Digital strategy investments accelerate with the support of IT amid COVID-19 – Gartner
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November 06, 2020
Contributor: Laurence Goasduff
COVID-19 has created an urgent need for organizations to accelerate their digitalization efforts.
Sixty-nine percent of boards of directors say that the effects of the pandemic crisis, the economic crisis and the social crisis are accelerating digital business initiatives, according to the Gartner Board of Directors Survey, conducted in May and June 2020.
Before the pandemic, most organizations moved their digital strategies forward at a steady pace. Leaders either wanted proof of success and didn’t feel great urgency to invest more in digital or the organizational culture seemed resistant.
But when the COVID-19 pandemic struck, many employees started to work remotely and organizations ramped up digital engagement with customers. Surveyed corporate directors increased the development of digital products and services to maintain and accelerate their customer engagement, and help them reach their revenue growth targets.
The way forward for them was to increase, rather than decrease, the speed of their digital business initiatives and to elevate funding for IT to support this acceleration.
The survey found that 87% of corporate directors deemed technology as having a transformational role in addressing strategic business priorities. Sixty-seven percent of corporate directors expected budgetary increases in technology, and the majority of them anticipated a 6.9% increase in their current IT budgets as a result of the acceleration.
Digital business acceleration is important now for three reasons:
To respond to this crisis and its aftermath, the role of the CIO as an advisor to the board on digital business issues will also increasingly change. More than half of boards of directors said that CIOs will serve as partners with senior business leaders, while over a third look to the CIO to lead digital business issues alone.
Join your peers for the unveiling of the latest insights at Gartner conferences.
Recommended resources for Gartner clients*:
Survey Analysis: Board Directors Say Pandemic Drives Increased Investments in IT
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
or call
November 06, 2020
Contributor: Laurence Goasduff
COVID-19 has created an urgent need for organizations to accelerate their digitalization efforts.
Sixty-nine percent of boards of directors say that the effects of the pandemic crisis, the economic crisis and the social crisis are accelerating digital business initiatives, according to the Gartner Board of Directors Survey, conducted in May and June 2020.
Before the pandemic, most organizations moved their digital strategies forward at a steady pace. Leaders either wanted proof of success and didn’t feel great urgency to invest more in digital or the organizational culture seemed resistant.
But when the COVID-19 pandemic struck, many employees started to work remotely and organizations ramped up digital engagement with customers. Surveyed corporate directors increased the development of digital products and services to maintain and accelerate their customer engagement, and help them reach their revenue growth targets.
The way forward for them was to increase, rather than decrease, the speed of their digital business initiatives and to elevate funding for IT to support this acceleration.
The survey found that 87% of corporate directors deemed technology as having a transformational role in addressing strategic business priorities. Sixty-seven percent of corporate directors expected budgetary increases in technology, and the majority of them anticipated a 6.9% increase in their current IT budgets as a result of the acceleration.
Digital business acceleration is important now for three reasons:
To respond to this crisis and its aftermath, the role of the CIO as an advisor to the board on digital business issues will also increasingly change. More than half of boards of directors said that CIOs will serve as partners with senior business leaders, while over a third look to the CIO to lead digital business issues alone.
Join your peers for the unveiling of the latest insights at Gartner conferences.
Recommended resources for Gartner clients*:
Survey Analysis: Board Directors Say Pandemic Drives Increased Investments in IT
*Note that some documents may not be available to all Gartner clients.
By clicking the "Continue" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.
Please provide the consent below
I have read, understood and accepted Gartner Separate Consent Letter , whereby I agree (1) to provide Gartner with my personal information, and understand that information will be transferred outside of mainland China and processed by Gartner group companies and other legitimate processing parties and (2) to be contacted by Gartner group companies via internet, mobile/telephone and email, for the purposes of sales, marketing and research.
By clicking the "Subscribe" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.
©2024 Gartner, Inc. and/or its affiliates. All rights reserved.
©2024 Gartner, Inc. and/or its affiliates. All rights reserved.
Clients receive 24/7 access to proven management and technology research, expert advice, benchmarks, diagnostics and more. Fill out the form to connect with a representative and learn more.
8 a.m. – 7 p.m. ET
8 a.m. – 5 p.m. GMT
Monday through Friday
Please provide the consent below
I have read, understood and accepted Gartner Separate Consent Letter , whereby I agree (1) to provide Gartner with my personal information, and understand that information will be transferred outside of mainland China and processed by Gartner group companies and other legitimate processing parties and (2) to be contacted by Gartner group companies via internet, mobile/telephone and email, for the purposes of sales, marketing and research.
By clicking the "Submit" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.
By clicking the "" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
