Business growth ‘key strategic aim of technology investment’

 

Business growth is the key strategic planning priority for organisations hoping to invest in technology this year, new research has revealed.

Gartner’s latest CEO and Senior Business Executive Survey showed that companies worldwide are moving away from cost-cutting measures and looking towards expanding their operations.

Mark Raskino, vice-president and Gartner fellow, said growth is “clearly king” in 2014, with 33 per cent of businesses listing it as their main aim.

“In 2014, growth almost equals the sum of the next three issues on the list of top strategic business priorities,” he stated.

“The next step will be for CEOs and CIOs to work together to match the use of modern technologies to the specific kind of growth that the business is trying to win.”

According to the survey results, almost half of IT-related answers specifically mentioned digital technologies such as social media and the cloud. Systems that boosted front-end functionality and revenue-winning capabilities were also popular.

Mr Raskino said CEOs are aware of the rising importance of technology as an enabler for change, but they must now be prepared to invest in that insight.

“Maintain a coherent and integrated view of the investment being made,” he advised.

“Don’t allow too much fragmentation across sales, marketing, digital, IT and other budgets to obscure the view and reduce directional control.”

Growth strategies must remain flexible to changing market conditions, as well as undergo constant monitoring, measuring and review to hit KPIs. All of this and more can be facilitated with the right technology investment.

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