What are CEOs focused on for next year? This is the question posed by CIO Dive, and I want to pull some details from the Brief.
- Following a year of economic uncertainty and business constrictions, 43% of CEOs expect to return to revenue growth in 2021, exceeding 2019 levels, according to research shared at Gartner IT Symposium/Xpo last month. One-third of CEOs expect to restore growth in 2022.
- One-third of CEOs are planning a “cautious restart” when tackling COVID-19 and the economic crisis, while 44% expect to more quickly regenerate business, according to Gartner data.
- Another 10% plan to remain more conservative, focused on survival.
Gartner’s recommendations focus are:
- Scaling digital efforts downstream
- Working with the CEO to understand plans to restore or redesign the business and determine where digital efforts fit in
- And focus on CEO demands, helping COOs with productivity, and help CFOs maintain cash on hand.
Why do we care?
As an industry, we spend a lot of time talking about being a virtual CIO. Well, here it is.
This is a mixed bag in terms of expectations. Be hopeful yet plan for the troubled waters.
The recommendations read like a to do list for services providers – make digital efforts relevant across your customers, talk with them about the transformations of their business. I like this lens – are you restoring, or redesigning? In some industries, they are going to be redesigning significantly the way they do business based on the new conditions. This is where learning about your customers industries matters.
Finally, that basic list – focus on business direction, productivity, and cash flow.. both for you, and for your customers.
Source: CIO Dive