Now CEOs prioritizing revenue growth to cost cutting
By siliconindia   |   Tuesday, 15 December 2009, 19:38 IST   |    7 Comments
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Now CEOs prioritizing revenue growth to cost cutting
London: In 2010, most of the U.S. and British companies plan to focus on revenue growth over cost cutting and IT seems to be central to their recovery strategies, says Gartner report. In 2009, CEOs had focused on cost cutting to cope with down turn but after a year situation seems to be changed. In a survey of 190 senior business leaders, 71 percent say that they are focusing on revenue growth. "Business leaders are gasping for growth after a long period holding their breath, and they are expecting to increase the importance of IT in their post-recession approach," said Mark Raskino, Vice President, Gartner research. The survey found that some 43 percent of respondents planned to increase IT investment, while 45 percent planned to keep it at the same level and 13 percent were eyeing a cut. The poll of Gartner projected a more positive picture than a survey of 102 chief information officers (CIOs) carried out by UBS in the third quarter that forecast a one percent decline in IT budgets over the next 12 months. Out of 190 senior business executives surveyed by Gartner, 81 were CEOs of running companies with annual revenues of more than $1 billion, during the third quarter.

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