More than 70% of hi-tech leaders expect digital transformation to increase revenue

Hi-Tech Leaders USA, Canada and Western Europe Not considering the current economic uncertainty as a hindrance to growth: OK 72% of them plan to increase revenue by 2023. And not only that: almost half of these leaders believe they do Can “outdo” the year.

A survey says Gardner Conducted in the second half of 2022 among 195 respondents in the US, Canada, UK, France and Germany, the survey asked how the economic turmoil poses challenges to CEOs, how confident they are in delivering on their plans, and what measures they have taken to cope with uncertainty.

Focus on cost reduction rather than revenue growth

“Beating the market in uncertain times requires an above-average ability to meet revenue aspirations,” he says. Mark McDonald, Vice President and Gartner Fellow. “Survey results indicate that almost half of companies (46%) lack the ability to reliably meet their revenue targets.”

The survey found that many tech leaders entered 2023 prepared for a possible recession. paradoxically, Many of the measures taken are focused on reducing costs rather than increasing revenue.

Increase relevance of technology solutions

Gartner expects overall IT spending to grow 2.4% through 2023 Development Information Technology Cost Corporate 4.1%. The landscape for IT spending is changing, as are buyers They increasingly value and invest in business outcomes rather than buying solutions.

“Environmental changes call into question the relevance of technological solutions. Low relevance reduces willingness to pay and renew relationships. To Gardner “Fit” is the link between a vendor’s solution and its applicability to current customer needs. This connection is available at all levels from C level to individual developers. Regardless, we see sales cycles lengthening and renewals at risk“, explains McDonald’s.

The environment is changing and leaders need to think about three time perspectives to increase “relevance”: CurrentlyBut whenever the environment changes Short termWith the ultimate goal of deploying solutions in support Future developmentWhen economic conditions are favorable. “It’s up to the provider to know when the environment is changing, re-create the environment with messaging, and refocus and reposition to meet customers where they are,” he explains. McDonald’s.

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