Analysts Identify the Keys to Achieving TechQuilibrium during Gartner IT Symposium/Xpo 2019, October 20-24, in Orlando
CIOs are facing a world that is constantly changing, and to succeed in this environment, IT leaders must find ways to navigate this uncertainty by winning in the turns, according to Gartner, Inc. Three forces are the “turns” – geopolitics, economics and the emergence of digital giants – and they are creating uncertainty and pressure for CIOs. These forces are a shift from the normal course of momentum.
To successfully navigate through these turns and excel in a digital society, Gartner analysts said organizations must find their TechQuilibrium – a technology equilibrium point that defines how digital an enterprise needs to be to compete or lead in a digital society.
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Valentin Sribar, senior research vice president at Gartner, explained today to an audience of more than 9,000 CIOs and IT executives at Gartner IT Symposium/Xpo that a turn changes the dynamics of the status quo and forces a reaction. These turns often come in combinations, thereby increasing the need to react on different business vectors, and they require a high-performing executive team.
“TechQuilibrium can help create balance between the complex disruptions and many extremes that organizations are facing today,” said Mr Sribar. “CIOs should partner with their executive teams to design a value proposition that drives the right mix of traditional and digital business. When you reach this balance point, you have reached your TechQuilibrium. Individual enterprises and whole industries will have different points of TechQuilibrium. Not every industry needs to be digital in the same way or to the same extent.”
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Gartner analysts said the ultimate digital business strategy is about how quickly and how far organizations can digitalize their internal operations and their external value proposition. The 2020 Gartner CIO Agenda survey showed that, on average 20% of CIO respondents said their products, services and revenue value proposition are digital. And 39% of their workplace, processes and supply chains have been made more effective with digital technology. However top performing CIOs said over half their operations are digitalized and a third of their value propositions are digital.
“Currently most organizations need to accelerate their digital initiatives to reach their TechQuilibrium. Because the further you are from your industry’s point of TechQuilibrium, the more likely you will be disrupted,” said Mr. Sribar.
CIOs should focus on four areas to help reach TechQuilibrium in their organizations:
- Enterprise Decision-making
- Leadership
- Customer Experience
- Digital Society
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