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Euro Crisis: 50% of Firms Stuck Behind the Planning Eight Ball

by Kristin Moyer  |  January 20, 2012  |  2 Comments

Contributed by David Furlonger

Today we conducted our Euro Crisis Webinar. 416 participants were surveyed about:

  • Whether their enterprise had plans in place to deal with a worsened euro crisis
  • Whether the euro crisis has impacted their IT budget
  • Whether the euro crisis would influence investments in innovation

Results of the polling revealed that 50% of respondents covering all industries have no contingency plans in place to manage a worsened euro crisis. We urge clients to better prepare themselves via accessing existing research available on and setting alerts for upcoming research using the search term “euro crisis”.

Existing published research includes:

Peter Redshaw Jan 18th: Euro Crisis and the Threat to Outsourcing

Andrea DiMaio Jan 18th:Examine Six Risk Dimensions of IT Preparedness for the Euro Crisis

Alistair Newton Jan 16th: Expect the Euro Crisis to Adversely Affect Payment Systems and Industry Supply Chains

Keith Harrison Jan 13th: Euro Crisis: Issues and Recommendations for Electric Utility IT Functions

Mim Burt Jan 11th: How Retail CIOs Should Respond to the Unfolding Euro Crisis

Mark Raskino Dec 29th: Euro Crisis: Key Questions CEOs and CIOs Should Ask Each Other

Stessa Cohen Dec 27th: Euro Crisis Offers Banks Opportunity to Revise Social Media Strategies to Engage Customers and Innovate

Dave Aron Dec 23rd: Ensure Your IT Strategy Is Ready for a Euro Crisis

Andrea Di Maio Dec 22nd: What the Euro Crisis Means for Government IT

David Furlonger Dec 20th: The Euro Crisis: Four Scenarios and How CIOs Can Prepare for Them

David Schehr Dec 20th: The Euro Crisis Will Mean More and Different Customers for Wealth Managers

David Furlonger Dec 6th: CIOs Should Address the Impacts of the Euro Crisis on Their Enterprises Now

David Furlonger Oct 1st 2010: The European Crisis and Market Impact: Situation Remains Dire

David Furlonger Apr 17th 2009: The Financial Market Crisis: Storm Clouds Over the Euro

We also asked webinar participants about their IT investment plans:

  • 52% of respondents believe IT budgets will remain unchanged
  • 15% expect an increase
  • 9% expect a decrease of <5%
  • 25% expect a decrease of >5% in their IT budgets

Clients should watch for forthcoming research from analyst Kurt Potter: Actions to Fight Cost Optimization Fatigue during the Euro Crisis, for additional guidance on how to work through reduced IT budget scenarios

Lastly, we also asked webinar participants about their views on how the euro crisis will impact investments in research and development and discretionary spending on innovation:

  • 17% revealed that discretionary spending would increase
  • 69% suggested there would be no change
  • 14% voted that discretionary spending investments would be cut to zero

Those clients who expect no change in their innovation spending patterns or who anticipate a cut can gain further insight into the importance of maintain an innovation focus during crisis by reviewing an upcoming note from David Furlonger: Euro Crisis Innovation Remains Critical to Survival and Growth

We thank everyone for their participation today and welcome client enquiry and continued interaction on this important subject. An archive of today’s material can be found on the Gartner Webinar website.

Category: banking  cio  customer  euro  executive-decisions  insurance  operations  payments  securities  social-networking  twitter  

Tags: banking  banking-and-investment-services  basel-ii  cio  cost-containment  customer-communication  customer-service  customer-trust  financial-crisis  financial-services  financial-services-restructuring  innovation  insurance  it  market-crisis  operational-risk  regulation  regulatory-compliance  restructuring  risk-management  scenario-planning  

Kristin R. Moyer
Research Vice President
14 years at Gartner
more than 20 years IT industry

Kristin Moyer is a Research Vice President in Industry Advisory Services/Banking and Investment Services. She has more than 20 years of experience across the global high-technology industry in a variety of roles. Ms. Moyer's research coverage includes… Read Full Bio

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