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| Gartner CEO Says 50 Percent of IT Companies That Have a Household Brand Name Won't Exist in Current Form in Three Years |
| Michael Fleisher Provides Strategic Advice for CEOs and CIOs During Gartner Symposium/ITxpo 2001 |
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LAKE BUENA VISTA, Florida, October 8, 2001 - Gartner, Inc. (NYSE: IT and ITB) Chairman and CEO Michael Fleisher said the recently announced merger of Hewlett-Packard and Compaq is the first of many large acquisition agreements that will be seen in the next few years.
Fleisher outlined the harsh reality of the IT industry today and for the next few years during the opening keynote of Gartner Symposium/ITxpo 2001. Fleisher told an audience of more than 6,000 IT professionals that 50 percent of IT companies that have a household brand name won't exist in their current form in three years. "(CEOs and CIOs) need to anticipate incredible consolidation - both in your own industry as well as in your suppliers," Fleisher said. "Your most trusted partner may suddenly be subsumed by another company that you chose not to do business with. "If you are a CIO, 100 percent of your strategic focus needs to be on using IT to change the nature of your relationship with your suppliers and your relationship with your customers," Fleisher added. "You must completely delegate nonstrategic business processes. This is the only way CIOs can be sure to use their intellect and horsepower on strategic business issues." Fleisher emphasized that business leaders will need to understand how their company not only generates revenue but generates cash flow. "As we come into increasingly difficult times, understanding how your company generates and leverages cash earnings will be critical," Fleisher said. "Your focus on changing the nature of your relationship with suppliers and customers is so important because those are the only places where you are going to increase your company's cash flow." About Gartner Symposium/ITxpo
Gartner Symposium/ITxpo is the IT industry's largest and most strategic conference, providing business leaders with a look today at the future of IT. For more than 10,000 IT professionals from the world's leading enterprises, Gartner Symposium/ITxpo events are key components of their annual planning efforts, and a place to gain insights into how their organizations can use technology to address business challenges and improve operational efficiency. For more information online, go to www.gartner.com/symposium.
About Gartner, Inc.
Gartner, Inc. is a research and advisory firm that helps more than 10,000 clients understand technology and drive business growth. Gartner's divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Founded in 1979, Gartner, Inc. is headquartered in Stamford, Connecticut, and consists of 4,600 associates, including 1,400 research analysts and consultants, in more than 80 locations worldwide. The company achieved fiscal 2000 revenue of $855 million. For more information, visit www.gartner.com.
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Contact: Danielle Westling Gartner 203 316 6754 danielle.westling@gartner.com |
