PALO ALTO, Calif. -- HP today announced new products, solutions and services that enable organizations to address the short-term cost reductions required by todays challenging economy, while laying the groundwork to exit the downturn stronger and more competitive.
Economic downturns can more than double the likelihood that a business significantly changes its industry ranking, and those that make it into the top quartile during a downturn typically sustain their market premium for an average of three years.
Technology plays a major role in determining an organizations success before, during and after a downturn. In a 2007 survey, 99 percent of chief executive officers said technology is integral to the success of their companies. Additionally, in a new global study, 38 percent of respondents indicated they see the current economic climate as an opportunity to restructure their technology environments for the future.
Winning CIOs are focused on both strategic cost reductions and supporting long-term business growth, said Ann Livermore, executive vice president, Technology Solutions Group, HP. Its not about spending more: best-in-class IT organizations spend about half as much as the average company on technology as a percentage of revenue. Instead, they strategically spend and prioritize technology investments. HP offers an unprecedented range of solutions to help organizations emerge stronger when the economy recovers.