Majority of CEOs predict IT investment will be crucial to economic recovery

For companies to emerge from the recession in a strong position the majority of chief executive officers (CEOs) believe their use of IT will be critical, new research shows.

According to figures from Gartner, more than 60 per cent of CEOs surveyed said changing their use of IT will be crucial, while over 40 per cent said they plan to increase their investment in IT through the course of 2010.

This could include upgrading their broadband services wherever possible, which could in turn lead to more businesses adopting applications such as VoIP solutions in order to save money on communications.

Jim Elkin, a consultant at Analysys Mason, said: "Any systems that provide an interface between the customer and business should be reviewed, optimised and if necessary updated."

Cost-cutting has been the priority for many businesses throughout the recession, although a return to revenue growth is being targeted for 2010 by 71 per cent of business leaders, according to Gartner.