A 2016 CIO survey by Gartner has found that CIOs in Australia and New Zealand expect digital revenue as a percentage of total revenue to grow from 14 per cent to 32 per cent in the next five years.
The global survey included responses from 175 A/NZ CIOs.
In the A/NZ public sector, CIOs are predicting a rise in digital processes from 38 per cent to 79 per cent during the same period, the survey found.
“While the meaning of digital revenue and processes is open to interpretation, it is clear that digital business is a reality now, and it is expected to be a significant source of competitive advantage,” Gartner vice-president Graham Waller said in a statement.
"As digitalisation is intensifying, it is becoming clear that hard-coded business and operational models will not suffice and that a more adaptable approach is required.”
According to Waller, businesses and government agencies are looking less like fixed systems and more like platforms.
“A platform provides the business with a foundation where resources can come together — with the ability to rapidly configure groups of assets both across the business and the broader ecosystem — to create value,” he said.
The Gartner survey also asked CIOs about budgets. A/NZ CIOs expect an average budget increase of 2.9 per cent, slightly higher than the global average of 2.2 per cent.
However, A/NZ CIOs cited money as the biggest barrier to achieving their objectives as a CIO. Globally, skills were seen as the top barrier.