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Contingency plans must be in place if Eurozone crisis deepens

Simon Quicke

The Eurozone crisis is something that CIOs must be preparing to deal with now according to one of the major analyst houses which has raised staff morale and supply chain risks as some of the problems that could emerge.

Gartner has handed out some advice to the channel's customer base to make sure they get through the current rough times in a good position warning them that contingency plans must be formulated now in case the worst happens.

The financial markets continue to fluctuate badly in the light of the ongoing attempts by Europe's political leaders to resolve the Eurozone debt crisis and while the shadow of a meltdown hangs over Europe those running IT departments should be taking action.

"Unlike recent economic difficulties, today's crisis has the potential to totally undermine the Eurozone, the whole EU and beyond," said Andrea Di Maio, vice president and distinguished analyst at Gartner.

"Spurred on by the pervasiveness of the internet, the crisis negatively affects every organisation or individual doing business in or with the region. The CIO's top responsibility is to guarantee business continuity," he added.

Some of the challenges that the analyst house has identified include coping with market volatility, building in some degree of flexibility as well as capital cost monitoring with an eye on credit lines and the inventory building up.

There were also recommendations to do something about staff morale, which might become even more strained should things in the economy deteriorate further.


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