Most user organisations would rather replace aging legacy systems than fix the date field associated with the Year 2000 problem.
This is the conclusion of a new report by market research group Ovum, which also looked at the impact of economic and monetary union in Europe on users' IT systems.
According to the report users will be required to switch from their local currency to the new European currency unit, the Euro, within three and a half years of initial EMU implementation on 1 January 1999. Many companies will take a phased approach with both currencies running in parallel, claim the researchers, but others favour a big bang approach, closing one financial year in the local currency and starting the new year in the Euro.
?Finance directors have in the past found it difficult to justify replacing business and accounting systems on grounds of cost or productivity gains. However, the 2000 deadline coupled with EMU, now provides them with the justification they need to throw out inflexible outdated systems,? said Dennis Keeling, author of the Ovum report.
Another survey prepared for KPMG by the Harris Research Centre reveals that UK companies are the least well prepared in the EU for monetary union. Although 93 per cent of respondents believe their country will enter EMU, a staggering two-thirds have no plans in place to cope with its introduction. Response was lowest among UK companies, comparing particularly unfavourably with the Germans and Italians.
Year 2000 compliance, though, is a little further along. A recent survey of 100 IT directors commissioned by software supplier Intersolv showed that 58 per cent of corporate UK IT managers believe their Year 2000 worries will be a thing of the past within two years.
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