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The Euro
Whilst many Managers and Directors are aware of the problems associated with the year 2000
and computers, not much may be realised about the impact of the single European currency
or Euro.
The problems start with such simple things as "where does the symbol actually go on
the keyboard ?", and then filter to much larger issues when accounting systems become
involved (No just having the multi-currency facility on the system is NOT enough)
If your organisation has not yet arranged for a project team to look into the impact of
the Euro on the way you do business, we suggest you start right now!
Even if it stays outside EMU for the time being, the introduction of the Euro will have a
significant impact on British business, especially for those exporting to or even
supplying locally based continental (or Irish) companies.
A company's IT systems will need to be at the heart of its thinking on EMU. Principally a
software problem, the Euro might also have hardware, data conversion and business strategy
implications (e.g. how also to cope with the Year 2000 issue).
What then are the issues, risks and opportunities? To what extent should you be thinking
about adapting your existing systems? And when should this take place? How far do you need
to be thinking ahead?
Key issues
Need for internal planning team?
IT providers to provide Euro upgrade?
Software applications dealing with 'values'
Hardware implications?
Convergence of 'year 2000 bug' and EMU
Human resources - likely shortage of IT experts in the UK/EU?
Systems referencing currency fields
Spreadsheets - need for formulae changes?
Data conversion - accounts, sales, marketing
Rounding, continuity of contracts
How to type the Euro symbol from your PC
For more information visit the following sites:
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