Larger companies fear 'millennium bug' most.

SUMMARY

RHI Management Resources survey - Brief Article

 
FREE EXCERPT

While many of the nation's chief financial officers are bracing for the worst should Year 2000 date conversion projects not be completed in time, 48% remain unconcerned about the financial implications of the "millennium bug," according to a survey by RHI Management Resources, a nationwide staffing service placing senior accounting and financial professionals on a project basis. Company size appears to be a decisive factor, as 70% of CFOs at large firms (1,000 or more employees) said they either are somewhat or very concerned.

"Firms with mainframe legacy systems or outdated network infrastructures are affected most by Year 2000 compliance issues," notes Cecil Gregg, RHI executive director. "However, the problem is global in scope and can affect even those businesses whose software is just three to four years old, leaving them vulnerable to operational breakdowns and interrupted service to customers if sufficient upgrades are not made. Accounting and finance applications and databases are the most susceptible to the millennium bug because...

To continue reading

FREE SIGN UP