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1998-02-10 23:12:44


We'll Make The Deadline, Say 97% of U.S. Big Businesses



International Data Corporation (IDC) says that U.S. corporations ($100 million or more in annual revenues) are on track. They will make the y2k deadline because . . . corporate officials assure IDC that they will make the deadline.

Are they confident? You bet your life.

* * * * * * *

New research findings, seriously challenge predictions that a large number of U.S. companies will miss the critical date for resolving the Year 2000 problem.

IDC's survey of 503 top executives and year 2000 project managers indicates executives have addressed the year 2000 problem and are well on their way to resolving it. Nearly three out of four companies have undertaken or planned projects while just one out of 15 companies (or seven percent) have not yet addressed the problem.

"All the hype we have seen in the press concerning the many companies that are still unaware of the problem just doesn't stand up in light of these results," said Thomas Oleson, IDC research director.

Perhaps this is best explained by the fact that 73 percent of the CEOs, 71 percent of the CFOs and 87 percent of the CIOs surveyed indicated they have a strategy in place to address the problem. The details asked of the CIOs revealed a surprisingly high 21.6 percent have either completed renovation or required no renovation. An additional 71.3 percent have one or more projects under way. . . .

Will Companies Achieve Compliance in Time?

Again, companies are confident in the year 2000 projects in process. Just 2.8 percent of the 250 CIOs surveyed expect to miss the magic 1/1/2000 date. "Here again, this is a much smaller percentage than we have seen in numerous Chicken Little stories," said Oleson. The majority of respondents said they would achieve compliance in 1997 or 1998 -- well before the beginning of the next century. . . .

In the U.S. IDC surveyed 100 Chief Financial Officers, 100 Chief Operating Officers, and 303 Chief Information Officers regarding their opinions, strategies, and costs associated with the Year 2000 date problem. These executives were selected from companies with $100 million or more of 1995 revenue and represented the investment, banking, insurance, manufacturing, utility, and communications industry segments.


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