As the fixed year 2000 (Y2K) deadline approaches, many organizations anticipate a degree of noncompliance within their systems. Some organizations have spent millions of dollars on compliance projects only to discover that some repaired systems may fail regardless of their efforts. The dire consequences of neglecting the Y2K issue could include closing business completely or facing expensive litigation.
Therefore, companies must implement protective measures such as triage, contingency planning, backup procedures, inventory buildups, and year-end operation slowdowns.
CTR's new report explores the remaining possible Y2K effects and necessary considerations for companies that are concerned with the Y2K issue.
The dimensions of Y2K problems are now estimated to extend beyond those imagined two or three years ago. In the United States alone, correcting the Y2K problems in business and government is estimated to cost up to $200 billion.
In addition, even compliant businesses may be affected by interacting with systems of partners and third parties. Corrupt data is easily transmitted, and the World Bank's survey of 139 developing nations revealed that only 58 of those nations had initiated any remediation projects.
The report offers strategies for approaching the problem at this late stage before the December 31st deadline. Although many companies are underestimating the problems associated with the Y2K, contingency plans are no longer options, but are requirements for ensuring business continuity.
Although the Y2K deadline may be too near to repair all enterprise systems - especially for larger companies - organizations can still address mission-critical systems.
The report examines all aspects of Y2K strategy options, including outsourcing and partner, supplier, and vendor compliance. It also stresses the legal consequences of neglect, who can sue whom and why, and methods of documentation that can prevent or minimize litigation's effect on business.
In this critical information technology (IT) era, company survival depends on the ability to continue operations into 2000 and beyond. With the Y2K deadline quickly approaching, organizations must make Y2K compliance top priority. This new report provides techniques and strategy development methods that can help prevent a Y2K enterprise disaster.
TABLE OF CONTENTS: Chapter 1: As Time Runs Out Chapter 2: Potential Y2K Scenarios Chapter 3: Y2K Noncompliance Liabilities Chapter 4: Legal Protection Alternatives Chapter 5: Damage Control Strategies Chapter 6: Supply Chain Ripple Effect Contingencies Chapter 7: Y2K Global Risk Management Chapter 8: Documentation Issues Chapter 9: Continuous Triage Policies
