IDG’s InfoWorld Publishes Special Report On Strategic Opportunities Created by Europe’s Conversion To Euro Currency
SAN MATEO, Calif. (July 13, 1998) — InfoWorld, the enterprise computing newsweekly, today announced the July 13 issue of InfoWorld will include a special report on how global companies can take advantage of the estimated $57 billion in annual savings and untold business opportunities resulting from Europe's conversion to the euro currency.
The InfoWorld special report reveals that often the most important decisions facing global companies have not yet been addressed, despite political awareness and technical analysis of the European Economic and Monetary Union's (EMU) move to the euro. Critical strategic business decisions — such as how to prepare for euro conversion in the midst of year 2000 compliance testing, whether to send invoices in euro and national currency, and when to switch operating currencies — will drive technology implementations and affect the profitability of the company.
"While much has been written about the political and economic changes on the European Union's conversion to the euro, there has not been enough attention given to the implications for global business," said Sandy Reed, editor in chief of InfoWorld. "InfoWorld is making the link between the technology and the business drivers to help enterprise customer take advantage of these changes."
InfoWorld's senior editor Lynda Radosevich teamed with Sarwar Kashmeri, president of New York financial software consulting company Niche Systems (www.nsinc.com), to convene a roundtable of euro experts from leading enterprise resource planning (ERP) and financial software companies — including PeopleSoft, Oracle, Lawson Software and FlexiInternational Software — to discuss the technical issues and business implications of the monetary union. Topics of the roundtable included: timing and competitiveness for global companies, primary customer concerns, software vendors' readiness for euro conversion, and effect on Y2K compliance efforts.
"In many ways, conversion to the euro is a more complex process than Y2K compliance efforts," said Sarwar Kashmeri, president of Niche Systems, Inc., developers of the Euro Countdown Seminar Series. "There is no one single conversion date, like Y2K. EMU will impact every part of an enterprise and may require changes to the enterprise's operating business model in Europe. Y2K is primarily an IT issue and will be dealt with by programmers."
The InfoWorld special report will include the results of the roundtable discussions held by Radosevich and Kashmeri. In addition, the special report in the Enterprise Computing section of InfoWorld will also include: A check list on how to assess euro-ready software
An example of companies finding business opportunities in the euro
A case study on how one multi-national company is simultaneously contending with euro conversion and Y2K compliance
Economists expect the EMU to exceed the US economy in size and anticipate the euro will rival the US dollar as the world's main reserve currency. Companies can save money by consolidating European fiscal operations under the euro, as opposed to operating in the national currency in 11 different countries. Total savings from eliminating currency risk when doing business in Europe, according to the estimates of one German bank, could reach $57 billion annually. Also, EMU will give global companies increased opportunity to expand their business operations in Europe, but only if they are prepared.
Headquartered in San Mateo, Calif., in the heart of Silicon Valley, InfoWorld Media Group publishes InfoWorld and InfoWorld Electric(www.infoworld.com). InfoWorld, "The Voice of Enterprise Computing," is a newsweekly that focuses on editorial coverage of client/server products and solutions used in corporate enterprises, and has earned a reputation for the timeliness and accuracy of its coverage of the people, technologies, products and companies that make a difference in the IT industry. InfoWorld's $21 million dollar cross-platform, networked test bed — the InfoWorld Test Center — conducts the industry's most trusted testing of enterprise products.
InfoWorld Media Group also publishes InfoWorld Electric, the leading enterprise computing authority on the Web, which features daily technology news, product reviews, opinions, and interactive discussion forums, along with a weekly e-mail newsletter (the InfoWorld Scoop) and a complete archive of InfoWorld's print edition.
InfoWorld Media Group is a wholly-owned independent business unit of IDG, the world's leading IT media, research and exposition company. IDG publishes more than 285 computer magazines and newspapers and 500 book titles and offers online users the largest network of technology specific sites around the world through IDG.net (http://www.idg.net), which comprises more than 200 targeted Web sites in 52 countries. IDG is also a leading producer of 110 computer-related expositions worldwide, and provides IT market analysis through 49 offices in 41 countries worldwide. Company information is available at https://www.idg.com.