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There are some real interesting issues with the Euro. For a period of time, many companies are going to have to track transactions in both the local currency and the Euro. A multinational firm will have to track this for each county they deal with, in addition to keeping track of when the country enters (or leaves) a new stage of using the currency. Each change represents a business opportunity as well as an opportunity to build computer systems to handle the problem. I see a chance to build businesses around any one of the following areas: 1. Conversion software from a "foreign" currency, such as dollars or yen, into two currencies - the local and the Euro. Current software only allows conversion into one target currency. Initial fixes will probably put the Euro into a comment field or an external cross-reference file, and gradually move it into mainstream usage. Lots of work there - software and business reengineering. 2. Project management for transition and cut over. 3. Training on transition. 4. Reengineering departments to handle transitions more effectively. 5. In some cases, installation of parallel systems - one to run on local currency and one to run on the Euro. 6. Strategic planning for competitive edge on currency implementation. 7. Slam dunk replacement of systems to handle currency issues. 8. Analysis of business rules and revision to Euro (display all sales greater than ….; managers are authorized to make purchases no greater than…., etc.). 9. New accounting systems. 10. New budgeting systems. 11. New systems for billing. 12. Revisions to electronic payment systems. 13. Major revisions of payroll and HR. 14. Revisions of inventory management. 15. Radically different point of sales. 16. Modifications of history tracking and data warehousing. 17. Implementation of European Commission rules on rounding and auditing of the implementation and exceptions. 18. Denormalizing data bases to minimize distortions of revenue and profit calculations. 19. With unemployment on the rise in some European countries, there is an increased chance of a clash between national interests and European Union interests. Protectionist pressures may fracture the union, leading to a quick change of policy in some of the members. Systems have to be flexible enough to quickly absorb such changes. What do you think? Hank Heath Project Manager HLHeath consulting home office: 801-733-9716 cell phone: 801-814-5387 7054 S. Ponderosa Dr. Salt Lake City UT 84121-3734 e-mail: HLHeath@IBM.net +--- | This is the Midrange System Mailing List! | To submit a new message, send your mail to MIDRANGE-L@midrange.com. | To subscribe to this list send email to MIDRANGE-L-SUB@midrange.com. | To unsubscribe from this list send email to MIDRANGE-L-UNSUB@midrange.com. | Questions should be directed to the list owner/operator: david@midrange.com +---
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