Euro

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


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