Business makes late dash for the euro
More than half of British companies who believe they will be affected by the euro in the New Year have yet to alter their accounting systems to comply with the currency.
A survey by accounting and procurement software company Coda found 62% of companies believed the introduction of the euro on 1 January 2002 in 12 countries would affect their business. But with 98 days to go until they face possible transactions in euros, some companies are hurrying to comply.
‘We’re seeing a late rush for euro conversion across the UK,’ saidJeremy Roche, a vice president at Coda. ‘Within the next six to eight weeks, organisations are going to find that even if they start to plan their euro conversion, timescales are going to be very tight.’
And in the worsening economic climate, Roche warned that IT departments might find there is no longer the resources available to make the change at the last minute.
The Treasury has a website,to help business gear up for the euro.