TechnologyAccounting SoftwareIT news: UK firms scrimp on euro

IT news: UK firms scrimp on euro

[QQ]UK firms only spent an estimated 1.4 percent of total IT budgets on euro-related services, according to a IDC survey outlining opportunities in this field. Budgets are expected to double in the coming year, but the figure is still half as much as the companies expected to spend on such services. Half of those surveyed have no plans to reconfigure systems in preparation for the euro.[QQ] IDC estimates that the total UK euro changeover spend will reach £8.2bn by 2002 and the banking sector will account for a third of that spend.[QQ] US and European consulting services consider the conversion to the euro as an opportunity both for growing services revenue in the short term and as a lever to form new client relationships with euro conversion as the first stepping stone.

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