SMEs 'alienated' by euro complacency
Exchequer Software is urging UK SMEs to act now on euro preparation or risk alienating themselves from European customers, partners and suppliers.
According to the vendor, 40% of SMEs have not prepared their businesses for the euro and are leaving steps such as budget allocation and systems conversion until the last minute.
Although UK companies won’t be changing to the new currency, Exchequer believes all systems and processes, including any partner/client supply chain relationships, need to be fully compliant before 1 January.
‘When compared to the euro, the hype surrounding the impact of Y2K seems laughable. Most SMEs are sitting on a ticking timebomb,’ said Eduardo Loigorri, managing director at Exchequer.