Dual running of accounting systems

Slide 5 of 15

Notes:

Summarised from the FEE document:

The change is simplest at year end

The risks if the manager of a company delays the changeover to the end of 2001 are these:

· No time to adapt new software to meet the company’s requirements

· new software may not work with existing hardware

· No time is available to test it and consequent re-working of mistakes

· the company may lose control of its finances, for example cash flow may well suffer if invoices are delayed;

· the management of the company may have too much to do because:

- they will have to train their staff

- they will need to reprice their products

- maybe change their manufacturing and/or packaging arrangements

· increased costs from more staff or scarce skilled IT staff and little or no time to look for cheaper alternatives.