US analysts maintain Bug will claim victims

US analysts maintain Bug will claim victims
Political correspondent Up to half of all companies and government agencies worldwide will experience at least one mission critical system failure due to the Millennium Bug. The claim comes from the Gartner Group, a US analyst firm, which has researched the Year 2000 efforts of 15,000 companies in 87 countries. A ‘mission critical’ failure is defined as one which causes a shutdown of operations, health hazard, considerable revenue loss or litigation. The cost of recovering from each failure is estimated at anywhere between $20,000 and $3.5m. Worst hit will be small companies and government agencies. Half to 60 per cent will experience a failure in the first quarter of 2000. The total cost of failures is expected to reach over a trillion dollars. System crashes will continue through the next decade because over 80 per cent of commercial software is still not certified as Y2K compliant. The report goes on to says that over 20 per cent of all companies and government agencies have yet to make any Year 2000 preparations. Most of these are small companies with fewer than 2,000 employees.


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