CHENNAI, May 22: The turn of the century brings with it changes that open new vistas of opportunities for the software industry.

Close on the heels of the Year 2000 (Y2K) problem is the move to Euro as the currency which has widespread implications in terms of business oppurtunities for Indian software houses.

Dun and Bradstreet Satyam Software (DBSS) is one of the first software houses in India to recognise this and is working to offer services for this specific problem.

As a start, some of its key personnel have toured parts of the European Union (EU) to study differnt kinds of organisations. The kind of organisations it has been speaking to are mainly retail and financial services. DBSS has made an in-depth study of operations and the implications of a dual currency system not only on organisations but with respect to different countries, the sources added.

The trouble is likely to crop up in EMU (European Monetary Union) member nations that do not have `decimal currencies' which would pose problems while evolving an effective exchange mechanism. This is expected in several nations including Italy, Spain, Greece, Belgium, the DBBS sources said.

The exchange rate of Euro, the common currency, in juxtaposition with the other currencies of the EMU coutries is currently being worked out, the DBBS sources added.

Another issue that is being looked into is the problem that an organisation will face during operations in the EMU as well as other countries.

With the EMU moving towards the dual currency system in 1999 when the Euro will co-exist with each country's currency, all organisations will have to gear up to accommodate the dual currency system in their accounting and all other monetary processes.

This dual currency is expected to affect cash registers, point of sale documents, ATMs and also past historical records.

The dual currency is to exist in the transition period because eventually by July 1, 2002, these countries are expected complete the transition to the Euro.

DBSS senior officials were not fazed by the temporariness of the problem. ``We expect to work on Euro projects for the next 10 years when other countries move into the union,'' said project manager Ganesh Srinivasan.

Srinivasan refused to call it just another conversion problem saying it involved analysing an organisation's operations and developing a customised solution.

DBSS is looking at offering complete consultancy services for the Euro process including training the end users.

The total revenue that is expected to be generated from these projects is estimated at $50-60 million, the realisation being tied to the Euro gaining currency, according to the DBBS sources.

Dun and Bradstreet Satyam Software (DBSS) is one of the first software houses in India to recognise this and is working to offer services for this specific problem.

As a start, some of its key personnel have toured parts of the European Union (EU) to study different kinds of organisations.

The kind of organisations it has been speaking to are mainly retail and financial services.

DBSS has made an in-depth study of operations and the implications of a dual currency system not only on organisations but with respect to different countries.

The trouble is likely to crop up in European Monetary Union (EMU) member nations that do not have `decimal currencies' which would pose problems while evolving an effective exchange mechanism. This is expected in several nations including Italy, Spain, Greece, Belgium.

The exchange rate of Euro, the common currency, in juxtaposition with the other currencies of the EMU countries is currently being worked out.

Another issue that is being looked into is the problem that an organisation will face during operations in the EMU as well as other countries.

With the EMU moving towards the dual currency system in 1999 when the Euro will co-exist with each country's currency, all organisations will have to gear up to accommodate the dual currency system in their accounting and all other monetary processes.

This dual currency is expected to affect cash registers, point of sale documents, ATMs and also past historical records.

The dual currency is to exist in the transition period because eventually by July 1, 2002, these countries are expected complete the transition to the Euro.

DBSS senior officials were not fazed by the temporariness of the problem.

``We expect to work on Euro projects for the next 10 years when other countries move into the union,'' said project manager Ganesh Srinivasan.Srinivasan refused to call it just another conversion problem saying it involved analysing an organisation's operations and developing a customised solution.

DBSS is looking at offering complete consultancy services for the Euro process including training the end users.

The total revenue that is expected to be generated from these projects is estimated at $50-60 million, the realisation being tied to the Euro gaining currency.according to the DBSS sources.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.