CoreTech's Year 2000 Services provide client
companies with proven business solutions and skilled resources to significantly reduce the
legal, operational and trading partner risk associated with the Year 2000 (Y2K) event.
CoreTech brings a business risk management approach to the issue of third party and
trading partner Y2K compliance.
Are you sure your business is
"ready" for the Year 2000?
Even though the Information Technology (IT) industry has known about the Y2K computer
problem for over 20 years, business leaders have been slow in mobilizing efforts to
protect their businesses from this pervasive and unpredictable computer crisis. The
average US-based company will spend 80% or more of its IT budget on Y2K during 1999, and
the deadline for completing all projects related to making your business Y2K
"ready" is now only months away. However, a recent survey* found that only 35%
of companies are on track with their Y2K projects. Even more disturbing is that, of the
nation’s 23.5 million small businesses, 50% have no plans for addressing the Y2K
problem. The harsh reality is that many businesses will be unable to function properly in
the year 2000 because of failures of their computers or those of the companies they rely
on.
* Source: Gartner Group
Y2K is a business problem!
A typical company utilizes many different systems, applications, data and business
partners each day to meet its business objectives. A Y2K failure in any of these
relationships or dependencies may cause a serious problem for the organization. To be
successful, a company must view Y2K as a problem of managing business risk.
Business risks outside the IT
department!
These include:
| • Desktop exposure in PC hardware,
software applications, custom macros, spreadsheets and databases |
|
| • Vendor exposure through the supply
chain and distribution channel |
|
• Exposure in heavily automated areas,
such as production equipment, process controls, security systems,
elevators, etc. |
|
| • Exposure from service providers, such
as utilities, telecommunications,
financial institutions, etc. |
|
| • Legal exposure through incorrect or
incomplete actions and documentation |
|
| • Business function exposure through
inadequate testing and configuration management |
|
| • Miscellaneous other exposures, such as
regulatory, public relations, etc. |
|
CoreTech has designed a
three-step approach to Y2K Risk Management.
CoreTech’s Y2K Risk Management Program focuses on the most critical aspect of a Year
2000 Plan – providing a high degree of assurance, through documented evidence, that
all critical aspects of a client’s business will operate correctly with respect to
the Year 2000 date and its related event horizons. CoreTech brings a rigorous methodology,
based on industry best practices, which has been proven through engagements with large,
global clients for Year 2000 projects.
The first step is to reduce the risks within
your control. The most effective manner to accomplish this -- according to industry, legal
and federal regulatory experts -- is through a Y2K Audit performed by an independent firm.
The Y2K Audit is a critical factor in ensuring that all of the essential aspects of your
business will continue to function correctly. CoreTech’s Y2K Audit uncovers potential
areas of risk that have not been addressed properly from a business perspective. With time
running out, you cannot afford any missteps along this final stretch toward success. Once
the Y2K Audit is completed, CoreTech assists clients in developing and executing risk
mitigation and contingency plans – which address the internal and external risks to
the organization. CoreTech helps firms develop project plans for the critical risk areas
by identifying project schedule, budgets and resources required to mitigate the potential
risk. Once the plans are in place, CoreTech assists its clients in executing those plans
to completion. |
CoreTech has
assisted many firms, of all sizes, in a variety of industries, to execute their plans in
the following areas:
IVV Audit more – As you approach the end of your
Y2K initiative, CoreTech can help ensure that you are Y2K ready with an Independant
Verification and Validation audit.
Project Office
– CoreTech provides skilled, experienced Certified Project Managers on short-term and
long-term assignments.
Desktop Compliance more – CoreTech has successfully delivered full Y2K Desktop
Compliance projects for firms in the financial services, pharmaceutical and manufacturing
industries, ensuring that the business-critical hardware, software applications, and
custom spreadsheets and macros are compliant.
Vendor Compliance more – CoreTech has developed an extensive database of vendor
compliance information, including compliance status, definition, method, and test plans.
Testing more – CoreTech assists firms in developing their test strategy,
test lab design, test plans and training through a rigorous testing methodology. CoreTech
also provides skilled testing resources to supplement our client’s testing needs.
Continuity/Contingency Planning
more – CoreTech can help firms
with a top-down Business Continuity Plan or a bottom-up IT Contingency Plan specific to
the Y2K threat.
Support Services more – The impact of Y2K may be felt the most in the Support
Services organization. CoreTech assists firms in evaluating the Y2K impact and in
developing strategies and plans to address the impact. CoreTech has helped many companies
understand, mitigate and manage their Y2K business risks through the methodologies and
skilled consultants that we provide. CoreTech’s business Risk Management Program
helps provide our clients with a high degree of assurance, through documented evidence,
that all critical aspects of their business will operate correctly with respect to the
Year 2000 date and its related event horizons. |
