Page 55: of Maritime Reporter Magazine (September 1999)

Entomology for the millennium: Options for the bugs

Every company in the marine and off- shore industries has at some stage been involved in a millennium bug compliance study. It is now , time to admit that industry is bored with the subject. Since the problem was first mooted, its possible outcome has remained a mystery, which is the only definite aspect of the millennium bug problem. No one actually knows what will happen.

One thing is certain, though, in the modern marine and offshore industry, information has become the most impor- tant business tool. How companies han- dle and store it for use depends on their internal structure, but it is safe to say that it will be on a computer at some stage. Lose the information, and the company will lose money rapidly while trying to recoup that information and operate effectively at the same time. So information-sensitive companies such as shipbrokers, agents, offshore oil compa- nies, and ship operators, have been forced to take measures to ensure com- pliance. Until recently, there was only one course of action open to them, weed out the problems now by replacing equipment, at huge cost, that does not meet millennium bug requirements.

There are now two courses of action possible.

Companies can now rent the software.

Renting software is a service that has never been offered to the shipping indus- try before, but small and medium-sized companies have welcomed the idea. In order to meet the millennium compli- ance guarantees of larger companies, those using older systems have been forced to replace them with new, up-to- date equipment. Added to this are the associated costs of hardware, software, and the technical backup required to ensure that it all works smoothly.

Replacement programs also mean mas- sive capital outlay, a financial millstone that can be avoided by renting.

Companies can rent software to cus- tomers on short-term rental agreements, offering full technical backup and assis- tance 24 hours a day as part of the rental agreement. For the marine industry, the advantages of rental are mainly finan- cial. Software can be upgraded as newer versions become available, while the company renting the software doesn't have to find cash for the newer versions.

Reputable suppliers will also offer a 24-

September, 1999 hour support service for any problem users may experience, and provide a guarantee that their systems are millen- nium-compliant. Renting has become the buzzword of the financial sector, where it has proven to be a cost-effective alternative to replacing entire computing networks avoiding the rapid deprecia- tion computing systems undergo. Cur- rently, a system, or piece of software, can be bought one day, and declared obsolete the following month. By rent-

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