Study: Y2K Taking Money From E-Commerce

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As the business world continues to budget millions of dollars for the Y2K problem, it's doing so at the expense of paying for the practices and technology necessary to establish and expand e-commerce, says a new study by Ernst & Young, New York.

More than 4,300 information technology managers were surveyed for the "Ernst & Young/Computerworld Global Information Security Survey." Of those surveyed, more than 65 percent have dedicated staff and budgets allocated toward the programming problem. In the United States, 8 percent are spending $10 million or more trying to correct the problem. The survey also found that 40 percent expect their companies to start conducting e-commerce within two years, while only 8 percent currently conduct business over the Web. More than 32 percent said security concerns were a barrier to entering the e-commerce marketplace.

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