UPDATE - Ixos Blames Losses on Y2K Bug and 'Confused' Strategiesgreenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread
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Friday 31st March 2000 3:17pm Title: Ixos blames losses on Y2K bug and 'confused' strategies Ixos Software has warned that it's likely to make a significant loss in its latest financial quarter, blaming the shortfall on the millennium bug and "confusion" in companies' IT strategies.
The German e-document firm has also generated lower revenues than expected - only managing sales of E25m (#15m) for the period ending 31 March.
Vijay Sondhi, co-chairman and chief financial officer at IXOS, said: "The problem is partly to do with the uptake before the millennium bug arrived and businesses being in a confused state. With so many different solutions IT departments needed tine to make up their mind."
He said that it's only now that companies are taking business-to-business (B2B) issues seriously but Sondhi hopes that the release of its Web collaboration and contact management software will open up a new set of opportunities for them.
-- (Dee360Degree@aol.com), March 31, 2000