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The article focuses on the accelerating changes in information technology and provides information on the latest generation of integrated enterprise resource planning software. System approaches that have been recently introduced were designed to reduce the probability of certain types of information processing errors, and while many of the older programs and systems remain in general use in many of today's businesses, their continuation can often be counterproductive. Yet, while computer technology evolved from mainframes to microcomputers, the basic information systems changed very little through the first three generations of application software. Organizations can move from viewing their information system as a cost of doing business to an important component in creating value for their products and services, and ultimately for their customers, like implementing integrated, enterprise resource planning systems.

A widespread software "bug" could play havoc with many accounting and information systems on January 1 of the year 2000. But CFOs cannot just leave this huge problem to computer experts, say the authors. They explain how the problem will affect CFOs, and specific steps you can take to protect your company. [ABSTRACT FROM AUTHOR]