Survey: Brexit is far more difficult to prepare for than Y2K

Published: Tuesday, 02 April 2019 08:14

A survey from Eggplant has found that when it comes to an organization’s systems, 57 percent of respondents believe that the impact of Brexit has proved to be far more complex to prepare for than Y2K/the Millennium Bug.

81 percent of businesses are likely to review or update existing business processes and software as a result of Brexit, and 65 percent of organizations believe it is certain or very likely that Brexit will impact software systems and processes.

The issues revealed are felt more keenly at board level. Taking just the C-suite responses, 68 percent believe that planning for Brexit is far more challenging than Y2K, and 79 percent believe that Brexit is certain or very likely to impact on software systems and processes.

The survey, conducted among 250 UK business leaders from C-level (36 percent), operations, IT and software management roles, also revealed that the significant upheaval and change will mostly affect technology and IT processes (30 percent) followed by supply chain (17 percent).

With 81 percent believing it likely or certain that existing processes or software will have to be reviewed or updated as a result of Brexit, it’s no surprise that over two thirds of respondents (69 percent) are considering hiring new staff. The impact of Brexit will also drive organizations to implement automation, with 73 percent certain, very likely, or likely to adopt automation for new administrative tasks.