Sheshunoff's Y2K Project

The Year 2000 (Y2K) Bug is not really a bug at all. It is an abbreviation, a programming convention. In order to saves memory and disk space, programmers use two digits to designate the year. Calculations work fine as long as both dates are in the same century. Unfortunately, as we move between centuries, problems arise. For example, if 00 is used to designate the year 2000, then calculations such as 00 - 95 result in -95 instead of 5. As a result, most of our legacy systems and some recently developed systems will abort or produce erroneous data once the year 2000 arrives. Systems that project dates (do calculations or logic operations using dates in the future) will run into problems even sooner.

In July 1988, Sheshunoff started evaluating the effect of Y2K on our business and our customers. First we calculated the impact on SIS products/services, facilities, business partners/data vendors, business systems, and our computing infrastructure. Then we analyzed these areas for compliance and formulated plans to remediate and test affected areas. We also formulated Disaster Recovery Plans. These plans ensure that Sheshunoff could continue to function even after a fire or some other disaster destroyed data and equipment.

We were audited in February for Y2K compliance. They made some suggestions and we implemented some changes. Some aspects of our Y2K effort are:

• Move our databases from the mainframe into Oracle.
• Analyze our business partners and tested their data.
• Update the mainframe hardware and software that support our business processes, like tracking calls, billing and accounts receivable, telemarketing, and revenue accounting.
• Ensure that all SIS facilities are compliant.
• Remediate and test all products and services.
• Remediate and test all desktop and server hardware and software

We expect to be finished with this project by the end of September. Of course, this would not have been possible without the support of upper management and of Sheshunoff employees alike. Thomson Financial's commitment to the effort was demonstrated in approximately 160 million dollars that they allocated to pay for it. (Sheshunoff's portion of this budget is approximately 4.5 million dollars.) Your support was demonstrated in the patience you exhibited during this period.

It will be worth it. Even if plans fall out of the sky January 1st, Sheshunoff will still be able to develop, maintain, and sell products and services into the new millennium.

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Last updated on 6/9/02