The Year 2000 computer code dilemma has been called the challenge of the century, among other suitably terrifying terms which have pushed even the most techno-wary senior managers to ante-up for system remedies. But for those who remain unmoved, Thinking Tools has created Think 2000, a risk simulation program that graphically illustrates the effects of a bank's particular Y2K risk exposure to its bottom line. "We are helping understand the actual risks to their business and then help prioritize what they should do and when they should do it," says Phillip Whalen Jr., president of Thinking Tools.
Think 2000 has three main components: an enterprise model building capability, an agent-based adaptive simulation engine and a plan manager that allows companies to input their mitigation and testing plans. The model maps out business functions and the technology resources and risks associated with each. The agent-based simulation engine is more robust than other rules-based systems, Whalen says, and therefore more suitable for the complexity of the Year 2000 issues.
And while nearly every financial institution is entrenched in Year 2000 solution projects-and those that aren't are at the mercy of the FDIC- analysts say Think 2000 could still be a valuable investment. "The best time to use Thinking Tools is after you have done an assessment and inventory because then you can load all that information on the tool," says Stephanie Moore, senior analyst with the Boston-based Giga Information Group.
Think 2000 is built for large and mid-size banks, Whalen says, and sells for about $25,000 per unit. Large banks may require up to three units.