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The study of 25 Scottish financial institutions found "disturbing" evidence that many were unprepared for what is known as e-commerce or business via the internet.
Software development and consultancy company Spektra Systems, which conducted the survey, said most institutions were unaware of the benefits of the internet as a business tool and the threat European rivals who have adopted e-commerce can pose.
The research was carried in conjunction with the Scottish Software Federation and was delivered ahead of the ScotSoft 99 conference in Edinburgh, billed as Scotland's most important information technology conference this year.
It found most institutions believed the internet was vital in attracting and keeping customers, but while 32% were developing and redeveloping e-commerce strategies, 68% had no long term strategy.
The study found that 54% of institutions were at the stage of evaluating their e-commerce strategy, with only 14% at an advanced stage and 18% operating with new systems in place.
Spektra Systems spokesman, Euan Robertson said: "Overall, the research showed a general lack of understanding of the benefits of the internet although there are some organisations that have put serious plans in place and are acting on them.
"Most institutions are realising the benefits of a website as a shop window or an online interactive brochure, however only a small number have addressed the internet strategically and therefore are not planning for the future."
Leading figures from the world of information technology gathered in Edinburgh for the ScotSoft 99 conference, which looked at how Scottish companies can benefit in the consumer and business software markets.
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Spektra Systems
Scottish Software Federation
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