IT has been by no means a total success. The Taurus System used by the London Stock Exchange was abandoned in 2003 as it was a disaster and has since been replaced by Crest. Taurus was a computer program that was intended to provide the Stock Exchange with a "state of the art, all conquering" automated system of electronic transmission. This would enable the securities industry to remove paper from the system. However, the UK securities industry is very diverse and everyone in the market was after something different. No one was prepared to compromise so the only solution available to the Stock Exchange was to combine all the various Taurus models into one immensely complex hybrid.
The Millennium Bug was prophesized as bringing about the cessation of life as we all know it, but thankfully predictions were worse than reality. If a problem occurs within a companies IT, whether through the IT or the IS, it must be quickly dealt with as in the world of IT, complications can cause chaos an alarmingly fast rate.
More successful examples of IT integrating with businesses is with virtual organisations. Here, IT is based on collaboration, partnership and networking rather than a formal structure of directly employed people, such as insurance and Benetton telephone banking. Without IT and its success, many companies would be unable to run successfully with many only being brought about after the introduction of IT.
