Let me start

by saying that we at Accenture have just completed a fairly major global research program on Enterprise computing and
much of what I'm going to say will will describe some of our thoughts resulting from that research and and in essence
what we as we step back and look at our data, what we realized was that there is actually a very predictable pattern
with regard to technology and we are about in the middle of this pattern and the pattern is the following.

Every major technology, whether it's an individual technology or a series of technologies that represents, if you will, a waive all
starts with a major false start. It's almost inevitable for innovation to come, to be introduced to the world
before its economically viable and before a, before a mass adoption really occurs and this false start can be
represented by an economic bubble which we experienced in 2000. I don't know if are aware of this but if you look back
Chuck Phillips the president of, one of the president's Oracle before he went to Oracle was of a research analyst at
Morgan Stanley and he did a very interesting piece of research that showed that over the last 25 years, 98 % of the market
capitalization all software stocks occurred in two years, 1998 and 1999 and it shows you the order of magnitude that the
bubble had in anticipation of the Internet in particular. We are now in a very predictable pattern. It happened
in the railroads, it happened in Biotech. It didn't happen with Holland Bulbs unfortunately but it did happen
with Real Technologies and that pattern is one where a major false start occurs, it crashes, many enterprises who would use
the technology dismiss it and just when you least suspect, the technology actually starts gaining significant adoption
and creating extraordinary value. We believe we're at a crossroads where that value is about to pick up. It happened in the
railroads. So for example, in the late 1870's during railroad equity run up it was all laying of track. You know, people were IPOing
short line railroads and the promise of the, of a national railroad system before the economic reality
made some people very wealthy for a short period of time and made a number, a lot more people very poor. J.P. Morgan actually made all
his money, his entire fortune, after the railroad crash in the period where the railroads, where everybody else selling,


he started to buy up the short lines. What actually happened, several years after the railroad equity crash, was locomotives became more
powerful, the railroads actually became connected,

refrigeration cars were introduced and the meat packing

industry, I think it was 7 or 8 years after the first railroad crash, actually became a nationalized reengineered industry
and it created an enormous amount of wealth and continued to for a number of years after that. We believe we're at
the same period of time with the internet and that's why we titled this Technologies Unfinished Business and I'll go through
some of our research findings that we think proves the point although I think it is actually very intuitive. Although not as
intuitive to chief executive officers at this point in time.

What was interesting about some research that I'll share with you in a moment is something we didn't expect which is we did a
series of analyses on adoption rates of newer technologies and as a sidebar we ask a question
what was holding you back from adopting this newer technology and what we found was and our intent was to
showcase the adoption curve not this sidebar but this is my first slide. The sidebar was that we asked for nineteen newer
technologies including service oriented architecture, Web Services, virtualized storage, etc. What was really holding you back
from adopting the technology and this is the composite of four hundred Chief Information officers globally. 35 %, the number
one rated response was that the business isn't ready. IT readiness was actually fourth at 10%.

So what what we see here is that the technology, the tables have turned unlike 5-6 years ago, the technologies
ready, it's the business that isn't ready and what we see as a result of this is even though the technology is ready, only
15 percent of processes dealing with customers, suppliers and employees are truly on-line, web based and self serve even
though Chief Information officers tell us that well over double that amount could today the on-line, web based, and self serve and
the best companies in our research have four to five times that percentage of processes that are on-line, web based, and self
serve. Less than 10 percent of banking customers use on-line services. With all of the billions of dollars the banks have invested in
technology they still send us checks by mail. We still make payments by mail. We still keep the postal service in business by
adding our 37 cents every time we send the bill even though we could do that online and the majority of customers in the world
still do the paper based method of payment and only 25 % or less of doctors maintain electronic patient records even
though it's actually a very simple thing to automate. So what we believe is that we really are the equivalent era of the
ability for enterprises to make a great deal of money leveraging the internet and IT and yet there is some
barrier to adoption that's occurring.

What we believe is happening is that,

you know, it's a, it's the sunk cost theory in corporate finance. You know, which is essentially, you know, I just paid, pick your
number, 100 million dollars for my IT and even though I know that newer technologies would drive a great deal of value,
I'm going to leverage as much from that past one hundred million as I can and I am unwilling to sink costs to do that
and it is actually necessary for companies to sink their costs and to write off, even what they consider not
so old technologies but as we probably all know here, internet based technologies kind of age like