The potential market for software for Greek small firms (with up to 50 employees and revenue of 25 million euros) is estimated at 500 million euros and foreign information technology firms seem well placed to conquer it, according to Phaedon Hadzisavvas, former managing director of SAP Hellas. Hadzisavvas, through the firm’s new subsidiary Lydia, is now promoting the SAP Business One software product, designed specially for this size of company. At a recent presentation, Hadzisavvas said that foreign IT firms have the advantage over Greek ones, which are facing problems. «A careful reading of balance sheets of Greek firms – and some foreign ones, too – is striking in terms of their distance from modern requirements and the low level of liquidity.» Lydia hopes its SAP Business One will compete with Microsoft’s Navision, launched in Greece last year. Foreign IT firms believe that their Greek competitors have lost their credibility and their programs are lagging in terms of operability. Greeks argue in return that their programs are much better adapted to local realities and have much lower installation costs. «At any rate, firms remain hesitant regarding the purchase of new software programs. They tend to minimize their IT requirements, usually restricting themselves to those relating to accounting and taxation, and hesitate when it comes to the new challenges and the potentialities of tapping the Internet, ” says Hadzisavvas.