798354--3/15/2006--FISERV

related topics

{system, service, information}

{regulation, government, change}

{customer, product, revenue}

{product, market, service}

{property, intellectual, protect}

{acquisition, growth, future}

{competitive, industry, competition}

Our acquisition strategy subjects us to risks, including increased debt, assumption of unforeseen liabilities and difficulties in integrating operations. We operate in a competitive business environment, and if we are unable to compete effectively, our results of operations and financial condition may be adversely affected. If we are unable to renew client contracts at favorable terms, we could lose clients and our results of operations and financial condition may be adversely affected. If we fail to adapt our products and services to changes in technology or in the marketplace, or if our ongoing efforts to upgrade our technology are not successful, we could lose customers. Consolidation in the financial services industry could adversely affect our revenues by eliminating some of our existing and potential clients and could make us more dependent on a more limited number of clients. We may experience an operational failure in our outsourcing or transaction processing facilities which would harm our business and reputation. Our ability to compete in the health plan administration business requires us to arrange for network provider services with third parties over whom we have no control. We may experience software defects, development delays and installation difficulties, which would harm our business and reputation and expose us to potential liability. We have a long sales cycle for certain of our applications and if we fail to close sales after expending significant time and resources to do so, our business, financial condition and results of operations may be adversely affected. Security breaches or computer viruses could harm our business by disrupting our delivery of services and damaging our reputation. If we fail to comply with regulations imposed on providers of services to financial institutions, as a trust company or as an administrator of health services or if the national flood program is amended or substantially changed, our businesses could be harmed. Misappropriation of our intellectual property and proprietary rights could impair our competitive position. If our applications or services are found to infringe the proprietary rights of others, we may be required to change our business practices and may also become subject to significant costs and monetary penalties.

Full 10-K form ▸

798354--3/15/2006--FISERV_INC