Brokersoft Ltd has announced it has ceased trading with immediate effect.
It said that despite positive feedback on its Windows-based product, it had a "lack of actual orders".
It blamed the "appalling" level of apathy in the industry for this, as well as an unwillingness to accept a short period of upheaval in order to improve productivity in the long-term.
Director G.L. Weatherill said: "We have now been informed that Groupama have made Full Cycle EDI mandatory for June 2002 new business inception which we cannot achieve, and subsequently more orders have been cancelled, further orders will be lost and even existing clients are now making alternative arrangements.
"There is little hope of obtaining target sales, prior to July 2002, to meet current and future company liabilities."
