Productivity On-the-Go: The Modern (Mobile) Approach to Accounting

Gone are the days when the members of your finance and accounting department are chained to their desks to get work done. Now, they can sign-off of their desktops in time to catch their kid’s soccer game. Modern, cloud-based technology enables them to sign-in to their smartphones to finish performing almost any task that can’t wait until tomorrow—or until they’re sitting in front of their desktop computer again.

Isn’t getting more work done more efficiently (and more easily) on the wish list of every financial professional?

Good news! The ubiquity of mobile computing, now mainstream in our personal lives, has deftly entered the realm of corporate finance. Here, we’re going to take a look at how cloud computing is making it possible for finance and accounting teams to take advantage of all mobility has to offer.

Mobility is All Around Us

Mobile communications are reshaping our professional lives. We carry smartphones and tablets almost everywhere we go inside—and increasingly, outside—of the office. We open laptops at airports, coffee shops, and our kitchen tables. We’re getting online, opening apps and thumb-typing our way through projects, whether we’re messaging team members, approving the payment of invoices and expense reports, or putting a finishing touches on a proposal document.

Consider these statistics that demonstrate the irrevocable hold of mobility in the workplace:

  • Fortune 1000 companies around the globe are entirely revamping their space around the fact that employees are already mobile, as studies repeatedly show they are not at their desk 50-60% of the time. (com)
  • 89% of organizations will offer mobile workstyles by 2020. (Citrix)
  • The number of devices managed in the enterprise has nearly doubled, growing by 72% from 2013 to 2014. (Citrix)
  • All digital growth is now coming from mobile usage, with mobile devices accounting for 65% of digital media time spent. On the other hand, the desktop, makes up only 35%. (comScore)
  • UK and US companies investing the most in advanced mobility tools yield the highest productivity and profitability gains: the most mature enterprises are 29% more profitable and 15% more productive than those in the lowest stage. (Synchronoss)

What’s making this possible? It takes more than arming your employees with mobile devices and an internet connection.

Cloud Accounting Brings Mobile Capabilities Into the Picture

Companies are deploying cloud technology, that when combined with powerful mobile capabilities, enables workers and their teams to access their systems and be productive anytime/anywhere. Citrix puts it this way: “By completely eliminating the traditional hard-coding that exists between people, devices, applications and data, organizations increase flexibility, decrease costs and increase the speed of change.”

There are so many reasons for finance and accounting professionals to adopt cloud-powered mobility in the workplace. It allows them levels of flexibility, convenience, and timeliness they simply could never get from their traditional, on-premise systems. When using financial management systems like Intacct, accounting teams benefit from:

  • 24/7 availability. The web is “always on,” and hosted solutions promise very little downtime, ever.
  • Location independence. A user can access their software (i.e. all of their data productivity tools) through their computer, tablet, or smartphone browser. If they have an internet connection, whether they’re in the conference room or living room, they can be productive.
  • Uncompromised security. Cloud-based solutions are inherently safe, thanks to encryption and other built-in, customizable safeguards; unlike the old desktop computer access, teams don’t need extra VPN software, security hardware, and IT support.

The end result is that with a mobile-friendly, cloud-based solution, your finance and accounting staff can stay connected, whenever necessary, with the information and people they need to do serve internal and external customers with ease. They can tap into any combination of cash management, purchasing, reporting, and collaboration tools, for example, to help them solve problems and serve customers without delay.

To learn more about how cloud accounting and mobility can help you work smarter, explore:

Your 24/7 Financial System: Empowering your Team to Work Remotely.

4 Tips for Fostering Financial Team Collaboration

5 Ways to Strengthen Your Vendor Relationships for Growth

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