Archives For mobile

mobile

By Jeff Thomson, CMA, CAE, IMA (Institute of Management Accountants) President and CEO

Since my early career days in the telecommunications industry, people have always waited with baited breath for new technologies that could help businesses excel.

The accounting profession, in particular, is influenced by technology, and accountants can expect changes over the next decade and beyond.

A recent report from ACCA and IMA, “Digital Darwinism: thriving in the face of technology change,” focuses on 10 technology trends with the potential to reshape the profession and business landscape significantly. The most important trend identified was the rise in mobile.

Accountants are well aware of the significance of mobile. In fact, 78% of CFOs surveyed said mobile technology will have a large impact on their business in the years ahead.

The number of mobile phones overtook fixed lines in 2002, and while the numbers are still being counted, 2013 may be the year when internet-connected mobile devices such as smartphones and tablets trumped the number of desktop and laptop computers.

Mobile technology changes how, when, and where people can work and how effectively they can do their jobs, with 24/7 access to the office network and the cloud. Mobile commerce is intensifying. More and more products and services are bought and sold using m-commerce applications, mobile devices, and wireless payment terminals.

Accountants and the businesses they work for can seize the opportunities that mobile devices and targeted apps can bring.

For example, mobile technology can:

  • create faster and more connected workforces
  • enable access to information ‘anywhere, anytime’ to increase productivity
  • empower managers and employees to make informed decisions faster
  • support collaboration across the business
  • make products and services more accessible
  • create new products and services
  • improve agility to help grasp new opportunities as they arise
  • help predict financial performance with greater accuracy

Accountants are exploiting mobile technologies for productivity and efficiency gains, bringing businesses closer to their clients and suppliers, and staying connected to them, whether they are in the office or remote. Numerous mobile devices are being combined with cloud services to provide ‘anywhere, anytime’ access to specialist software and the associated business and finance data.

Our research found that 80% of accountants expect the profession’s adoption of mobile technologies to become widespread within the next two years.

Finance professionals already enjoy the convenience of mobile access to enterprise information. Accountants are also taking the opportunity to accelerate the cycle times for key processes, eliminating bottlenecks, reducing operational costs and improving productivity—leveraging all of this to become more strategic.

You can read more about the technology trends that are impacting the accounting profession by visiting the ACCA and IMA website, www.roleofcfo.com.

Advertisements

Helen Brand video-8656

By Helen Brand OBE, Chief Executive, ACCA

The second ACCA and IMA CFO Month starts today, and this year we are focussing on all things digital.

Today we live in an era of ‘digital Darwinism’, a time where technology and society are evolving faster than many organisations can adapt to the changes. This is one of the many underlying factors that led to the demise of stores such as Blockbuster and Borders. Yet technological advances continue to drive economic growth.

As trusted advisers to business, accountants and finance professionals around the world are expected to lead, not follow. The profession has historically been quick to identify and then exploit the huge potential of emerging technologies – from the earliest known records of commerce, to the earliest commercial computer systems.

Accountants’ enthusiastic use of the first programmable computers and widespread adoption of the spreadsheet helped to turn accountancy into the profession it is today; embracing of emerging technologies will turn it into the profession it aspires to be tomorrow.

Many new technologies have the capacity to influence the future of business and the accountancy profession, over the next decade and beyond.

ACCA and IMA’s latest report Digital Darwinism: thriving in the face of technology change, focuses on 10 technology trends with the potential to reshape the profession and business landscape significantly. These are developments that will change the way people live and work, and responses to them will determine the future success of individuals, organisations, and even countries.

The 10 technology trends that will have the potential to significantly reshape the business and accountancy landscape are:

  1. mobile;
  2. big data;
  3. artificial intelligence and robotics;
  4. cyber security;
  5. educational;
  6. the cloud;
  7. payment systems;
  8. virtual and augmented reality;
  9. digital service delivery;
  10. social.

Over the coming weeks during CFO Month 2014 we will be looking at some of these trends in a little more detail. In the meantime, to find out more about the technology trends impacting on the accountancy profession, please read the full report.