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8 Steps to Mobile Accounting

8 Steps to Mobile AccountingMore from the desk of our CFO! In addition to his recent CFO Thought Leader Podcast, Bill Price published “8 Steps to Mobile Accounting” in Accounting Today earlier this week. Like the rest of the world, accounting professionals are eagerly adopting mobile technology. However, rolling out mobile accounting for businesses can be complicated and there are a number of issues that need to be considered in order for it to be successful.

The complexity of a mobile accounting rollout will differ depending upon what a company hopes to achieve.  Any company looking to implement mobile accounting – and bring their finance departments into the digital age – must consider a variety of things at the outset. In Bill’s article he gave some tips, including:

1. Define Mobile Accounting

Mobile accounting could mean different things to different people and businesses, so the first step in a successful rollout is defining what it means to you and your company.

2. Security

CPAs and finance professionals must tackle increasingly sophisticated threats, ranging from cyberattacks to the loss of mobile devices by developing and implementing security policies and plans that cover all the potential risks.

3. The Universe of Devices

Different mobile platforms from companies like Apple, Microsoft, Google and Blackberry will impact if or how the devices work with the apps or mobile sites you decide to use.

4. BYOD or Company Issued

Companies have to decide if they’ll embrace a “bring your own device” (BYOD) environment, or insist upon company issued devices.

5. Apps vs. Mobile Web

Businesses need to figure out what type of accounting and financial tools their team will be using on mobile devices.

6. Regular Updates

It’s important to keep your accounting technology up-to-date by regularly updating apps and devices.

7. Mobile Privileges

There are plenty of reasons to set limitations on who has access, but the most important is security, especially since security experts will tell you that information security is mostly a people problem.

8. Compliance

Even though mobile accounting is a young but emerging trend, there are surely compliance issues in the highly regulated financial services industry to which companies must adhere.

Visit Accounting Today online to check out Bill’s complete tips on mobile accounting in a little more detail; or for a different look at the eight considerations, check out the online slide show.

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