A survey by Bill.com shows that enterprise mobility is getting a big boost in the financial management sector, thanks in large part to the surge in data storage in the cloud.
After interviewing more than 500 CFOs, controllers and finance managers, Bill.com reported that two-thirds of those surveyed processed at least some financial transactions using mobile payments and cloud technology.
As a provider of cloud-based cash management and accounting software, Bills.com was quick to point toward better mobile security and the reliability of cloud computing in general. However, the numbers prove the trend, showing that “almost half of the respondents stated that they wanted to expand the use of their mobile devices beyond approving transactions to sending reminders, adding notes to documents stored on the cloud and, most importantly, managing their cash flow.”
Bill.com calls such avant-garde executives “No Check CEOs,” a potent new market for enterprise mobility solutions. No Check CEOs depend on mobile payments and automated cloud processes to take care of the data side of management. This allows executives to skip the more tedious, paper-bound moments at the office and move freely throughout the company, interacting with employees and making a more marked difference.
This partnership between the cloud and mobile management is rich with possibilities for increased efficiency or retooled strategies. Cloud collaboration, for example, allows managers and clients to interact in real-time, exchanging data no matter their respective locations. The ability to troubleshoot problems or offer advice in the middle of projects can save time while preventing costly mistakes. When speed is necessary, the ability to e-sign documents and electronically process checking account transfers can also be invaluable.
Considering how much the mobile cloud trend is affecting CFOs, it is no wonder they are especially quick to recognize its importance — 44 percent reported that the ability to process mobile payments was a business requirement.
Fortunately for vendors and mobile developers, there is still plenty of room to offer additional solutions for the financial market. Only 11 percent of the surveyed managers said they were processing more than half of their transactions on mobile devices, but a high 83 percent believed that their mobile solutions were secure, leaving plenty of room to win over more executives to the mobile world.
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