Accounting Goes Mobile

Accountants are steadily adapting to changing technology with demand for functionality on mobile devices on the rise. Not only are the young integrating mobile technology with work, but professionals across the generations are embracing the cloud, reaping the benefits of increased accessibility and flexibility.

In a survey of 501 small business owners conducted by Intuit it was found that 80 percent relied on having their company data available at all times and everywhere with 48 percent expecting to increase their usage of mobile devices for work.

Furthermore, the use of these devices is on a clear upward trend across the generations. In highlighting one of the advantages of integrating cloud and mobile based platforms with work, the survey also found those with increased access making time savings of nearly 9 weeks a year.

With the traditional ways of accounting that relied on static data storage and filing cabinets, no longer suited to the fast paced office environment of today, using mobile devices is becoming the option of choice for those wishing to stay relevant and grow. This message has started to percolate through the sector, and software providers are now increasingly developing their products to fit the mobile market.

Leading software providers have already started syncing their products into the mobile space. Some of these examples are:

1. Xero has just recently launched a mobile app, Xero Touch for Android, complementing its current iOS app.
2. MYOB, a staple for most accounting companies, has also announced the release of MYOB PayDirect, which will allow staff and owners to manage their payments. The free app, scheduled to release later this year, would be capable of letting customers make direct payments, sending receipts and storing invoicing details. 
3. Intuit and Reckon One are also heading the mobile way, albeit with a difference. Both are tailoring all their services to be able to be run on mobile devices, instead of developing specific apps.

With everybody coming on board, next generation accounting with integrated mobile and cloud services seems poised to change the way the profession operates. And in the years to come, one can only expect greater developments in this sector providing for a dynamic evolution of the accounting profession.

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