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Wayne Snell

Mobile is a Game-Changer for the Record-to-Report Landscape

In the last couple of years there has been a dramatic shift in the way that individuals access the Internet.  Desktop computing has given way to laptops, tablets and mobile devices.  In fact the transition has been so dramatic that for the first time this year there are more mobile devices in the world than there are people.  Of course this change has profound implications for businesses as well. Many software developers have a “mobile first” strategy, eschewing traditional ways of consuming information in favor of smart apps that allow business users to access corporate data on the move.

Mobile Technology Coming in Waves…

The first wave of mobile delivery gave executives access to emails on the move.  This was very liberating but really only scratched the surface of mobile capability.  The second wave allowed access to corporate information but was constrained by the limited data-speed and screen size of early mobile devices.

But the arrival of tablets and smart phones with much greater functionality has been a game-changer. Now enlightened businesses are using first-mover advantage to hone their processes and better engage with the workforce.   The Record-to-report cycle is one of the processes poised to benefit the most.

Business Intelligence was impetus for change…

Almost three quarters of organizations are providing their C-level executives with mobile access to corporate data. The impetus for change has been driven by the concept of mobile business intelligence and the desire to decrease so called “time to insight” and “time to decision” in a world in which executives feel pressured by market forces to make decisions in ever-tighter timeframes.

Record-to-Report is a new focus – Agility and Visibility…

The opportunities presented by mobile technology extend well beyond the narrow confines of business intelligence.  Today there is also ground breaking technology which provides finance executives greater agility and increased visibility around the Record-to-Report cycle with secure 360° mobile management and review in real-time.

Record-to-Report Mobile ApplicationThis mobile technology has profound implications for the way organizations respond to risk, manage their financial close and prepare data for financial reporting. But of course only organizations that have invested in integrated technology for the entire R2R process will be able to realize the full potential of mobile technology.

Posted in Cadency Mobile, Compliance | Governance Solution, Financial Close, Record-to-Report | Financial Governance

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