The Internet of Things and BYOD – What Does the Digital Revolution Mean for Business and Finance – Business Intelligence Info

PostedbyMarkWoodhams,NetSuiteEMEAManagingDirector

TodaytheInternetofThings(IoT)andBringYourOwnDevice(BYOD)arepoisedtotransformtheworldofbusinesswhethertheworkplaceandthebusinessprocessesthatsitbehinditarereadyornot。

AsmorebusinessesadoptBYODpoliciesandevaluatethebenefitsoftheIoT,ITandfinancedecisionmakersneedtobeawareofthepitfallsandpracticalitiesthateachtrendpresents。

Moreover,theyalsohavetounderstandwhatimplicationsthesetrendswillhaveontheirERPsystemsandonthewayfinanceisruningeneral。

BYODFlexibilityandgrowthareamongthebenefitsofmovingdataandinformationontomobiledevices。

Nearlyeveryoneinthemoderndaybusinessenvironmentownsasmartdevice,regardlessofwhethertheircompanyhasprovidedoneornot。

Thefamiliarityofworkingontheirowndevicecanhelptoempoweremployeesandincreaseproductivity,asuserswillalwaysbemorecomfortablewiththeirowntechnology。

It’snodifferentforthefinancialteamswithinanorganisation。

There,BYODcanimproveemployeesatisfaction。

Butunlikeotherdepartments,financehastobemorecontrolledandfollowstrictcompliancemeasures。

Controllingcompanyfinancialsonthegoviatruecloud-basedERPsystemsallowend-userstoaccessdatafromeverystepofamulti-channel,multi-locationbusiness,fromanysmartdeviceviaanadvancedwebapplicationmakingitperfectforfinancialteammembersonthemove。

Itgivesdecisionmakersa360-degreereal-timeviewofwhat’shappeningwithintheorganisation,nomatterwhereemployeesare。

IoTTheInternetofThingsisanothertrendthatcontinuestogaingroundintheenterprise。

Infact,aprimeexampleofhowtheIoTcanhelpwithbusinessprocessiswithsupplychainautomation。

Withtransactionsthatarepurelymachine-to-machinenowemerging,customersexpectarapid,automated,butstillpersonalisedservicethroughoutallstagesofthesupplychain。

Numeroustouchpointshavehistoricallysloweddownorderfulfillmentprocesses,buttherapidriseofconnecteddevicesalleviatesthisproblem。

Ordersarefulfilled,shippedandtrackeddirectlyfromwarehousedevicesremovinganychanceofhumanerror。

Butinorderforthisseamlessprocesstotakeplacefrontandbackendsystemshavetobeconnected。

Businessprocessesandthewaytraditionallydisparatesupplychainsystemscommunicatewithoneanotherhavetobecarefullythoughtthrough。

AsnotedbyFrostSullivan’s‘Disrupt,Collapse,Transform:CloudsRoleinIndustryTransformation’report,theaveragelifespanofacompanyhasgonefrom61yearsin1958to18yearstoday,andisforecasttodeclineto10yearsby2018。

Toensurethatcompaniessurviveandcontinuetogrowintodaysmarket,adaptabilityandflexibilityiscritical。

Tokeepupwiththesemarketchanges,allbusinessoperationsareevolving。

TheriseofBYODandIoTcreatesanincredibleopportunityforbusinessestocompletelystreamlinetheirsupplychainsandmore。

Completefinancialvisibilityfromanywhere,entirelyautomatedorderfulfillment,offsiteCRMmanagement10yearsagothissortofbusinessflexibilitywouldn’thavebeenattainable。

Butthisisjustthestartofacompletelynewtechnicalanddigitalrevolution,sohavingtherightsoftwareplatformisimperativetogiveyouandyourcustomerthebestpossibleservice。

PostedonThu,December4,2014byNetSuitefiledunder

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