• March 15, 2013

Pack Your Bags, Folks: The Finance Industry is Moving to the Cloud

Trapp Technology

Pack Your Bags, Folks: The Finance Industry is Moving to the Cloud

Pack Your Bags, Folks: The Finance Industry is Moving to the Cloud 1080 454 Trapp Technology

finance-moving-to-the-cloud

More and more businesses in the finance industry are moving to the cloud — Are you one of them?

A recent survey shed insights into how more than 510 CFOs and finance managers across multiple industries who have automated their payables and receivables process are using mobile technology for business financial transactions.

Survey respondents consisted of CFOs (46%), controllers (36%), and financial managers (18%). Overall, the study discovered that a majority of financial professionals are moving to conducting business via the cloud and mobile devices. 66 percent of respondents are now processing transactions from their device with the majority moving towards conducting more business via the cloud and mobile devices.

While this isn’t much of a surprise to us here at Trapp Online, we’re so glad that more and more people are becoming aware of how useful the cloud can be for their business. Here are some more results from the aforementioned survey: 

  • 66 percent of respondents are now processing transactions from their device with the majority moving towards conducting more business via the cloud and mobile devices.
  • 44 percent said that the ability to process mobile transactions is a business requirement.
  • 30 percent of mobile users said they are processing more than 25 percent of their transactions on mobile devices.
  • 11 percent are processing more than 50 percent of transactions on their mobile devices.
  • 70 percent of respondents felt that the reliability of mobile financial transactions is good or excellent.
  • 83 percent found mobility to be secure.
  • Nearly half of the respondents stated that they wanted to expand the use of their mobile devices beyond approving transactions to sending reminders.
  • 43 percent already see managing cash flow from their mobile device as important.
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Do you use the cloud and cloud compatible mobile devices in your day to day business operations? Is it a simpler way of getting things done? We love to hear from you! 

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