The list includes some technology solutions that have been around for a while and some that are relatively new.
A major challenge of today’s technologies is that there are too many of them. Innovations occur daily, and companies can’t keep pace with the associated changes, complexities, costs, and risks for adopting them.
Earlier this year, IMA’s Technology Solutions & Practices (TS&P) Committee identified more than 200 technology trends gathered from analyst firms, technology visionaries, business and technology media, and market research. After analyzing them, the Committee selected those most relevant to management accountants. The goal is to use this list as a guide to develop resources for IMA® members so they can further their understanding of and leverage technology in their business. Here are eight key technology trends for 2015.
We see some of these trends as being far more important than others for their ability to positively influence the MA’s work. Of all of them it is most likely that all MA’s in all organisations need to embrace the use of Business Intelligence and Analytics. Failure to do so will soon mean that these professionals will spend more time looking for and organising relevant information than gaining and communicating insights from the organisations data assets.
Employees are now able to replicate the capabilities of their computers onto their increasingly sophisticated mobile devices that are capable of advanced predictive or prescriptive analytics so they can make decisions where and when they need to by using the latest reliable data. This means employees are able to provide higher-quality information for their organizations and make better decisions no matter where they are. This also leads to potential competitive advantages for a company.
Mobile computing is simply something that today’s workers will take for granted, so this capability needs to be enabled for all information dissemination systems.
Cloud computing is the storage of and access to data and programs over the Internet rather than through traditional, on-premise computers, networks, and servers. The cloud increases the computing capacity and capabilities of companies in a cost-effective manner.
Cloud computing is more about cost and convenience rather than any particular import this technology will have on the work that MA’s do.
These trends represent a diverse, meaningful collection of technologies that will benefit companies of all types and sizes. They will also help management accountants and finance professionals move higher up the value chain in their organizations—from traditional transactional reporting roles to more strategic roles—helping guide their businesses into the future.
This is good advice. Management accountants should be aware of the assistance emerging and improving technologies are able to provide to their particular organisation. The importance of the other technologies identified are much more about strategy and circumstance than the technologies themselves. The important question of “how will the business benefit” needs to be answered before any new technology is invested in and implemented.
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