The enterprise resource planning (ERP) landscape is highly distributed, with businesses not confined to one office or geography, and crucial decisions are often made on the go. In this article, you will learn about the role of compliance and the advantages of moving to Mobile ERP systems.
Mobility ceases to remain a ‘nice to have’ element for organizations. It now becomes a ‘must have’, as executives need to collaborate, analyze, and lead teams from wherever they are in the world. However, an increasingly mobile workforce is just one challenge. The other one is the rise in consumer expectations.
Companies face constant challenges in providing high-quality products and services while adhering to industry and government regulations in their internal processes. To do this, they have so far relied on manual or legacy IT systems that make compliance difficult to manage.
The Role of Compliance
Is mobility needed for compliance?
Is compliance the only reason to get B2E apps?
But real-time compliance management is important and confers compliance benefits to enterprises. First, let’s consider prevailing perceptions on compliance.
Most companies overlook the compliance angle when calculating ROI on enterprise mobility apps, focusing on employee productivity, error reduction, agility, time, and cost savings. This oversight is unfortunate, as compliance benefits from mobility are substantial and strengthen the case for enterprise mobility investments.
Surely, modernizing legacy applications like Oracle EBS has practical and long-term consequences for internal and external compliance management.
5 key Compliance Benefits with Mobile ERP Systems
1. Prevent Use of 3rd Party Apps
Apps can simplify and aid the performance of a variety of tasks. And that is the reason employees (despite warnings) bypass enterprise security policies to use 3rd party apps.
By limiting exposure of company processes and data to unauthorized apps, compliance is made stronger. For companies in industries subject to strict government regulation on data privacy and data safety, B2E apps are an urgent necessity. And for enterprises in general, introducing owned apps can keep proprietary information that lends competitive advantage(s) safe.
2. Access Control
Access to company or customer information must be strictly controlled in order to guarantee compliance. By limiting unwanted information and minimizing internal data leaks, role-based information access protocols via mobile apps benefits employees. Also, to prevent unwanted access, these apps offer remote device wipes and real-time updating of mobile access controls. For instance, information security is critical in the financial services sector, and strict access control and emergency measures are critical to avoid data exposure to unauthorized individuals.
3. Increased Accuracy & Accessibility
To provide real-time access to data and processes from any location, compliance tracking and enforcement are essential for businesses. Mobile devices improve reporting accuracy by minimizing late entry, double entry, delays, and last-minute decisions. Mobility apps improve operational agility and efficiency, which lowers non-compliance and serves as the foundation for a quicker, more compliant decision-making process. Lastly, for a decision-making system to be more effective and compliant, accurate field data is necessary.
4. Efficient Project Management
Lack of mobile workflow access in projects hinders management visibility, leading to non-conformance to internal or regulatory policies. Furthermore, to strengthen compliance, companies need real-time compliance management. Mobile-enabled workflows enable field executives to report issues in real-time, allowing management to initiate remedial action on flagged issues. Above all, this helps in preventing non-conformance and ensuring smooth project execution.
5. Achieving Cost Savings
Mobility apps enhance performance by providing real-time access, tracking, and response for employees, reducing audit impact and compliance with regulations. They boost employee productivity, reduce transaction and audit costs, and yield high ROI. Hence, modernizing legacy business applications is crucial for digital transformation, boosting efficiency, employee satisfaction, and competitiveness.
To sum up, the compliance argument presents a strong case for investment in enterprise mobility apps. And, if looked at from the utility and usability perspective, mobility apps are a must have for modern enterprises. Undoubtedly, employees (not just millennials) have expectations. Thus, B2E apps that facilitate quick task completion will be appreciated by the employees.