This report seeks to bring insight into the challenges and opportunities of SoMoClo for finance professionals, but, above all, encourage people around the world to experiment and discover even more exciting opportunities for themselves.
The term ‘SoMoClo’ – the coming together of social, mobile and cloud technologies – represents the possibilities unleashed as these rapidly developing technologies begin to overlap and interact with each other.
So far finance and accountancy’s adoption of SoMoClo has been less marked than in other functions, but cloud applications are growing. These applications enable remote working, which in turn encourages social interactions.
What is clear is that the growth of SoMoClo can be neither resisted nor ignored. CFOs now need to take a leadership role in this area. Below are the imperatives for finance: