Despite the advent of ATMs and banks opening branches in unusual places like grocery stores to make banking more convenient, sometimes those services aren't what you need to run the finances of your business efficiently.
Industry experts indicate that every day, more than 1 million new smart phone devices are activated. Add to that the millions of iPads and tablets people consistently utilize to oversee their businesses, and it's obvious there is a burgeoning market for creating ways to help people manage their company's finances on the go.
Before choosing an app to help you oversee your business's money, determine what you want to accomplish. Just like a person can become easily distracted when they have too much on their plate, it's also wise to rely on an app with one primary focus.
What to look for After deciding what you'd like a financial app to help you accomplish, it's a good idea to check out apps offered by various financial institutions and brokerage houses to see what their offerings accomplish. For example, major banks, especially those who are technology-friendly (such as PNC), offer mobile apps that not only allow users to check their account balances, but also to pay bills and access e-bills remotely. You can't get more on the go than that.
While researching available apps, it's useful to remember:
• Most apps cost under $5, so even if you try one and don't end up liking it, you haven't invested too much in it • Apps can't make financial decisions for you, but do reinforce the monetary choices you make using them • To be mindful of security. You aren't doing yourself any favors by banking on the go but leaving your smart phone connected to your financial information after you're done banking
Some “app-ropriate” suggestions for banking on-the-go There are countless apps available for both Apple and Android devices, but some will be more useful for your banking needs than others. Among the more popular financial apps designed to help company owners manage their finances on-the-fly include:
• Pageonce: Pageonce is an all-around money app compatible with iOS, Android, Blackberry and Windows phones
• Mint: Mint is the most widely-used app for tracking money. It features a welcoming interface and is cross-compatible between iOS and Android phones. Mint will also notify users by email is any unusual account activity occurs
• Expensify: Expensify is a dependable app for tracking daily expenses. There is nothing fancy about it but is extremely functional
• OneReceipt: If you're looking for a personal receipt assistant, this app is the answer. Link your email to capture all eReceipts or take pictures of paper receipts and email them to your account with the app, and OneReceipt will organize them for you
• Credit Karma: Helps users monitor their credit scores and unusual financial occurrences that can impact a person's credit
New apps aimed at technology-hungry entrepreneurs who wish to bank-on-the-go hit the market all the time. That's good news, if the results of a 2014 survey conducted by investment giant Fidelity are to be believed. According to Fidelity's research, 56 percent of American investors are comfortable using their smart phones and other devices for sophisticated investment-related tasks.