1. Use Sharepoint or Intranet Networks: Both big and small business will find a great need of having an internal intranet network. A website used by employees and business owners at work only, intranet websites or portals can not be accessed from out side the company because their hosted on a local company server, and this helps the business exchange information with its employees without exposing it to the World Wide Web (www). Many companies have these networks and employees have intranet emails used for communication at work only. Business managers can easily draft a message and send it to all employees via an intranet network; also employees can use the same network to share information with in the business. This all process protects information and it also facilitates the flow of information with in the business. Big companies like Apple, Microsoft, Dell, IBM still use these intranet networks to communicate with their employees.
5. Use Social media: Both companies and consumers use special social media to communicate. Well established businesses use company based social networks like , as of now, is being used by more than 200,000 companies worldwide. For those who are not aware of this network, it’s an enterprise social network, basically created for companies and employees to exchange business and work related information. You can only use this network if you have a custom company email address, so only people with a verified company email address can join your company network.
44. Use of Plastic Money Cards: Technology has played a big role in changing the face of banking industry. Unlike in the past when you had big sums of money and get exposed to risks of moving with lots of cash, today, plastic money cards are being used to make transactions of any kind. Many banks have VISA CARDS or CREDIT CARDS which can be used worldwide to purchase products or make payments of any sort. The same smart money cards can be used online because all e-commerce websites accept payments with Visa or Debit cards. When the owner of VISA CARD makes a purchase, that money will be transferred from their bank accounts to the merchant’s account, so the all process of exchanging money is electronic.
59. Data Security and storage: Accounting as a process deals with analyzing financial data of a business or an organization. Technology helps in keeping of this data safely to ensure that it can be retrieved at any time by employees in the financial department. Financial information is very sensitive, so it can not be accessed by any one in the business or organization. It is only people with experience in accounting who have access to this data, so securing this data on an encrypted data server is very important. Many accountants have undergone special technological training so that they learn how to use various accounting technologies like computers and accounting software.