Hallo Money and its impact on the on the accounting workplace Essay

Hallo Money and its impact on the on the accounting workplace - Essay Example Make sure it is either about to happen or is just getting underway. Be specific. Answers such as â€Å"technology† will earn you a failing grade on this essay. WORKPLACE CHANGE: Hallo Money and its impact on the on the accounting workplace Hello Money is a mobile baking service that allows Barclays Bank customers to carry out execute financial transactions by using mobile devices such and personal digital assistant or mobile phone (Barclays, 2012). It is worth noting that Hello Money, like other mobile banking services, is different from the mobile payments, which entail the use of the mobile devices to pay for goods. Hello Money is performed through mobile web or SMS. The service has been particularly facilitated by the evolution of an array of technologies, such as smart phones and web based technologies, which create the allowance for installation of special features that support mobile banking. Currently, the popularity Hello Money continues to grow as many customers are i ncreasingly using it. Its full implementation implies the adoption of the automated accounting systems and this would significantly change the way accountants work. 2. Identify a primary and secondary stakeholder and explain why they qualify as stakeholders. Use the â€Å"Choosing a Stakeholder Decision Matrix,† located in Lesson 15, to identify a high influence/high importance stakeholder, as well as a secondary stakeholder who is either high influence,/low importance, or low influence/high importance. ... These have been pivotal in making the crucial decisions about Barclays Bank (Barclays, 2009). They have been behind the full implementation of the Hello Money mobile banking service. These stakeholders are high influence/low importance. SECONDARY STAKEHOLDERS: my secondary stakeholder is Mr. Harold, a close friend and an accountant at one of the Barclays Bank local branches. Mr. Harold has a lot to gain or lose from the introduction of the Hello Money service because the service prompt adjustments in the accounting systems. Mr. Harold does not have an authority to make decision for Barclays Bank, yet he is important to the firms operations. Mr. Harold is high importance/low influence stakeholder. 3. Describe the vested interest of these stakeholders in the issue you chose. Explain any current events or trends that may be currently affecting your stakeholder’s interests. This is the interests of the primary stakeholders, who include the senior managers and the executive committ ee members, is to enable the firms reach great heights of success. These vested interests have been informed by various advantages associated with mobile banking. First, mobile banking is expected to cut down the costs of service delivery to customers. For instance, it has been cited that the costs of conducting a mobile transfer is cheaper than teller transfer by about fifty times and ATM transfer by about ten times (Delloitte 2010; p 4). In addition, they are convinced that mobile banking comes with a lot of flexibility, both to customers and the firm itself. For instance, the service makes it easy for the bank to combine and sell other services and products that are offered in the bank, such as credit cards and loans, with relative ease.