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Smartphones are having an impact on how small and medium enterprises (SMEs) do business in Australia.

A recently released report by PayPal has found that of SME owners who use a smartphone​, 77 percent say that smartphones help them stay up to date with what is happening in their businesses. Nine out of 10 SME owners and managers said they would find an all-in-one device useful.

An all-in-one device would allow the user to make automated email receipts, log cash payments and invoice customers. When SME owners and managers were asked about the future of mobile payments, 57 per cent said they think they would be taking a larger amount of mobile payments in five years’ time.

People spend more time on their smartphones than any other device. According to research by Millward Brown, the average Australian spends 132 minutes on a smartphone a day. The top uses for smartphones in business are taking photographs or videos, sending and receiving email, and general organisation. Currently, only 36 per cent of SME​ owners use smartphone​s to accept payments – which is surprising when there are many excellent POS solutions available for tablets & smartphones.

PayPal Australia’s Small Business Payments Research interviewed owners or decision makers of 534 Australian SMEs. All applicants had to accept credit card payments or think it was a good idea in order to participate in the survey. However, only one in 10 had invested in the necessary system to allow for people to buy by smartphone.

Smartphones allow users to carry out a range of functions with a tap of a button or a flick of a finger. Owners and managers who used smartphones in their day-to-day business were eliminating the need for phone books and maps, with three-quarters responding they no longer used the physical copies anymore. In addition, 37 per cent said they now use less cash.

SMEs looking to adopt this technology might be wise to invest in Mobile Device Management because it enables businesses to conduct business across a range of platforms including smartphones, tablets and laptops.