Bring your own device (BYOD) plans continue to soar in global popularity. In fact, they have now become the norm – as opposed to the exception – across countless sectors and industries. However, BYOD plans have truly blurred the line between work and personal use of wireless and mobile devices. At the same time, the true costs for implementing these plans are not always visible. For companies looking to integrate BYOD plans into their current infrastructure, they must keep the following in mind: BYOD is supposedly a cost-efficient way to let employees use their favorite devices for work. Numerous enterprises have embraced BYOD plans and device choices to attract and engage new talent. Plans can include the latest phones, tablets, and Kindle devices that help enhance productivity and performance. With widespread adoption of BYOD – companies must be fully aware of the risk and cost factors involved. Spend Money to Save Money? Companies looking to institute BYOD plans must understand the cost structures involved. This includes optimal savings based on: Reimbursing employees each month for bringing their own wireless services and data plans. The difference between employee BYOD and mobile device management (MDM) plans. Deciding if corporate-owned and manage devices are more cost-feasible than employee plans. For most companies, the differences in cost tend to favor employee BYOD. There are, however, certain costs and considerations that must be taken into account during the reimbursement process. The following points are designed to help new and existing businesses understand the intricacies and details of BYOD expense allocation and reporting: Expense Reports Companies using expense reports for work-related mobile device usage must take the following into account: How long do employees spend filling out these reports? Take that number and multiply by 12 for workers that submit monthly reports. Do not forget to add in time spent by management, accounts payable, and finance department processing. · It is also imperative to decide which roles will be eligible for reimbursement. Businesses must ensure that these BYOD plans follow stringent guidelines and rules when it comes to usage. This means zero tolerance policies for personal business during work hours. The time required monitoring, overseeing, and review these task and policies should also be factored into expenses and budgeting. The Reimbursement Process The reimbursement process for BYOD plans usually affects several departments. This creates more work for accounts payable, along with end users, finance, and even shareholders. These processes can quickly add up in terms of employee time – and must be taken into consideration when deploying BYOD access and eligibility. It is also vital to calculate any taxes based on the reimbursement policies or formats enforced. While the verdict is still out, BYOD does offer a wealth of flexible benefits for employees. Still, it is easier for companies to own mobile devices for employee work. This is due to services they can purchase in bulk from a single carrier. With BYOD, companies have to facilitate multiple carriers and plans that will surely differ between employees. With single carriers, businesses have better bargaining leverage – as well as substantial discounts that surpass individual plans. In the end, the choice is simply yours to make.
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