In its new iPhone 2.0 is Ready for the Enterprise but Caveats Apply report, analyst Ken Dulaney argues that iPhone 2.0 is "acceptable for business use at the appliance level".
"However, each enterprise will view iPhone through its own lens, which will be heavily tinted by the organisation's security and management needs," he concluded.
"Enterprises should approach expanded use of the iPhone slowly and with close examination."
In particular, the report finds that the iPhone only implements four of Microsoft Exchange's security policies – there are potentially 46.
Apple's reluctance to engage third-party security vendors may further damage its security rating, the report suggested.