The role of information and communication technology in financial and operation management: the case of Pivotech Company Limited

The role of information and communication technology in financial and operation management: the case of Pivotech Company Limited Given Mteleka Master of Business Administration University of Dar es Salaam, Business School, 2019

The development of ICT affects financial operation management of many organizations and therefore it is vital to investigate to what extent ICT contributes to the efficiency and effectiveness of organizations especially in financial and operation of firms. The general objective of this study is to investigate the role of ICT in financial and operational management evidence from Pivotech Company Limited located in Kinondoni- Dar es Salaam. Specifically, the study examines how ICT was integrated in financial and operation management in organizations, identified the role of ICT in improving financial and operation functions in organizations, analyzed the challenges facing organizations in adoption of ICT as a tool for financial and operation management and established approaches that can enhance full utilization of ICT in financial and operation advantages. The study was guided by technological Acceptance Model and employed quantitative research approach using descriptive research design. A total of 40 respondents from departmental managerial level were randomly and purposefully sampled and involved in the study. Data were collected using questionnaire, descriptive statistics employed to analyze quantitative data with an aid of Microsoft Excel Software and SPSS version 22. The presentation of findings was done through tables, bars and pie charts for clarity and impression. The study findings revealed divergent views among employees regarding their perception on integration of ICT in financial and operation management, the results also show positive correlation between the level of ICT integration and achieving day to day activities of the Company. In departmental level the results show that ICT have been integrated in all departments related to financial and operation management hence smoothen the daily operational in related functions such as Electrical operation, HR, finance, civil engineer, ICT engineer, etc. the benefits gained by the company by the company after the implementation of ICTs include better online and offline support for their customer, report generation on cash flows, financial forecast, quality services and very interactive websites. However, challenges like lack of training or support, lack of interest on ICT, Cost of purchase and maintenance, inadequate power and network infrastructure are observed in findings. Furthermore some strategies were addressed in findings to curb out the challenges like collaboration of ICT consultant and training. The study concludes that, studies on the role of ICT in financial and operation management is not an instance but a process in which organizations seek change from old mode of operation to the contemporary fully integration of ICT in financial and operation management to enhance efficiency and productivity. The study recommends that, in contemporary world, integration of ICT in financial and operation management is inevitable as it has clearly revealed its contribution to organization efficiency and effectiveness and hence growth and training of employees must be taken as key and successful factor in this juncture.