THE ROLE OF INFORMATION SYSTEMS IN FINANCIAL MANAGEMENT
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- NGN 3000
THE ROLE OF INFORMATION SYSTEMS IN FINANCIAL MANAGEMENT
Abstract: This study aimed to explore the role of information systems in enhancing financial management within organizations. The objectives were to investigate how information systems improve financial reporting accuracy, streamline budgeting processes, and support strategic financial decision-making. A survey research design was employed to collect quantitative data from 270 respondents, selected using the Taro Yamane formula to ensure representation across financial services, manufacturing, and healthcare sectors. The study focused on a case study of a multinational corporation in Port Harcourt, known for its integrated financial information systems and global financial operations. Conducted in Port Harcourt, the reliability coefficient score was calculated at 0.88, indicating strong internal consistency in survey responses. The findings highlighted that information systems in financial management enhance data transparency, reduce financial risks, and improve compliance with regulatory requirements. The study recommends that organizations invest in robust financial information systems, integrate financial analytics capabilities, and align financial IT investments with strategic goals to achieve sustainable financial performance and competitive advantages in global markets.
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