THE INFLUENCE OF DIGITAL TRANSFORMATION ON FINANCIAL PERFORMANCE
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- NGN 3000
THE INFLUENCE OF DIGITAL TRANSFORMATION ON FINANCIAL PERFORMANCE
The objectives of this research are to: (1) analyze the impact of digital transformation on financial performance, (2) identify key digital strategies that drive financial growth, and (3) evaluate the cost-benefit of digital investments. A survey design was chosen for its ability to provide quantitative data on financial metrics. The sample size, calculated using Taro Yamane's formula, included 382 respondents from financial institutions in Lagos, ensuring relevance to financial performance. The financial sector was chosen due to its extensive digital adoption. The survey instrument achieved a reliability coefficient score of 0.88. Findings show that digital transformation significantly improves financial performance through cost reduction, revenue growth, and improved financial management. Recommendations include investing in advanced financial technologies, continuously monitoring financial metrics, and aligning digital initiatives with financial goals to maximize financial performance.
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