THE INFLUENCE OF BUDGETING SOFTWARE ON FINANCIAL PLANNING
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THE INFLUENCE OF BUDGETING SOFTWARE ON FINANCIAL PLANNING
The objectives of this research are to: (1) analyze the impact of budgeting software on financial planning, (2) identify the key benefits of using budgeting software, and (3) evaluate the challenges associated with adopting budgeting software. A survey design was chosen to gather data from financial managers and IT specialists. Using Taro Yamane's formula, a sample size of 376 participants from corporate organizations in Uyo was determined, ensuring comprehensive insights. The corporate sector was chosen for its structured financial planning processes and potential for software adoption. The reliability coefficient score of the survey was 0.87. Findings indicate that budgeting software significantly enhances financial planning by providing accurate financial projections, improving efficiency, and facilitating real-time adjustments. Recommendations include investing in advanced budgeting software, providing training on the use of budgeting tools, and continuously monitoring and updating software to ensure alignment with financial planning needs.
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