Facilitating Effective Performance Management Via Computerized Accounting Systems: A case study of Sam Energy Company (SEC)

Abstract

Purpose: This study aims at examining the factors that facilitate effective performance management (EPM) via a computerized accounting system (CAS). This study researches how critical factors of Computerized Accounting Systems (CAS) (technology) such as the provision of quality information, data protection, data integrity, data accuracy, data collection, data storage, and data processing coupled with an effective performance management system has transformed business companies to achieve competitive advantage to meet targeted performance with the consistent increase in the volume of business transactions and the current trend of stern competition.

Design/methodology/approach: Data was collected from respondents from the SEC in Ghana using self-administered questionnaire. The focus was to understand the current situation of workers to confirm the management problems that existed, and then recommend solutions to the problem.

Findings: The results showed that there is a relationship between them and that a computerized accounting system (CAS) is a collection of connected components that operate together to gather, store, and disseminate data for planning, control, coordination, analysis, and decision-making. Management's ability to use CAS to undertake a performance management evaluation helps identify the strengths and weaknesses of employees to improve the performance of their businesses. The adoption of an EPM strategy would facilitate growth and competitive edge via CAS and thus, the dissertation proposed a recommendation for the company to adopt and implement. The recommendation of CAS and EPM to other companies to adopt and implement is justifiable for improving growth and business success.

Research limitations/implications: The study would contribute to the existing relevant literature on CAS and effective performance management systems, as well as suggest a method for implementing an effective performance management system.

Practical implications: The research findings will assist SMEs in appreciating the importance of Computer Accounting systems (CAS) in the day-to-day operations of their organizations.

Originality/value: This is the original research work of the researchers and specifically explores the correlating between CAS and  EPM adoption  interpreting raw data. Proper references are provided to acknowledge the work of other researchers used in the study.