Cloud accounting and the performance of deposit money banks in Nigeria

https://doi.org/10.55214/jcrbef.v6i2.1029

Authors

  • Ozondu Mary Ebere Department of Accountancy, University of Nigeria, Enugu Campus, Enugu State, Nigeria
  • Ojukwu Chioma Obianuju Department of Accounting, University of Port Harcourt, Choba, Rivers State, Nigeria;
  • Chukwunwike Onyekachi David Department of Accountancy, University of Nigeria, Enugu Campus, Enugu State, Nigeria

The current technological era of the 4th Industrial Revolution (4IR) and the realities of the COVID-19 pandemic brought about challenges and opportunities for DMBs; these challenges necessitated this study. The study examined empirically the relationship between cloud accounting and improved customer service delivery, which have effect in the financial performance of deposit money banks (DMBs). The study adopted cross-sectional survey research design. The structured Lickert scale questionnaire was raised from the objectives of the study and administered to the information technology and communication (ICT) unit of the sampled DMBs. The outcomes of the administered questionnaires were analyzed using the descriptive statistics and Spearman’s Rank Correlation Coefficient. Results show that cloud accounting has a significant positive relationship with financial performance of DMBs. In addition, Information Technology Trust has a positively significant moderating effect on the relationship between cloud accounting and financial performance DMBs.  Also, the study revealed that Visualized Transaction Reporting and Self-service Transaction Reporting have significant positive relationship with productivity and profitability of DMBs. In conclusion, cloud accounting significantly moves in the same direction as financial performance. Hence, the study recommends that banks should do more investment in cloud accounting technologies for improve customer service delivery in their operations, which will in the end boost financial performance.

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How to Cite

Ebere, O. M., Obianuju, O. C. ., & David, C. O. . (2024). Cloud accounting and the performance of deposit money banks in Nigeria. Journal of Contemporary Research in Business, Economics and Finance, 6(2), 68–80. https://doi.org/10.55214/jcrbef.v6i2.1029

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Published

2024-07-05