THE IMPACT OF ACCOUNTING SOFTWARE ON BUSINESS PERFORMANCE OF LICENSED FINANCE COMPANIES IN SRILANKA

Abstract

The business performance of the organization can become a better situation by using accounting software. These phenomena have been underappreciated, especially regarding the impact of business software on business performance of large companies in recent years. For this reason, this study seeks to enrich the understanding of impact of accounting software on business performance among the employees who are working in fourteen licensed finance companies in Sri Lanka. Hence, this research examines the accounting software (efficiency, reliability, ease of use, data quality, and accuracy) and business performance of licensed finance companies in Sri Lanka, the relationship between them, as well as the impact of accounting software on business performance in selected fourteen licensed finance companies in Sri Lanka. In this research study, primary data was collected. A structured questionnaire was used as the method of data collection. The stratified random sampling method was used to create the sampling framework for the study. The quantitative research approach was used. The data were analyzed using descriptive statistics, correlation, and regression analyses. This research study relies on a data set derived from its survey of 226 employees who are currently employed in fourteen licensed finance companies in Sri Lanka, and the findings indicate that there is good accounting software efficiency, reliability, ease of use, data quality, accuracy and business performance of licensed finance companies in Sri Lanka. It also showed that there is a significant positive impact of software efficiency on business performance, software reliability on business performance, software ease of use on business performance, software data quality on business performance, and software accuracy on business performance. Furthermore, the study discovered that accounting software (efficiency, reliability, ease of use, data quality, and accuracy) has a positive relationship with the business performance of licensed finance companies in Sri Lanka. Some of the limitations of this research study include the use of only qualitative data, the use of a five-point Likert's scale, and the study sample size being limited to 226 employees of licensed financial companies in Sri Lanka. Therefore, some measures should be taken to minimize the impact of those limitations faced to make sure that the research can be conducted more accurately.