Digitalization, Internally Generated Revenue and Financial Performance of The Polytechnic Ibadan, Ibadan, Oyo State
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Date
2024-11
Journal Title
Journal ISSN
Volume Title
Publisher
LCU
Abstract
Digitalization of business transactions has emerged as a great phenomenon which has had a
transforming effect on institutions across society. The digitalization was initially driven by
private sector interests, but governments have showed interest by adopting technology in
achieving services delivery and their operations. Technology has automatically changed the
way businesses is done in The Polytechnic of Ibadan and different institutions compared to
previous times. But despite the advantages there are still shortcomings like brain drain of ICT
qualified human resources especially on fiscal matters. Thus, this study objective is to examine
the role of digitalization in generating more revenue to bursary department of The polytechnic
Ibadan and time-frame is between 2015-2024. The study was anchored on Technology
Acceptance Model (TAM). The study adopted a qualitative method to elicit information. The
methodology combined interviews and literature review to gather in-depth insights. The
findings of the study show that digitization of revenue process is the best way to handle fiscal
matters in The Polytechnic Ibadan and embracing digitalization is the most effective strategy
for The Polytechnic Ibadan to attain its financial objectives. Also, it was concluded that the
modes of operation of generating funds are basically online in The Polytechnic Ibadan, but the
institution is still in need of improvement of the bursary department for productivity. The study,
therefore, recommends that by digitizing processes and automating tasks, institutions can
streamline their operations, eliminate manual errors, and save time and resources.
Description
Keywords
Digitalization, Revenue, Financial Performance, The Polytechnic Ibadan