Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEs
The study delves into the challenges and opportunities SMEs face in South-West Nigeria, focusing on the transformative impacts of digitalization, big data analytics, customer experience enhancement, and stringent budgeting controls on their financial performance. The research analyzes data from 825...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-12-01
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| Series: | Scientific African |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2468227624003715 |
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| _version_ | 1850100871250051072 |
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| author | Oziegbe Simeon Ebhota Yao Hongxing Agyemang Kwasi Sampene |
| author_facet | Oziegbe Simeon Ebhota Yao Hongxing Agyemang Kwasi Sampene |
| author_sort | Oziegbe Simeon Ebhota |
| collection | DOAJ |
| description | The study delves into the challenges and opportunities SMEs face in South-West Nigeria, focusing on the transformative impacts of digitalization, big data analytics, customer experience enhancement, and stringent budgeting controls on their financial performance. The research analyzes data from 825 SMEs through Partial Least Squares Structural Equation Modelling (PLS-SEM) analyze the data. The findings indicate that digital transformation significantly boosts customer experience, big data analytics, and budgetary controls. Enhanced customer experience and effective big data utilization reciprocally improve budgetary control processes, which are crucial for financial performance. The study reveals the mediating roles of customer experience and big data analytics in the relationship between digital transformation and budgeting control, highlighting the interconnectedness of these factors. Financial efficiency also emerges as a significant moderator in the nexus between budgetary control and financial performance, underscoring its influence on economic outcomes. This research proposed initiatives such as investments in customer relationship management systems, personalized services, and streamlined communication channels to create positive customer experiences that, in turn, positively influence budgeting outcomes. |
| format | Article |
| id | doaj-art-e38dbd526fa54000b0501507591fa32a |
| institution | DOAJ |
| issn | 2468-2276 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Scientific African |
| spelling | doaj-art-e38dbd526fa54000b0501507591fa32a2025-08-20T02:40:11ZengElsevierScientific African2468-22762024-12-0126e0242910.1016/j.sciaf.2024.e02429Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEsOziegbe Simeon Ebhota0Yao Hongxing1Agyemang Kwasi Sampene2Corresponding author.; School of Management, Jiangsu University, Zhenjiang, Jiangsu, 212013, ChinaSchool of Management, Jiangsu University, Zhenjiang, Jiangsu, 212013, ChinaSchool of Management, Jiangsu University, Zhenjiang, Jiangsu, 212013, ChinaThe study delves into the challenges and opportunities SMEs face in South-West Nigeria, focusing on the transformative impacts of digitalization, big data analytics, customer experience enhancement, and stringent budgeting controls on their financial performance. The research analyzes data from 825 SMEs through Partial Least Squares Structural Equation Modelling (PLS-SEM) analyze the data. The findings indicate that digital transformation significantly boosts customer experience, big data analytics, and budgetary controls. Enhanced customer experience and effective big data utilization reciprocally improve budgetary control processes, which are crucial for financial performance. The study reveals the mediating roles of customer experience and big data analytics in the relationship between digital transformation and budgeting control, highlighting the interconnectedness of these factors. Financial efficiency also emerges as a significant moderator in the nexus between budgetary control and financial performance, underscoring its influence on economic outcomes. This research proposed initiatives such as investments in customer relationship management systems, personalized services, and streamlined communication channels to create positive customer experiences that, in turn, positively influence budgeting outcomes.http://www.sciencedirect.com/science/article/pii/S2468227624003715Digital transformationBig data analyticsCustomer experienceBudgeting controlFinancial efficiencyFinancial performance |
| spellingShingle | Oziegbe Simeon Ebhota Yao Hongxing Agyemang Kwasi Sampene Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEs Scientific African Digital transformation Big data analytics Customer experience Budgeting control Financial efficiency Financial performance |
| title | Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEs |
| title_full | Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEs |
| title_fullStr | Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEs |
| title_full_unstemmed | Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEs |
| title_short | Investigating the influence of digital transformation, budgeting and budgetary control on the financial performance of SMEs |
| title_sort | investigating the influence of digital transformation budgeting and budgetary control on the financial performance of smes |
| topic | Digital transformation Big data analytics Customer experience Budgeting control Financial efficiency Financial performance |
| url | http://www.sciencedirect.com/science/article/pii/S2468227624003715 |
| work_keys_str_mv | AT oziegbesimeonebhota investigatingtheinfluenceofdigitaltransformationbudgetingandbudgetarycontrolonthefinancialperformanceofsmes AT yaohongxing investigatingtheinfluenceofdigitaltransformationbudgetingandbudgetarycontrolonthefinancialperformanceofsmes AT agyemangkwasisampene investigatingtheinfluenceofdigitaltransformationbudgetingandbudgetarycontrolonthefinancialperformanceofsmes |