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Abstract:
As information technologies grows progressively, the manual financial assets management systems have become gradually inadequate for decision needs. Consequently, county governments view computerization of financial assets management as a tool of ensuring effective and efficient information flow of financial data and although ICT adoption among county governments has recently increased, studies on the effect of computerization on financial assets management have not been undertaken. The aim of the study was to find out the effects of computerization on financial assets management. Data was collected using questionnaire and semi-structured interview guides. The study targeted 60 respondents in which no sample was taken but instead census method was used. The research found out that computerization has general effect on the level of efficiency of financial assets management and in particular efficiency aspects such as clear definition of roles and responsibilities, faster processing of information and improvement in following of rules, policies and regulations. Beside that operations cost of financial assets management is greatly affected by computerization and included such aspects as costs of maintaining employees and manual systems and preparation of yearly reports. The study recommends that in order to ensure that County Government of Bomet have quality understandable reports, they should invest more in computerization of financial assets in addition to development of staff so as to reduce resistance.
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