Determinants of Implementing Financial Management System: Kenyan Public Universities

Abstract

Financial Management Systems (FMS) in the current business environment has become a powerful driver in performance of business processes as it determines organizational growth and sustainability. With increased globalization, firms are facing unprecedented competition since they operate in a dynamic environment therefore they are in competition to adopt best business processes by investing heavily in the implementation of Financial Management systems in their financial activities so as to achieve efficiency, economy and effectiveness. Research has shown that the implementation of FMS is a complex, risky, resource-intensive process that requires major procedural changes and often involves high-level officials who lack incentives for reform. Therefore for businesses to succeed in this turbulent world, top management commitment and support, business re-engineering,capacity building and training are paramount. This book looks at the effect of these three factors on the implementation of financial management systems in Masinde Muliro University of Science and Technology, Kakamega County. The book is relevant to financial institutions and Universities