The Effect of Computer in Financial Organization

The Effect of Computer in Financial Organization

The development of computer system into the financial institutions is part of the information system function the technical expertise per system development is concentrated with most of the development activities which includes

–         Computer awareness

–         Computer in human resources management

i)        Impact on labour

ii)       Orientation

–         Management information system (MIS).

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SOURCE: Lee with 1964 system development system activities in overall organization.

Technology rates to the computer hardware and software available and structures means the formal organization of the information system department (IOS) is just a part of organization which is integrated more or les closely with the main stem of organizational activities. The mainstream activities rates to those activities, which represent the power center of the organization, that is, lop management.

“In the computer process there will be a dynamic interaction between structure, task, technology (computer) and people involved have to be intimate in that the people will know the computer well and the computer know them edictally were the staffs are not completion, educational facilities have to provide to ensure good quality of their output.

These training who knows and understands the content of the computer file is able to extract information by means of the package.

The decision to embark upon computer installation is not an easy one to make. The lost can be very high and it is often difficult to equate the cost within the benefits on a theoretical basis.

Most companies have embarked upon pilot computer excision involving a few breaches in order to gain benefits from a practical stead point. This fact that companies are prepared to spend quite large sums prepared to spend quite large sums on research and development activities in computer is an indication of likely trends in computer is an indication of likely trends in computing, and as facilities improved and experience is gained so will the possibilities of using terminals more extensively for financial work.

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It self confidence was pre acquisitive for deducting an impropriate application of existing techniques and for reporting the ready developed procedures in professional journals”6 This view still stands most Nigerians lack self-confidence in them and would want to hide and information that can rural this misappropriates of funds.

The introduction of the ready developed computer will surely enhance the spelling management tools available in the financial organization.

However, those questions revealing any misappropriate of funds hinders the awareness of computer in some firms and other financial institutions.

“The country cannot wait until it attains the ability to manufacture computer before she starts using them. To do so would tantamount to attempting to reinvent the wheel”7

“As rightly printed out, most western or industrialized countries did not with until they started manufacturing it before they could apply or use them. They first of all imported the computer, studied the application, and then went ahead to conducting research on what the computer is made of and Nigeria as a developing nation should borrow a leaf by using the same systematic approach to help solve the problem of inchoateness.


Guaranteed, men companies have computerized their operation today that it was some ten years back but still some an all day after. This goes to full that the instruction frets a tunable and unnecessary drain on valuable terms and human resources but for employers and its customers.

It only happens because for whatever reason, he issue of computerized finance have only been embraced by few institution while many still use out-dated tools in processing transaction and managing their operation the same techniques and tools they used when their customers base was small.

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Precisely, managers in this country lack accurate historical or produced information with which to plan affectively and these managers as a matter of facts needs proper management tools with which to perform their function. And one of those tools unquestionably is the computer.

But the computer by itself will not solve any problem neither will paper and paned nor a typewriter by him or her. They all require fully qualified managers and information processors to function and produce expected result. Computer is only a tool alert.

“The problem of understanding the social economic and political implication of a technology’s use is a very important one because it addresses the most basic flares and concerns of people (the fear of people using replaced by a machine.”8

There is those implication attached to the introduction of a new technology.

These includes:

1)    Creation of unemployment

2)    Rending most staffs reluctant

3)    Tin fear of being thrown out of office

4)    Job creation (experts and their categories)

5)    The need for further education in order to fit within the new information technology.

The purpose of introducing computer is to reduce the time lags between the collection of data, the processing of data into information and delivery of information computerized. It goes a long way in alleviating the problem encountered by inventories at their various duty post through reducing much paper work and wasting of their time searching for information which had taken place five year back.

The introduction and use of computer will only cause unemployment if the economy as a whole fails to respond to the increased efficiency and productively of same firm. As regards this problem of job creation or he fear of being thrown off by most staff depends on the management efficiency.

For instance, an organization hoping to manage their computer effectively have to consider the labour cost that as involved.

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They key to an efficient attainment the company’s objectives has in the correct division tasks and in their integration work group and departments.

In many financial institution the particular organization from chosen in largely a result of tradition and personal interests of the top management.


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