Business Model Transformation and Business Process Reengineering in Information Technology Companies in Nigeria

Purpose: This study examined the relationship between business model transformation and business process reengineering of information technology companies in Nigeria. Methodology: The study adopted a cross-sectional research survey. The population of the study was the 4 major information technology companies that met the capitalization base condition as listed in Nigeria Stock Exchange. Questionnaire was the major instrument for data collection and the pilot survey was distributed to 50 respondents to help ascertain the possible response outcome on the long run if the entire respondents are examined. A Cronbach alpha of 0.7 was used to determine the level of reliability of the research instrument. The hypotheses were tested using the Spearman Rank Order Correlation Coefficient with the aid of Statistical Package for Social Sciences version 23.0. Results The findings revealed that there is a significant relationship between business model transformation and business process reengineering of information technology companies in Nigeria. The study specifically found that there is a significant relationship between business model transformation and process formation in information technology companies in Nigeria. Also, the study found that there is a significant relationship between business model transformation and enhanced capabilities in information technology companies in Nigeria. Finally, the study found that that there is a significant relationship between business model transformation and efficiency improvements in information technology companies in Nigeria. Based on the study findings, the researchers conclude that domain transformation significantly relate with business process reengineering in information technology companies in Nigeria. Unique contribution: The study recommends that preference to expertise can be emphasized through the acknowledgement and appreciation of skill and creativity within the workplace in a manner that recognizes and encourages knowledge development and skill upgrades within the organization, thereby driving competence in the workforce of the organization.