IDEAS home Printed from https://ideas.repec.org/a/dug/jaccma/y2024i1p21-38.html
   My bibliography  Save this article

Effects of Enterprise Resource Planning (ERP) on the Financial Performance of Funeral Companies

Author

Listed:
  • Newman Wadesango

    (University of Limpopo)

  • Clarence K. Karaga

    (Midlands State University)

  • Sitsha Lovemore

    (Midlands State University)

Abstract

The research sought to determine the effects of enterprise resource planning (ERP) on the financial performance of WADE Funeral Services. Furthermore, those charged with the governance of WADE Funeral Company averred that the rampant changes in the digital environment with the introduction of Artificial intelligence, (AI), internet of things (IOT) and crypto services such as block chains is compromising the effectiveness of ERPs. The entity has been facing financial woes as it strives to keep pace with system upgrade costs, system updates, system maintenance and training costs. The financial performance of the entity has reached a milestone between the past 3 successive years from 2020 to 2022 as far as decreasing financial trajectories are concerned. The study adopted a mixed research approach. Data were collected using questionnaires and interviews. The study targeted 73 participants working at WADE Funeral Company’s head offices. It emerged that Adopting ERP affects the financial performance of WADE Funeral Company. Enterprise resource planning helps to corroborate resources and effectively optimize data management thereby improving the performance of corporate entities. WADE Funeral Company does not have the requisite technological infrastructure so embracing ERP can expose these firms to marginal costs. ERP help in streamlining administration and automating resource management, through ERP help to enhance efficiency and effectiveness. WADE Funeral Company is struggling to embrace and harness proceeds of ERP software due to political interference, economic oscillations, legal regulations, technological dynamism, illiteracy levels and poor management and leadership styles. There is a raft of factors which affects the implementation of ERPs in funeral services companies, and these can be internal or external factors.

Suggested Citation

  • Newman Wadesango & Clarence K. Karaga & Sitsha Lovemore, 2024. "Effects of Enterprise Resource Planning (ERP) on the Financial Performance of Funeral Companies," The Journal of Accounting and Management, Danubius University of Galati, issue 1(14), pages 21-38, April.
    • Handle: RePEc:dug:jaccma:y:2024:i:1:p:21-38
    as

    Download full text from publisher

    File URL: https://dj.univ-danubius.ro/index.php/JAM/article/view/2765/2812
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:dug:jaccma:y:2024:i:1:p:21-38. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Florian Nuta (email available below). General contact details of provider: https://edirc.repec.org/data/fedanro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.