Information, Communication and Technology Adoption and Performance of County Pension Fund Financial Services Limited in Kenya

Abstract

Advancement in the information, communication and technology (ICT) has changed the way organizations manage their business activities. This study examined the effect of ICT adoption and performance of County Pension Fund Financial Services Limited in Kenya. In particule, the study sought to provide answers to the question: How does adoption of ICT affect performance? The findings from this study is expected to help in understanding how ICT contributes to performance across firms and also increases literature for future researchers who seeks to study association between information communication and technology and firm performances. The study utilized resource based theory, technological acceptance model (TAM) and institutional theory in explaining how ICT adoption affects firm performance. A descriptive research design was used and with an estimated target population of 250, the study adopted purposive sampling and used sampling determination table by Krejcie and Morgan (1970) to select a sample of 152 respondents. The data collection tools in this study were questionnaires and interview schedules and collected both quantitative and qualitative data. The findings are presented in frequency tables, pie charts and graphs. The study achieved a response rate of 85% making the data adequate for analysis. Results from the study show that CPF mostly used ICT tools in its operational and overall office activities to enhance performance. Specifically, the organization used internet for financial services, access information and forms; it had increased its hardware but the adoption of ICT by CPF were reported to faced challenges – changing roles and norms in the ICT field, data security and the cost of implementing ICT was reported to be high. The study recommends that CPF should consider giving more training to employees considering change that takes place in the ICT field. Furthermore, there is need to regularly update the security systems and also conduct awareness among employees for them to understand the limitations to those who access important ICT systems such as servers or passwords.