Strategic value of automation at the Nairobi stock exchange
Automated power industries not only focus on production efficiency but also strive to strike a balance between production and consumption. Automation boosts individual and team efficiency, which enables organizations to deliver results faster and with greater predictability; better decision making. Automation at the NSE took place in 2006 when the live trading on the automated trading systems of the Nairobi Stock Exchange was implemented which brought about increased trading hours (12 hours a day) at the NSE. The objective of this study was to determine the strategic value of automation at the Nairobi Stock Exchange. The study adopted a case study design seince the unit of analysis is one organization. The respondents comprised of senior managers at NSE. The data obtained from the interviewguides was analyzed using qualitative analysis and then presented in prose format. The study conludes that the progress was good especially considering the fact that new system was more that 95% operational. All departments were now operating from the system and the progress was generally good. The study also concludes that automation strategy affected the turnaround time as it made it easy for staff to retrieve, share and use information online from any computer connected to the network. The study also conludes that NSE faced several challenges in implementing automation strategy.These included inadequate resources to finance the implementation of the automation strategy; Inadequate office equipment including servers with huge capacity hampered the implementation process of automation strategy at NSE; high resistance from were meant to the implementing agents; and limited training on the new Automated Trading System software system. the study recommends that in order for NSE to realize full potential of automation,it needs to create awareness among the public especially on the benefits of automation to the convenience and efficiency on their operations especially in the bond market to boost bond market activities. The study further recommends that in order to continue enjoying the advantages of automation, NSE need to be the look out for the developments.In formation technology is evolving very fast and the advantages will only accrue to those firms that keep pace with thase developments.