Enhancing Financial Operations: Digital vs. Traditional Systems at Care Cove Company Limited, Tanzania

Abstract

Organizational conflicts always happen when the management members face the dilemma of making crucial decisions with a direct impact on the company's performance. Despite having a well-performing brand name in the market, Care Cove's Financial Performance faces several difficulties which demand the company change its mode of financial operations.   The decision to shift to a digital financial management system divided the board members as some of them preferred staying in the traditional financial management system. Each business decision comes with its risks, and delaying making a business decision harms the business's growth and sustainability. Therefore, this paper provides business solutions on how the company can handle the dilemma among the management members and how the transformation from a traditional to a digital financial management system can be made smoothly. The case was guided by the theory of the Technological Acceptance Model which indicates the criteria guiding the acceptance of the new technology. The case utilized the decision case design which allows the study to evaluate the opinions of the antagonists and protagonists involved in the case before deciding on the business solutions   The case employed the sample of 2 respondents from the population of 13 employees of Care Cove Company Limited who were obtained through purposive sampling, data were collected through interviews, observation and documentation. The scholar employed content and narration analysis techniques to present and analyse the opinions of the respondents who participated in the study.  After the critical evaluation of the opinions from both the antagonist and the protagonist sides the case has discovered that for the best of the company, the management should transform to the digital platform financial management systems but not in full. Some of the financial operations which are not affecting the profitability of the company can be kept traditional until the other revenues and financial operations have been fully digitalized.  To effectively implement the transition process without damaging the company's competitive advantages, the case proposes conducting a need assessment and defining the objectives of shifting to a digital financial management system as well as evaluating the technological environments and the market of digital systems.