Abstract
The adoption of data-driven financial management systems has become increasingly vital for the growth and sustainability of small and medium-sized enterprises (SMEs). This review explores the implementation of such systems through a case review approach, analyzing their impact on financial decision-making, operational efficiency, and overall business performance. SMEs often face challenges in managing their financial processes due to limited resources, inefficient manual methods, and a lack of real-time data insights. Data-driven financial systems, leveraging automation, artificial intelligence (AI), and analytics, offer a solution by streamlining these processes, enhancing accuracy, and improving decision-making. The review examines three SMEs from different sectors manufacturing, retail, and services that have implemented data-driven financial systems. Through qualitative interviews, financial data analysis, and performance assessments before and after system implementation, the research identifies key improvements in cash flow management, profitability, and financial reporting. Each case highlights how automation and real-time data access have led to more strategic financial decisions, reduced costs, and operational efficiency. The findings suggest that data-driven financial systems not only increase financial transparency but also provide a competitive advantage by enabling SMEs to make informed decisions quickly. However, the review also identifies barriers to implementation, such as technical expertise, costs, and employee training, emphasizing the need for tailored solutions based on company size and sector. The review concludes by discussing future trends in financial technology adoption among SMEs and offers recommendations for facilitating successful integration. This research contributes to the understanding of how data-driven financial management can drive sustainable growth in SMEs. Keywords: Data-Driven, Financial Management, SMEs, Review.
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