Financial Management System Research Articles

Effectiveness of Using Village Financial Management System in Minahasa Regency

The implementation of Law Number 6 of 2014 concerning Villages and its implementing regulations has mandated village governments to be more independent in managing government and various natural resources owned, including the management of village finances and assets. In terms of village finances, village governments are required to prepare reports on the realization of implementation and accountability reports on the realization of the implementation of the village revenue and expenditure budget. The Village Financial System Application (SISKEUDES) is designed in an integrated manner using simple and user-friendly features so that users can easily operate it. The Siskeudes application aims to ensure that village financial management, especially those sourced from village funds, can be managed cleanly and transparently. However, various problems have arisen along with the changes in the instrument. Problems with the quality of human resources, facilities and infrastructure, and policies that are not well understood by implementers in the field. The purpose of this study was to analyze the Effectiveness of Using the Village Financial Management System (SISKEUDES) in Rumbia Village and Kaayuran Bawah Village, South Langowan District, Telap Village, Eris District, Lolah Village and West Lemoh Village, Tombariri District, Minahasa Regency. This study uses a qualitative research method. Data sources are obtained from primary data, namely interviews and secondary data, namely supporting data in the field such as literature and documents. The results of the study indicate that the effectiveness of the use of the Siskeudes application in Minahasa Regency, reviewed from the Structural Aspect, appears to be running effectively, Reviewed from the Process Aspect. The effectiveness of the use of the Siskeudes application in Minahasa Regency is not balanced between villages, some villages experience a good and smooth process and From the Result Aspect, it can be seen that the Siskeudes application is very helpful for villages to manage village finances whose value is considered very large.

Evaluating the implementation of the National Primary Health Care Development Agency (NPHCDA) gateway for the Basic Healthcare Provision Fund (BHCPF) across six Northern states in Nigeria.

This evaluation research utilized both qualitative and quantitative methods to assess the implementation of the National Primary Health Care Development Agency (NPHCDA) gateway of the Basic Health Care Provision Fund (BHCPF) across six states in Northern Nigeria: Bauchi, Borno, Kaduna, Kano, Sokoto, and Yobe. This was a mixed-method research that utilized longitudinal surveys and Key informant interviews to gather information about the implementation status of the BHCPF-NPHCDA gateway. Checklists were developed based on the BHCPF's national guidelines to gather quantitative data, while simple open-ended questionnaires were used to collect qualitative data from the state BHCPF Program Implementation Unit (PIU) focal persons as key informants. The result revealed that the NPHCDA had accredited these six states to use one Primary Health Care (PHC) facility in each political ward to implement the BHCPF. Factors that contributed to the success achieved in some states included the early completion of contingent start-up activities, well-established coordination structures, strong support from partners, and the availability of established financial management systems. However, the delays in the submission of quarterly business plans by the BHCPF facilities affected timely approval and fund disbursement. Other challenges included staff capacity gaps, inadequate human resources, and poor management and supervision from the state health agency teams. There was suboptimal implementation of the BHCPF in at least one thematic area across all states. Therefore, actions such as government commitment for improved coordination, continuous capacity building, effective monitoring and evaluation, and targeted supportive supervision using innovative approaches should be undertaken to improve the program's implementation. In a broader setting, the insights from BHCPF implementation are valuable for LMICs, offering guidance on overcoming implementation challenges associated with PHC financing. This research provides a resource for enhancing healthcare financing strategies in similar contexts.

Artificial Intelligence in SAP S/4HANA: Transforming Enterprise Resource Planning through Intelligent Automation

This comprehensive article investigates the transformative impact of AI-enhanced SAP S/4HANA Finance across healthcare, manufacturing, scientific research, auto, food & Oil &Gas sectors, focusing on human-AI collaboration patterns and implementation outcomes. Through a mixed-methods approach analyzing 15 organizations over 18 months, the research examines how AI integration transforms traditional ERP functionalities into intelligent financial management systems. The article collected data from 450 end-users and 45 key stakeholders, employing both quantitative metrics and qualitative assessments to evaluate implementation patterns, challenges, and success factors. The findings reveal significant improvements across all sectors: healthcare organizations achieved 40% reduction in billing processing time and 15% improvement in collection rates; manufacturing entities realized 35% reduction in unplanned downtime and 22% decrease in working capital requirements; while research institutions demonstrated 45% faster grant processing and 35% improved budget forecasting accuracy. The article introduces the Adaptive Financial Intelligence Framework (AFIF) for conceptualizing human-AI collaboration in financial management, contributing to both theoretical understanding and practical implementation strategies. The article concludes that successful AI integration depends on industry-specific adaptations, comprehensive training programs, and robust governance frameworks while highlighting the critical role of human expertise in maximizing system benefits. These findings provide valuable insights for organizations pursuing AI-enhanced financial management solutions while offering a roadmap for future developments in human-AI collaboration within enterprise systems.

Analysis of Current Management Strategies on Business Operations of Two State Enterprises

The study sought to establish how effective were the business management strategies currently being used by two state enterprises in the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development namely, the Grain Marketing Board (GMB) and the Zimbabwe National Water Authority (ZINWA). The study was prompted by the negative media reports and the complaints from key stakeholders about the operations of these institutions. The main theory underpinning the study was the Resource-Based Entrepreneurship theory (RBET) by Hussain et al. (2019) complimented by the organisation theory (Oyibo and Gabriel, 2020). The pragmatism philosophy was applied to ensure that both quantitative and qualitative aspects of study were accommodated. The study used the mixed methods paradigm and the explanatory sequential design. The target population was made up of 97 managers from both the GMB and the ZINWA, as well as government officials from the parent ministry from which a sample of 46 respondents was used to obtain quantitative data responses. A self -administered structured questionnaire and semi-structured interview guide were used. The major findings were that the two parastatals had several strategies which if fully utilised could improve their operations such as outsourcing some non-key services, holding of regular meetings to get updates on the economic activities which might impact on the entities and working with reputable partners to build business growth. The major recommended strategies are that both parastatals should conduct research to facilitate innovation and development, creating and enforcing prudent and transparent financial management systems, adoption of sound corporate governance framework (practices), as well as carrying out organisational restructuring, nurturing appropriate organisational culture and having effective performance management systems.

Pengendalian Intern Manajemen Keuangan pada Perusahaan Kontraktor

This research aims to determine and analyze the project financial management system at CV. Diana Concern. The method used is descriptive qualitative with the type of research being a case study. The data collection technique uses a triangulation process which is carried out by conducting interviews, observation and documentation. The research results show that CV. Diana Concern, which is the object of this research, carries out financial management system activities, especially in project operations, not yet fully using financial system procedures which are the basis for internal control, so it requires improvements to the existing financial system. Where all financial activities are completely handed over to representatives from the subcontractors in each project. Transaction activities that are not recorded on time by ignoring forms or documents accompanying the transaction, as well as implementation orders that are not professionally organized, can cause financial reporting to be inaccurate, not timely and accountable

Evaluating village financial governance in top tourism destinations

Village fund management is important for village economy and welfare. Village funds in Gresik Regency, Indonesia In particular, for the 2022 period, the revenue budget is IDR. 2,355,638,000 in Pangkahkulon village, while Rp. 9,865,701,000 for Sekapuk village, demonstrating the principles of accountability and transparency for effective and sustainable development. Accountability and transparency in village fund management ensure clear financial reporting, community participation, and openness of information, despite still facing obstacles such as lack of resources and regulations. Lack of community participation reduces accountability, transparency in achieving good financial governance in 3 villages in Gresik Regency. This study proposes to assess the impact of financial governance in Sekapuk, Pangkahkulon, and Sidokumpul Villages, focusing on accountability, transparency, and community participation. Despite progress, challenges including resource constraints and regulatory changes remain. This study provides in-depth insights into the effectiveness of village financial management systems, emphasizing the importance of community participation in improving accountability and transparency and building public trust. This study explores the implementation of good financial governance in three Gresik villages, focusing on accountability, transparency, and community participation. The study design uses a phenomenological approach to understand perceptions related to transparency and accountability in village fund management in Gresik Tourism Villages through interviews and observations. Primary data were collected from village officials, and analysis was conducted using NVivo 12 Plus, prioritizing transparency and community participation. This study found that accountability in Gresik Tourism Villages requires a transparent and efficient financial system. The SISKEUDES application experienced technical problems that affected reporting, so technical improvements and staff training were needed. Transparency and community participation in meetings and discussion forums are key to increasing trust and effectiveness in village fund management. Thus, in achieving Good Financial Governance in Gresik Tourism Villages, a financial system that is accountable, transparent, and involves community participation is needed. Information technology, regular training, and supervision with NGOs are important for efficiency and transparency, and discussion forums strengthen community trust.

The Efficiency of Virtual Financial Data Management System in Increasing Tax Collection: A Cross-sectional Study of Traders in Tanzania

Globally, several countries have been working to enhance the efficiency of tax collection. Various mechanisms, such as the Virtual Financial Data Management System (VFDMS), have been adopted to improve tax collection. This study aimed to assess the efficiency of Virtual financial data management system in increasing tax collection. The study used a cross-sectional survey design. The sample size was 334 traders who had used Virtual financial data management systems. This study used simple random sampling technique to collect data from traders. The questionnaire was used as the main data collection instrument. Data analysis was performed using SPSS version 20. Descriptive statistics using frequencies and percentages were performed, with the information presented in tables. The study results found that VFDMS performs with efficiency thereby increase tax collection. The findings show that more than half of the respondents (56.9%) strongly agreed that the VFDM system does not have any problems performing each transaction. The majority of the study participants (57.8%) strongly agreed that the level of efficiency increases during the day, while most of the respondents (44.9%) agreed that VFDM performance in the field is efficient and predictable. Additionally, nearly half (49.7%) of the respondents agreed that VFDMS stores all information accurately. The study suggests that government through Tanzania revenue authority (TRA) to enhance the efficiency of the VFDM system, further improve tax collection, and ensure that stakeholders feel confident in its use.

The impact of female board membership and firm performance on the environmental management system

This paper examines the effect of gender diversity on the Environmental Management Systems (EMS) measured as ISO 14001 adoption among Saudi-listed companies. In this study, we propose that female board members significantly influence EMS adoption by employing agency theory, stakeholder theory and resource dependency theory to predict the relationship. The final sample of this study consists of 44 firm-year observations for non-financial companies listed on the Saudi Stock Exchange with ISO 14001 certification from 2016 to 2019. The logistic regression results show that higher representation of women on boards is associated with more extensive use of EMS indicating the importance of gender diversity in enhancing corporate environmental responsibility. Moreover, companies with better financial performance are less likely to adopt comprehensive ecological management practices. This paper contributes to the existing body of knowledge by revealing how board diversity is related to financial performance and environment management systems among firms operating in emerging markets. These findings have policy implications for policymakers, business leaders and researchers engaged in sustainable development initiatives to enhance governance mechanisms.

ANALISIS SISTEM PENGELOLAAN KEUANGAN DANA DESA NAGORI MARIHAT BARIS KECAMATAN SIANTAR KABUPATEN SIMALUNGUN

This research aims to determine the financial management system for Nagori Marihat Baris village funds, Siantar District, Simalunggun Regency. Meanwhile, data collection was carried out using interviews and documentation. The population in this research is the budget report and realization of Nagori Marihat Baris village funds from 1975-2023. The sample in this research is the budget report and realization of village funds in 2021-2022 with all village officials and the Nagori Marihat Baris community. The method in this research uses a qualitative descriptive method.The results of this research show that the financial management system for Nagori Marihat Baris village funds uses the Siskuedes application system which makes it easier to operate in conveying activities and programs for the activities carried out, however there are several stages of financial management of village funds in Permendagri No. 20 of 2018 that are still not appropriate based on financial management system, among others: 1). Related planning is the design mechanism for village fund management planning, minimizing wasted costs, integrating policies or opinions, principles and technical preparation.2). The related implementation is revenue and expenditure, making a budget plan for activity costs and carrying out activities, being responsible for the implementation of activities. 3). Related administration is managing village finances, recording every incoming and outgoing budget and closing the cost budget book. 4). Related reporting is submitting implementation realization reports to superiors, knowing the progress of implementing activities and transparency. 5). The related accountability is submitting a realization accountability report and an accountability report submitted no later than 3 months after the end of the relevant budget year as determined by village regulations.

Financial flow management of trading companies based on business process modeling

The issues of process approach implementation in enterprise financial flows management system have been highlighted. The stages of financial flows management within the framework of business processes model have been defined. The advantages of the balanced scorecard have been revealed. The approach to financial flows management based on business process models and their optimization methods has been proposed. The approach to enterprise process management is based on the Deming-Shewhart cycle. The strategic map has been considered as tools for process management and metrics control. The composition of balanced scorecard has been proposed, reflecting the dependence of profit, accounts receivable, and equity turnover rate on the key indicators of cost, fragmentation. and time of fulfilling tasks of the AS-IS and TO-BE business process models. The cause-and-effect relationships between the business processes tasks and a company’s financial performance have been considered. The paper presents the results of the analysis and visualization of the dynamics of change in indicators depending on business process model transformation. In order to reduce risks and increase the efficiency of implementing process optimization results, a number of simulation experiments have been conducted for a company actively developing online sales channels. Practical recommendations have been developed and changes in the key business process management system justified. The system effect from simulation modeling results implementation has been obtained.

Non-Cash Systems Improving Transparency in Village Financial Management

The specific background of this study revolves around the implementation of a non-cash transaction program in Randegan Village in collaboration with BPR Delta Artha to enhance financial management through SISKEUDES. A knowledge gap exists in understanding the effectiveness of non-cash systems in improving transparency and accountability in village financial management. This research aims to describe and analyze the implementation of the non-cash system within the SISKEUDES application in Randegan Village, Sidoarjo Regency. Utilizing a qualitative, descriptive approach, data collection involved interviews, observation, and documentation. The results indicate that vertical and horizontal communication is effective, facilities for operating SISKEUDES and non-cash applications are adequate, employee disposition toward policy implementation is positive, and bureaucratic cooperation is strong. The novelty of this study lies in its exploration of the interplay between communication, resource management, and bureaucratic structure in implementing a non-cash system for village financial management. The implications suggest that effective implementation of non-cash systems in village financial management can enhance transparency, accountability, and overall governance. Highlights: Effective Communication: Ensures smooth implementation of the non-cash system. Adequate Resources: Proper facilities and skilled staff support SISKEUDES' operation. Strong Bureaucratic Cooperation: Enhances the efficiency and transparency of financial management. Keywords: Non-Cash System, SISKEUDES, Village Finance, Management, Transparency

Village Financial Management in Accordance with Minister of Home Affairs Regulation No. 20 of 2018

General background effective village financial management is crucial in Indonesia, especially in light of increasing government regulations aimed at improving transparency and accountability. Specific background this study focuses on the implementation of Minister of Home Affairs Regulation No. 20 of 2018, which outlines mandatory processes for village financial management. Knowledge gap despite the existence of this regulation, there is a lack of comprehensive understanding regarding its practical application across different villages. Aims this research to investigate the planning, implementation, administration, reporting, and accountability of village funds in accordance with the regulation. Results findings reveal that the village's financial management processes comply with the regulation, demonstrating adherence to the required stages of management. Novelty the study provides a unique contribution by offering an in-depth analysis of village fund management within the context of regulatory compliance, highlighting both challenges and best practices. Implications the results emphasize the need for continued training and resources for village officials to ensure adherence to regulations and improve the effectiveness of village financial management systems. Highlights: Compliance with Minister of Home Affairs Regulation No. 20 of 2018 is essential for effective fund management. Involvement of the community in the planning process fosters transparency and accountability. Comprehensive training for village officials is necessary to enhance financial management practices. Keywords: Finance, Village, Participation, Planning, Transparency

Implementing data-driven financial management systems in SMEs: A case review approach

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.

Enhancing Village Management and Governance Through Mobile Learning Initiatives

The Institute for Rural Advancement (INFRA), under the Ministry of Rural and Regional Development (KKDW), conducted a comprehensive outcome assessment of its mobile learning programme. This evaluation aligned with the TVET principle of practical, hands-on training, emphasizing real-world applications crucial for rural management. The study aimed to assess the programme's impact on enhancing participants' skills and knowledge in village management, including governance, financial management, and file system management. Quantitative survey was used to collect data from 219 trained participants. The results showed significant improvements in village management practices, with high effectiveness ratings across all dimensions. File management skills, demonstrated a strong acceptance of organized filing systems and improved administrative capacity. The findings also revealed notable improvements in village leadership, attributed to the programme's focus on community engagement and practical field experiences. By aligning its mobile learning programme with TVET's practical training pillar, INFRA has established itself as a leader in integrating TVET principles into rural management. This research offers valuable insights for policymakers and practitioners in designing effective rural development initiatives and enhancing village governance through targeted mobile learning programmes.

Intelligent Financial Management Systems Innovations and Applications in the Digital Era

With the advancement of digital transformation, intelligent financial management systems have played a significant role in improving the efficiency, accuracy, and decision-making capabilities of corporate financial management. This study explores the performance and impact of three intelligent financial management systems — Digital Processing Methods and Financial Reimbursement Document System (System A), Industrial Digitalization Industry Enterprise Growth Evaluation System (System B), and Cloud-based Intelligent Financial Management Tools (System C) — in practical applications through case study methods. The results show that these systems have significantly improved the efficiency and accuracy of financial management, enhanced decision-making capabilities, and reduced operational costs through automated processes, data mining, and machine learning techniques. The study also points out challenges in the implementation process, such as data quality, user acceptance, and system integration issues, and predicts future development trends. Finally, the paper discusses the limitations of the research and proposes directions for future research.

Establishing a System of Financial Management and Control in the Republic of Srpska Public Sector

Establishing a System of Financial Management and Control in the Republic of Srpska Public Sector

FINANCIAL MANAGEMENT PRACTICES ON GROWTH OF BUSINESS ENTERPRISES IN MBINGA DISTRICT, TANZANIA

A robust financial management system forms the foundation for business growth and long-term survival. However, there is limited information on the financial management practices that contribute to business growth in the Mbinga district. This study examined financial management and working capital management practices. A semi quasi-experimental research design was employed, utilizing questionnaires distributed to a sample of 62 business owners. Descriptive statistics were analyzed using the SPSS package. The results indicated that 41.9% of business enterprises employed working capital management practices, while 24% used capital structure management practices. Financial management practices were found to enhance management efficiency with a mean score of 3.74, increase the availability of capital with a mean score of 3.61, and improve operational margins with a mean score of 3.56. The study concluded that financial management practices are crucial for business growth and recommended their implementation. The study also found that capital structure management practices were applied to a lesser extent, although businesses showed an understanding of balancing debt and equity for financial sustainability. These findings suggest that the effective implementation of financial management practices is crucial for the growth and performance of businesses in the district. The study concludes that the integration of sound financial management practices contributes to better financial decision-making, risk mitigation, and resource optimization, leading to business expansion and sustainability. From a policy perspective, the study recommends that regulators and stakeholders encourage firms to leverage debt financing due to its associated tax benefits and advantages for financial sustainability. Theoretically, the findings underscore the relevance of agency theory in understanding the dynamics between managers and shareholders, and the principle of optimal capital structure in maximizing firm value. These insights provide a foundation for future research and practical interventions aimed at improving financial management practices in similar contexts.

Development Strategy School Financial Resilience in Yogyakarta Private High School

The success of educational institutions in providing quality services is influenced by various factors, including planning, facilities, human resources, and financial support. This research focuses on school financial management, emphasizing the importance of financial resilience to support operational resilience and sustainability, especially in private schools with limited funds. Financial resilience is the capacity of an institution to survive and adapt to financial challenges, which includes effective and efficient management of income and expenditure. This research uses qualitative methods with a descriptive approach to explore strategies for developing financial resilience at SMA Muhammadiyah 1 Yogyakarta. Data was collected through observation, semi-structured interviews, and document study, and analyzed using triangulation techniques to ensure the validity of the information. The main focus of research is on absorptive, adaptive and transformative strategies in school financial management. Absorptive strategies emphasize the importance of effective budget planning and evaluation. Adaptive strategies include the use of financial information systems and the involvement of external parties. Transformative strategies involve student service innovation, awards, and seeking additional funding Research findings show that SMA Muhammadiyah 1 Yogyakarta has succeeded in overcoming financial challenges through good management and implementing innovative strategies. This research recommends regular evaluation of financial management systems, staff training, and collaboration with other educational institutions to improve financial management strategies. It is hoped that further research can contribute to the development of policies and best practices in educational financial management.

A critical review of domestic and foreign methodological aspects of financial strategies formation using a matrix method in modern realities

Subject. The article discusses financial strategies in the corporate finance management system based on a matrix approach. Objectives. The purpose is, after the analysis of existing financial models in economics that are based on the matrix approach, to identify positive and negative sides of each toolkit, while offering criteria for their comparison, formulated on regional, sectoral, and behavioral aspects. Methods. The study employs theoretical (analysis, synthesis, modeling, systematization) and empirical (comparison, classification by characteristics, mathematization) methods of scientific research. Results. I analyzed economic scientific literature concerning domestic and foreign methods of corporate finance management, defined the terms "financial model" and "financial matrix", compared domestic and foreign instruments, developed criteria for evaluating the existing techniques. The criteria enabled to reveal advantages and disadvantages of the matrix strategies mentioned above. Conclusions. A specific feature of domestic matrix methods is diversification. Moreover, almost all existing financial models are marked by universality: industry differences are ignored. However, each methodological toolkit has its "pros" and "cons", various indicators and financial strategies. At present, there is a need to form a new methodological technique based on the matrix approach. This toolkit can be presented in the form of a financial model characterized by precision and optimality, and would also consider such parameters as industry and regional specifics.

Software architecture for implementing a personal budget manager with artificial intelligence

The rapid adoption of artificial intelligence (AI) in consumer markets has led to the need for extensive research into its impact on consumer behavior, particularly in how it exploits cognitive biases. This raises ethical questions and highlights the need to balance such influences with AI systems that help consumers, not manipulate them. The development and implementation of an intelligent financial management system, which not only automates financial processes, but also integrates AI-driven tools to support better financial decision-making, contributes to solving these problems. The work contains a description of the development of the architecture of an intelligent financial management system, which is aimed at solving problems related to financial illiteracy, the complexity of financial markets, and the impact of cognitive biases on financial decision-making. The system provides for the use of modern technologies of artificial intelligence and machine learning to automate financial processes and provide users with personalized recommendations. The development of a system based on microservice architecture requires the use of certain architectural patterns that ensure efficiency, reliability and scalability, so the work was based on a critical analysis of modern architectural paradigms, such as microservice architecture and Event-Driven Architecture. The implementation of AI supports ethical guidelines that prioritize transparency, fairness and consumer autonomy, i.e. ensure that the AI ​​system is free from bias, actions can be easily interpreted by users. The methodology of this research is based on an interdisciplinary approach that combines the analysis of architectural solutions, methods of machine learning and artificial intelligence with methods of ensuring the reliability and scalability of software systems.