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All Journal Greenation Computer and Information Review (GCIR)
Muhammad Iqbal Ismail
Department of Management, Universitas Pamulang, South Tangerang, Indonesia

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Information Systems Capability, Market Expansion, and Profitability in Indonesian State-Owned Pharmaceutical Cases: The Proposed Mediating Role of Sales Growth Melinne Maldini Rosady; Muhammad Iqbal Ismail
Greenation Computer and Information Review Vol. 2 No. 1 (2025): Greenation Computer and Information Review (October 2025 - March 2026)
Publisher : Greenation Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/gcir.v2i1.863

Abstract

The link between information systems, market expansion and profitability is often described through sales growth, but annual reports rarely provide the measures needed to identify that mechanism. This study examines the evidential status of the proposed pathway in Kimia Farma and Phapros using a longitudinal documentary comparison of public reports for 2021–2025. Technology and market access narratives are read alongside revenue and the latest comparable financial figures. Phapros’ 2025 revenue increased by 26.34 percent and its net margin returned to positive territory. Kimia Farma’s revenue decreased by 7.20 percent while its net loss margin improved. The contrasting patterns show that revenue growth is neither a necessary description of margin recovery nor sufficient evidence of a mediated effect. Reported enterprise systems, electronic commerce and distribution arrangements suggest plausible operational links, but deployment, customer conversion and causal timing remain unobserved. The study contributes an identification audit that distinguishes a theoretically plausible pathway from a tested mediation claim. It identifies the operational and longitudinal evidence required for subsequent empirical testing.
Information Technology Investment Disclosure, Marketing Efficiency, and Financial Sustainability in Indonesian State-Owned Pharmaceutical Cases Maya Sova; Muhammad Iqbal Ismail
Greenation Computer and Information Review Vol. 2 No. 1 (2025): Greenation Computer and Information Review (October 2025 - March 2026)
Publisher : Greenation Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/gcir.v2i1.864

Abstract

Financial sustainability depends on liquidity and cash generation as well as reported profit, yet technology narratives often omit comparable expenditure and operational return measures. This study examines technology investment disclosure, selling cost efficiency and financial sustainability in Kimia Farma and Phapros through a documentary longitudinal comparison. Public reports provide historical context for 2021–2025 and detailed financial comparisons for 2024–2025. Neither case supplies a consistent, separately identified technology investment series suitable for estimating an investment return. Kimia Farma’s current ratio rises from 0.48 to 0.56 and its operating cash flow margin improves, but its net result remains negative. Phapros’ current ratio rises from 0.95 to 2.29, while operating cash flow decreases despite a revenue rebound and a return to profit. Both selling expense ratios decline, but their compositions and revenue denominators differ. The contribution is a multidimensional reconciliation of commercial cost burden, liquidity and cash generation, with undisclosed technology spending retained as missing. The results show that recovery in one indicator does not establish a general digital investment effect or durable financial sustainability.
Digital Transformation Disclosure, Marketing Intensity, and Financial Performance: Evidence from Indonesian State-Owned Pharmaceutical Cases Denies Susanto; Muhammad Iqbal Ismail
Greenation Computer and Information Review Vol. 2 No. 1 (2025): Greenation Computer and Information Review (October 2025 - March 2026)
Publisher : Greenation Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/gcir.v2i1.865

Abstract

Corporate reports increasingly connect digital transformation with commercial and financial improvement, although disclosed initiatives do not establish their economic contribution. This study examines digital transformation disclosure, selling expense intensity and financial performance in two nested Indonesian state owned pharmaceutical cases. A longitudinal documentary comparison uses public reports covering 2021–2025, with financial comparisons concentrated on the latest comparable figures for 2023–2025. In 2025, Kimia Farma’s selling expense ratio fell from 22.80 to 19.67 percent and its net loss margin narrowed from 12.16 to 4.81 percent despite declining revenue. Phapros’ ratio fell from 49.83 to 30.74 percent, while revenue recovered and its net margin became positive. Both reports describe digital initiatives, but neither provides attribution sufficient to link those initiatives to the financial changes. An exact decomposition shows that lower expenditure and changing revenue denominators contributed differently to the two expense ratios. The contribution is a reproducible distinction between disclosed transformation, selling cost intensity and realised financial outcomes. The findings support a cautious interpretation of annual report based digital measures rather than a causal performance claim.
Co-Authors Denies Susanto Maya Sova Melinne Maldini Rosady