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Innovation in Financial Management: Opportunities and Challenges in Improving Organizational Performance Hasanudin Hasanudin
Jurnal Stagflasi : Ekonomi, Manajemen dan Akuntansi Vol. 2 No. 01 (2024): Jurnal Stagflasi : Ekonomi, Manajemen dan Akuntansi, Edition April 2024
Publisher : Sean Institute

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Abstract

This research explores innovation in financial management as an effort to improve organizational performance. In the context of increasingly tight business competition, innovation is not only applied to products or services, but also in management systems and processes, including financial management. This research aims to identify the opportunities and challenges offered by financial innovation, such as financial technology (fintech), big data analytics and business process automation. This research uses a qualitative approach with descriptive methods. The research results show that innovation in financial management can have a positive impact on organizational performance. The integration of financial technology, the use of big data, and the automation of financial processes effectively improve operational efficiency, enable more timely decision making based on data, and optimize the use of resources. Although challenges such as initial investment costs and employee resistance to change may arise, effective communication and proper training can overcome these obstacles, ensuring successful adoption of the innovation. Thus, research confirms the importance of integrating innovation in financial management as a strategy to improve organizational performance and competitiveness in an ever-changing business environment.
Optimizing The Implementation Of Enterprise Resource Planning (ERP) In Company Financial Management Hasanudin Hasanudin
Jurnal Ekonomi, Akuntasi dan manajemen Indonesia (JEAMI) Vol. 2 No. 02 (2024): Jurnal Ekonomi, Akuntasi dan Manajemen Indonesia (JEAMI), Mei 2024
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58471/jeami.v2i02.555

Abstract

This research aims to optimize the application of the Enterprise Resource Planning (ERP) system in managing company finances. ERP is an integrated system that supports various business functions, including finance, by providing consistent and real-time data. This research uses a qualitative approach with descriptive methods. The research results show that ERP implementation requires thorough planning, active participation from stakeholders, effective training strategies, and monitoring the impact on post-implementation financial processes to ensure long-term success and optimal return on investment for the company. By implementing an ERP system in company financial management, it was found that this integration brings a number of significant benefits. It is proven that ERP simplifies financial processes, increases operational efficiency, and increases the accuracy of financial information by providing real-time access. In addition, ERP systems also provide benefits in terms of regulatory compliance and risk management, by enabling companies to proactively identify and manage financial risks.