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Improving the Digital-Based Financial Management Capacity of MSMEs to Enhance Community Economic Competitiveness Luther Hasan Lase1; Ristanto; Bambang Mardi Sentosa
Inovasi Sosial : Jurnal Pengabdian Kepada Masyarakat Vol. 3 No. 3 (2025): In Press
Publisher : LPPM Akademi Teknik Adikarya

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Abstract

Micro, Small, and Medium Enterprises (MSMEs) play a strategic role in boosting economic growth, but they still face various challenges in financial management, particularly related to transaction recording, financial planning, and the use of digital technology. This community service program aims to improve the digital-based financial management capacity of MSMEs to strengthen their economic competitiveness. The program implementation method includes identifying partner needs, simple financial management training, mentoring in the use of digital financial recording applications, and evaluating the implementation of business financial management systems. Participants were MSMEs in the target area who have limitations in implementing technology-based financial management. The results of the program showed an increase in participants' understanding and skills in systematic financial recording, separating business and personal finances, and preparing simple financial reports using digital applications. In addition, business owners began to be able to utilize financial data for business planning and economic decision-making. This program also resulted in increased business management efficiency and opened up market expansion opportunities through integration with digital platforms. Therefore, strengthening digital-based financial management capacity is a crucial strategy in supporting business sustainability and increasing community economic competitiveness. This program is recommended to be continued through ongoing mentoring to ensure the consistent implementation of digital financial management in MSMEs
The Role of Financial Management in Improving Business Sustainability Ristanto
Indonesia Journal of Engineering and Education Technology (IJEET) Vol. 3 No. 2 (2025): In Progress
Publisher : AKADEMI TEKNIK ADI KARYA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61991/ijeet.v3i2.232

Abstract

This study aims to analyze the role of financial management in improving business sustainability through a literature review approach of various relevant research results and scientific publications. The method used is a literature study by reviewing journal articles, books, and research reports that discuss financial management practices and their implications for business sustainability over the past ten years. The analysis process is carried out through identification, selection, and synthesis of research findings to obtain a comprehensive picture of financial management strategies that support business sustainability. The results of the study indicate that the implementation of effective financial management, including budget planning, cash flow management, cost control, financial risk management, and appropriate investment decision-making, plays a crucial role in maintaining operational stability and increasing business resilience to market dynamics. In addition, the use of digital financial technology contributes to the efficiency of financial management and expands access to business financing. The study findings also confirm that businesses that implement professional financial management practices tend to have better adaptability in the face of economic uncertainty. Therefore, strengthening financial management competency is a strategic factor in achieving business sustainability, especially for small and medium enterprises facing limited resources. This research is expected to serve as a conceptual reference for the development of management economics studies and provide recommendations for business actors in improving the quality of financial management for long-term business sustainability.