Cibelok (05/08/2024) Along with the development of the global economy and technological advances, financial management is increasingly becoming complex. Traditional methods of economic management often involve manual recording and time-consuming administrative processes. Digitalization allows these processes to be automated, reducing the time required for recording and increasing overall efficiency.
A student from Diponegoro University, Mazaya Nabila Erwin from the Accounting and Taxation Department of the Vocational School, recently implemented an innovative work program to digitize financial management in the Cibelok Village environment, especially for MSME actors. This program is part of the student’s efforts to reduce dependence on manual recording, which is prone to errors and fraud. This is designed to focus on applying digital technology to increase efficiency and transparency in financial management.
This financial management digitalization program was implemented on Monday, August 5, 2024, for one of the MSMEs, namely Andyn Bakery, with Mrs. Santi as the business actor. This program is carried out by providing education and assistance to MSMEs in managing and administering finances. The stages begin with introducing the BukuWarung application and several features, such as debt recording, sales recording, and bookkeeping. The introduction of the application is carried out using leaflets distributed to cover the main features of the BukuWarung application. The distribution of these leaflets is expected to disseminate information to other MSMEs quickly.
MSMEs play an essential role in the village economy by contributing to employment and economic activity in many areas. The same applies to MSMEs in Cibelok Village, where most people work as traders. MSME actors in Cibelok Village admit that they still manage their finances manually, and some still need to record them due to habits and dependence on traditional methods. Often, MSMEs that still use manual financial management must be made aware of the risks and losses, such as how much impact it has on the accuracy of financial reports, the time required for administration, and potential data security risks.
The digitalization program of financial management through the BukuWarung application was welcomed positively by MSMEs for its application in their businesses. The application that was commented on was so easy through the application because they did not need to record their income and expenses in a book as is usually done. In addition, the ease of recording debts or other obligations can be linked to their customer contacts in the cellphone contacts of each MSME. Thus, financial management will be more efficient, transparent, and integrated.
The local community has several high hopes regarding the benefits and impacts of this promising initiative. Digitalization presents a vital solution to increase efficiency and effectiveness in MSME financial management. MSMEs also hope this digitalization will improve accuracy in financial recording and reporting to ease access to MSME financial information. Another big hope is to increase customer and business partner trust in MSMEs so that later, it can facilitate administration submitting financing from financial institutions.