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Optimization of Digital Finance to Improve the Performance of Klubanotic MSMEs in Brebes Regency
Corresponding Author(s) : Yuni Utami
ASEAN Journal of Empowering Community,
Vol. 3 No. 2 (2023): ASEAN Journal of Empowering Community
Abstract
The rapid development of technology in Indonesia has changed the way of life in many aspects, including the financial sector. Financial technology (fintech) is one of the technological developments that has the potential to increase the productivity and efficiency of micro, small, and medium enterprises. (UMKM). SMEs play an important role in the Indonesian economy, contributing 60.5% to GDP and 96.9% to the national workforce. However, MSMEs face challenges in adopting digital financial technology due to a lack of digital skills and knowledge in accounting practices. To address this challenge, training programs on financial management systems, including accounting software applications, can be developed to help SMEs manage their finances effectively. Klubanostic UMKM Brebes, a community of MSMEs producing various types of products, faces similar challenges. By practicing with accounting software applications, SMEs can improve their accounting practices, which will contribute to the growth of their business. Fintech is a dynamic concept that brings about a paradigm shift in the financial and business sectors, with the potential to offer efficiency, cost reduction, process improvement, speed, flexibility, and
innovation for SMEs.
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- Amrina, E.; Yusof, S.M. Key performance indicators for sustainable manufacturing evaluation in automotive companies. In Proceedings of the 2011 IEEE International Conference on Industrial Engineering and Engineering Management, Changchun, China, 3–5 September 2011; pp. 1093–1097.
- Anand, B. Reverse globalization by the internationalization of SMEs: Opportunities and challenges ahead. Procedia-Social Behav. Sci. 2015, 195, 1003–1011. [CrossRef]
- Aremu, M.A.; Adeyemi, S.L. Small, and medium scale enterprises as a survival strategy for employment generation in Nigeria. J. Sustain. Dev. 2011, 4, 200.
- Alshebami, A.S.; Aldhyani, T.H.H. The interplay of social influence, financial literacy, and saving behavior among Saudi youth and the moderating effect of self- control. Sustainability 2022, 14, 48780.
- Aulia, M. (2019). Penerapan Akutansi Pada Usaha Mikro Kecil dan Menengah (UMKM) di Kecamatan Lowokwaru Kota Malang. 7(2), 104–116.
- Cassetta, E.; Monarca, U.; Dileo, I.; Di Berardino, C.; Pini, M. ( 2020). The relationship between digital technologies and internationalization. Evidence from Italian SMEs. Ind. Innov. ,7, 311–339. [CrossRef]
- Databoks.co.id (2022, 14 April). Penggunaan Fintech Berdasarkan Pendapatan. Diakses pada 13 Februari 2023, https://databoks.katadata.co.id/d atapublish/2022/04/14/59-pengguna-fintech-di-indonesia-berpendapatan- menengah-bawah
- Dapp, T.; Slomka, L.; Hoffmann, R. (2014). Fintech–The digital (r) evolution in the financial sector. Dtsch. Bank Res. 2014, 11, 1–39.
- Ekono.go.id (2022), 1 Oktober). Perkembangan UMKM sebagai Critical
- Engine Perekonomian Nasional Terus Mendapatkan Dukungan Pemerintah. Diadkses pada 13 Februari 2023, https://www.ekon.go.id/publikas i/detail/4593/perkembangan-umkm- sebagai-critical-engine-perekonomian nasional-terus- mendapatkan- dukungan- pemerintah
- Fauji, D. A. F., & Widodo, M. W. W. (2020). Financial technology. In Artificial Intelligence and the Law. https://doi.org/10.4324/9780429 344015-2
- Frizzo-Barker, J.; Chow-White, P.A.; Adams, P.R.; Mentanko, J.; Ha, D.; Green, S. (2020). Blockchain as a disruptive technology for business: A systematic review. Int. J. Inf. Manag., 51, 102029. [CrossRef]
- Irma Muzdalifa, Inayah Aulia Rahma, B. G. N. (2018). Peran Fintech Dalam Meningkatkan Keuangan Inklusif Pada UMKM Di Indonesia ( Pendekatan Keuangan Syariah ). Jurnal Masharif Al- Syariah:Jurnal Ekonomi Dan Perbankan Syariah, 3(1), h. 1-24.
- Leong, K.; Sung, A. FinTech (Financial Technology): What is it and how to use technologies to create business value in a fintech way? Int. J. Innov. Manag. Technol. 2018, 9, 74–78.[CrossRef]
- Liudmila, Z.; Mateusz, D.; Gerhard, S. (2016). FinTech—What’s in a Name. In Proceedings of the Thirty Seventh International Conference on Information Systems, Dublin, Ireland, 11–14 December 2016.
- Lontchi, C.B.; Yang, B.; Shuaib, K.M. (2023). Effect of Financial Technology on SMEs Performance in Cameroon amid COVID-19 Recovery: The Mediating Effect of Financial Literacy. Sustainability, 15, 2171. https://doi.org/10.3390/su15032 171
- Mjongwana, A.; Kamala, P.N. Non- financial performance measurement by small and medium-sized enterprises operating in the hotel industry in the city of Cape Town. African J. Hosp. Tour. Leis. 2018, 7, 1–26.
- Mohamed, H.Y.; Hamdan, A.; Karolak, M.; Razzaque, A.; Alareeni, B. FinTech in Bahrain: The role of FinTech in empowering women. In Proceedings of the International Conference on Business and Technology, Istanbul, Turkey, 6–7 November 2021; pp. 757–766.
- Perwitasari, A.W. 2022. The Effect of Perceived Usefulness and Perceived Easiness towards Behavioral Intention to Use Fintech by Indonesian MSMEs. The Winners, 23(1), March 2022, 1-9
- DOI:10.21512/tw.v23i1.7078.
References
Amrina, E.; Yusof, S.M. Key performance indicators for sustainable manufacturing evaluation in automotive companies. In Proceedings of the 2011 IEEE International Conference on Industrial Engineering and Engineering Management, Changchun, China, 3–5 September 2011; pp. 1093–1097.
Anand, B. Reverse globalization by the internationalization of SMEs: Opportunities and challenges ahead. Procedia-Social Behav. Sci. 2015, 195, 1003–1011. [CrossRef]
Aremu, M.A.; Adeyemi, S.L. Small, and medium scale enterprises as a survival strategy for employment generation in Nigeria. J. Sustain. Dev. 2011, 4, 200.
Alshebami, A.S.; Aldhyani, T.H.H. The interplay of social influence, financial literacy, and saving behavior among Saudi youth and the moderating effect of self- control. Sustainability 2022, 14, 48780.
Aulia, M. (2019). Penerapan Akutansi Pada Usaha Mikro Kecil dan Menengah (UMKM) di Kecamatan Lowokwaru Kota Malang. 7(2), 104–116.
Cassetta, E.; Monarca, U.; Dileo, I.; Di Berardino, C.; Pini, M. ( 2020). The relationship between digital technologies and internationalization. Evidence from Italian SMEs. Ind. Innov. ,7, 311–339. [CrossRef]
Databoks.co.id (2022, 14 April). Penggunaan Fintech Berdasarkan Pendapatan. Diakses pada 13 Februari 2023, https://databoks.katadata.co.id/d atapublish/2022/04/14/59-pengguna-fintech-di-indonesia-berpendapatan- menengah-bawah
Dapp, T.; Slomka, L.; Hoffmann, R. (2014). Fintech–The digital (r) evolution in the financial sector. Dtsch. Bank Res. 2014, 11, 1–39.
Ekono.go.id (2022), 1 Oktober). Perkembangan UMKM sebagai Critical
Engine Perekonomian Nasional Terus Mendapatkan Dukungan Pemerintah. Diadkses pada 13 Februari 2023, https://www.ekon.go.id/publikas i/detail/4593/perkembangan-umkm- sebagai-critical-engine-perekonomian nasional-terus- mendapatkan- dukungan- pemerintah
Fauji, D. A. F., & Widodo, M. W. W. (2020). Financial technology. In Artificial Intelligence and the Law. https://doi.org/10.4324/9780429 344015-2
Frizzo-Barker, J.; Chow-White, P.A.; Adams, P.R.; Mentanko, J.; Ha, D.; Green, S. (2020). Blockchain as a disruptive technology for business: A systematic review. Int. J. Inf. Manag., 51, 102029. [CrossRef]
Irma Muzdalifa, Inayah Aulia Rahma, B. G. N. (2018). Peran Fintech Dalam Meningkatkan Keuangan Inklusif Pada UMKM Di Indonesia ( Pendekatan Keuangan Syariah ). Jurnal Masharif Al- Syariah:Jurnal Ekonomi Dan Perbankan Syariah, 3(1), h. 1-24.
Leong, K.; Sung, A. FinTech (Financial Technology): What is it and how to use technologies to create business value in a fintech way? Int. J. Innov. Manag. Technol. 2018, 9, 74–78.[CrossRef]
Liudmila, Z.; Mateusz, D.; Gerhard, S. (2016). FinTech—What’s in a Name. In Proceedings of the Thirty Seventh International Conference on Information Systems, Dublin, Ireland, 11–14 December 2016.
Lontchi, C.B.; Yang, B.; Shuaib, K.M. (2023). Effect of Financial Technology on SMEs Performance in Cameroon amid COVID-19 Recovery: The Mediating Effect of Financial Literacy. Sustainability, 15, 2171. https://doi.org/10.3390/su15032 171
Mjongwana, A.; Kamala, P.N. Non- financial performance measurement by small and medium-sized enterprises operating in the hotel industry in the city of Cape Town. African J. Hosp. Tour. Leis. 2018, 7, 1–26.
Mohamed, H.Y.; Hamdan, A.; Karolak, M.; Razzaque, A.; Alareeni, B. FinTech in Bahrain: The role of FinTech in empowering women. In Proceedings of the International Conference on Business and Technology, Istanbul, Turkey, 6–7 November 2021; pp. 757–766.
Perwitasari, A.W. 2022. The Effect of Perceived Usefulness and Perceived Easiness towards Behavioral Intention to Use Fintech by Indonesian MSMEs. The Winners, 23(1), March 2022, 1-9
DOI:10.21512/tw.v23i1.7078.