The Impact of Digital and Real-Time Financial Management on Internal Financial Performance and Decision-Making in Small and Medium-Sized Enterprises (SMEs)

Abstract

Digital and real-time financial management have a profound impact on the internal financial performance and decision-making processes of small and medium-sized enterprises (SMEs). In the highly competitive business landscape, effective financial management is crucial for SMEs to drive growth and make informed strategic decisions. By embracing digital tools and real-time financial management practices, SMEs can enhance their internal financial performance and optimize decision-making. However, the adoption of digital and real-time financial management practices may pose challenges for SMEs. Limited resources, lack of technological expertise, and concerns about data security are among the barriers that SMEs may face.