Enhancing Financial Accountability through Cash Management Systems: Evidence from an Indonesian Islamic Higher Education Institution

Abstract

This study examines the implementation of the Cash Management System (CMS) and its contribution to financial governance and organizational effectiveness at IAI At Taqwa Bondowoso. As higher education institutions increasingly adopt digital technologies to improve accountability, transparency, and efficiency, CMS has emerged as a strategic tool for modernizing financial management practices. This research employed a qualitative case study approach, utilizing interviews, observations, and document analysis as data collection techniques. Data were analyzed using the interactive model of Miles, Huberman, and Saldaña. The findings indicate that CMS has transformed conventional financial administration into an integrated digital governance system through the Maker–Checker–Releaser authorization mechanism. The system strengthens internal control, enhances financial accountability, improves transaction transparency, and supports real-time financial monitoring. Furthermore, CMS contributes to organizational effectiveness by increasing time efficiency, reducing operational costs, improving information accuracy, and facilitating faster decision-making processes. The study concludes that CMS functions not only as a financial transaction platform but also as a governance instrument that supports sustainable and accountable financial management in higher education institutions. These findings contribute to the growing literature on digital financial governance within the context of Islamic higher education.