A Digital Financial Management Framework for SMEs: Leveraging AI, FinTech, and Predictive Analytics for Growth

• Author(s): Ngozi Joan Isibor ; Augustine Ifeanyi Ibeh ; Ngodoo Joy Sam-Bulya ; Ejuma Martha Adaga ; Chikezie Paul-Mikki Ewim; Godwin Ozoemenam Achumie
• Paper ID: 1704963
• Page: 751-763
• Published Date: 31-08-2023
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 7 Issue 2 August-2023

Abstract

Small and Medium Enterprises (SMEs) play a crucial role in economic development, yet they often face significant challenges in financial management due to limited resources, lack of expertise, and inefficient traditional banking systems. This paper proposes a Digital Financial Management Framework that leverages Artificial Intelligence (AI), Financial Technology (FinTech), and Predictive Analytics to enhance financial decision-making, risk management, and growth opportunities for SMEs. The framework integrates AI-driven automation for accounting, budgeting, and fraud detection, FinTech solutions for seamless digital payments and access to alternative financing, and predictive analytics to optimize cash flow forecasting, credit risk assessment, and investment strategies. By utilizing machine learning algorithms and big data analytics, SMEs can gain real-time financial insights, improve transparency, and make data-driven decisions that foster business expansion. The proposed framework also addresses cybersecurity concerns and regulatory compliance, ensuring financial integrity and trust in digital transactions. This study highlights case studies and empirical evidence demonstrating the positive impact of digital financial tools on SME efficiency and profitability. Ultimately, this research underscores the transformative potential of AI, FinTech, and predictive analytics in creating a sustainable, inclusive, and growth-oriented financial ecosystem for SMEs.

Keywords

Digital Financial Management, Artificial Intelligence, FinTech, Predictive Analytics, Cash Flow Optimization.

Citations

IRE Journals:
Ngozi Joan Isibor , Augustine Ifeanyi Ibeh , Ngodoo Joy Sam-Bulya , Ejuma Martha Adaga , Chikezie Paul-Mikki Ewim; Godwin Ozoemenam Achumie "A Digital Financial Management Framework for SMEs: Leveraging AI, FinTech, and Predictive Analytics for Growth" Iconic Research And Engineering Journals Volume 7 Issue 2 2023 Page 751-763

IEEE:
Ngozi Joan Isibor , Augustine Ifeanyi Ibeh , Ngodoo Joy Sam-Bulya , Ejuma Martha Adaga , Chikezie Paul-Mikki Ewim; Godwin Ozoemenam Achumie "A Digital Financial Management Framework for SMEs: Leveraging AI, FinTech, and Predictive Analytics for Growth" Iconic Research And Engineering Journals, 7(2)