Analysis of the Implementation of Corporate Internet Banking in Business Debt Management to Support Internal Control at PT Spindo Tbk

Abstract

The implementation of digital financial systems in the manufacturing industry is crucial for accelerating cash flow turnover while maintaining the reliability of daily internal supervision. This study aimed to analyze the implications of implementing Corporate Internet Banking services on the effectiveness of internal control in managing accounts payable and vendor payments at PT SPINDO Tbk. This study employed a descriptive qualitative approach with a specific focus on the cash disbursement workflow. Primary data were obtained through in-depth interviews with key informants from the Finance Division who held authorization roles as Maker (Financial Staff), Checker (Financial Supervisor), and Approver (Financial Manager). Secondary data were supported by an analysis of the company’s non-confidential internal documents. Data validity was assessed through source triangulation and methodological triangulation. The results showed that the migration from manual systems to the Corporate Internet Banking platform significantly improved operational efficiency through time and cost savings. The system successfully reduced the administrative burden associated with manual preparation of giro/checks, eliminated physical courier queues at bank branches, and provided real-time cash transaction data. Based on the COSO Internal Control Framework and Accounting Information System (AIS) perspectives, the implementation of a tiered authorization system (Maker–Checker–Approver) and automated beneficiary account validation proved effective in minimizing the risks of fraud, duplicate payments, and human error.