SMS1: FINANCIAL MANAGEMEMENT SYSTEM WITH BUDGETING, FINANCIAL FORECASTING AND PLANNING WITH AI FOR BESTLINK COLLEGE OF THE PHILIPPINES

Abstract

Bestlink College of the Philippines faces financial management challenges due to outdated and fragmented systems that hinder budgeting, forecasting, and resource allocation. Common issues include processing delays, data entry errors, and the absence of predictive tools. This study addresses these concerns by developing an AI-powered Financial Management System (FMS) integrated within the institution's School Management System. Key features include automated budgeting, financial forecasting, and disbursement management. Built using Agile Scrum and microservices architecture, the system aims to improve accuracy, transparency, and data-driven decision-making. The Agile Scrum methodology guided the iterative development of the FMS. Data gathering was conducted through interviews and document analysis to identify system requirements. The system was developed using a WAMP stack (Windows, Apache, MySQL, PHP) and microservices to ensure modularity and scalability. Core modules included budgeting, forecasting, general ledger, and disbursement reporting. RESTful APIs enabled smooth integration between system components, while role-based access controls and encryption safeguarded sensitive financial data. The developed FMS successfully automated core financial processes, including budgeting, forecasting, and disbursement tracking. Real-time financial reporting allowed administrators to make informed decisions and manage institutional resources more effectively. AI-driven forecasting tools increased the accuracy of financial predictions by analyzing historical data and trends. The system optimized the budget approval workflow, reduced delays, and facilitated interdepartmental coordination. RESTful API integration ensured seamless module communication and system scalability. Security protocols, including encrypted access and role-based permissions, effectively protected financial information. Overall, the system reduced manual errors, enhanced financial oversight, and contributed to improved operational efficiency and long-term financial sustainability. The findings demonstrated that the AI-integrated Financial Management System significantly enhanced financial planning and control at Bestlink College. These results support existing literature on the effectiveness of technology-driven financial solutions in educational institutions. While the system was only implemented in a single institution, limiting generalizability, the outcomes highlight its potential for broader application. Future research may explore deployment in multiple academic settings and further development of AI capabilities. The study provides a foundation for policy reforms that promote intelligent, data-driven financial systems in schools.