A STUDY ON DIGITALIZATION OF PAYMENT SYSTEMS AND ITS IMPACT ON CASH FLOW MANAGEMENT

The digitalization of payment systems has significantly transformed financial operations by improving transaction speed, accuracy, and control over cash flows. This study examines the impact of digital payment systems on cash flow management in the sugar manufacturing industry. Using a descriptive research design, primary data were collected from 129 employees through structured questionnaires, supported by secondary sources. The analysis focuses on the adoption level of digital payment practices and their influence on operational efficiency and cash flow management. Regression results reveal a significant positive relationship between digital payment adoption and cash flow management, with higher adoption leading to faster settlements and improved liquidity. The findings highlight strong acceptance of digital payments across employee groups and emphasize the role of digitalization in enhancing financial efficiency. The study concludes that effective integration of digital payment systems can support sustainable cash flow management and improved financial performance. KEYWORDS: Digital Payment Systems, Cash Flow Management, Operational Efficiency, Financial Digitalization, Sugar Manufacturing Industry