To understand a business in developing the condition or not, then you need to study the financial statements, consisting of: Balance Sheet, Income Statement and cash flow statement. Of these three, the most critical is the statement of cash flows or cash flow. Why?
If you have run the business according to business strategies that have been studied before, the end result of the management of this effort will be reflected in financial statements. The financial statements can be made in weekly, monthly, quarterly or yearly. Good company, at least going to make financial reports at least on a monthly basis, but cash flow should be made weekly. Cash flow of fresh blood is like our body, therefore as head of the company or the person responsible in the financial sector, you should look at cash flow.
If the results of your efforts consist of various products / services, then through a cash flow statement, you will be able to see the products or services are most profitable, the business where the most cost issue, where efforts are moving cepat but a small margin, and so forth. Even you will get to know like what type of customer you are, whether there are changes in consumer demand as seen from the shift in cash flow from sales of products / services. From the financial statements, especially cash flow, you can read everything, and predict how the prospect of selling a product for the next few weeks.
Learn, too, whether on the weekends the cash position is positive or negative? How projections in the next week. There are some products selling different ways, this will all be reflected in cash flow.
By studying the cash flow, you will be able to immediately take steps if there are some products that had limited sales. Are you going to boost sales, or had to sell the discount, or even stop or reduce production of these goods to the next stage, and only sell the goods sold in the market.
In the end, by overseeing cash flow, you will be able to know your company's liquidity position, whether the products and services you sell are still in the safe position. So, how important it is to learn your company's cash flow. You have not done so? Go for it, and see the results, you will be interested to better understand your business.
source :http://edratna.wordpress.com/2007/12/13/mengapa-harus-selalu-memperhatikan-cash-flow/
Monday, August 9, 2010
Islamic Banking in Indonesia in Brief
In view of providing a wider banking services alternative to Indonesian economy, the development of Islamic banking in Indonesia is implemented under dual banking system in compliance with the Indonesian Banking Architecture (API). Islamic banking and conventional banking systems jointly and synergically support a wider public fund mobilization in the framework of fostering financing capability of national economic sectors.
The characteristic of Islamic banking operation is based on partnership and mutual benefits principle provides an alternative banking system with mutual benefits both for the public and the bank. This system will give priorities to aspects related to fairness in transaction and ethical investment by underlining the values of togetherness and partnership in production, and by avoiding any speculative activity in financial transaction. By providing various products and banking services supported by variative financial scheme,.Islamic banking will be a credible alternative that can be benefited by all of Indonesian people without exception.
In the context of macro economic management, an extensive use of various Islamic financial products and instrument will help attaching financial sector and real sector and create harmonization between the two sectors. In addition to support financial and business the widely use of islamic product and instrument will also reduce speculative transactions in thus the economy supports the stability of overall financial system. At the end, the Islamic banking will significantly contribute to the achievement of mid-long term price stability.
The enactment of Act no. 21 of 2008 issued on July 16, 2008 has provided a more adequate legal base to the development of Islamic banking in Indonesia ,and consequently will accelerate the growth of the industry. With an impressive development progress reaching an annual average asset growth of more than 65% in the last five years, it is expected that Islamic banking industry will have a more significant role in supporting national economy.
Policy of Islamic Banking Development in Indonesia.
”The Blueprint of Islamic Banking Development in Indonesia ” prepared by Bank Indonesia in 2002 provides guidance to stakeholders of Islamic banking and to set the position and vision of Bank Indonesia in developing Islamic bank in Indonesia. In the process of preparing this Blueprint, various aspects have been taken comprehensively into consideration such as the actual condition of national Islamic banking industry including related tools, development trend of Islamic banking industry within international scale as well as system development of national Islamic finance that has started to be materialized and inseparable from wider architectural landscape such as Indonesian Banking Architecture (API) and Indonesian Financial System Architecture (ASKI) including international best practices formulated by international Islamic financial institutions such as IFSB (Islamic Financial Services Board), AAOIFI and IIFM.
The development of Islamic banking was directed to provide the highest benefits to the public and to give optimal contribution to national economy. Consequently its development path is always referred to other strategic plans, such as Indonesian Banking Architecture (API), Indonesian Financial System Architecture (ASKI) as well as Medium Term National Development Plan (RPJMN) and Long-Term National Development Plan (RPJPN). Therefore, the policy in developing Islamic banking is a part and an activity supporting the achievement of a larger scale strategic planning in developmnet at national level.
”The Blueprint of of Islamic Banking in Indonesia ” defines the vision, mission and target of Islamic banking development as well as strategic initiatives with clear priorities in response to the main challenge and in reaching the target for the next ten years by achieving significant market share of Islamic banking through the advancement of the role of Islamic banking in the national, regional and international financial activities with other Islamic financial sectors.
In the condition of its integration, in the short term, the phase of Islamic banking development is more directed toward servicing the huge potential of domestic market. In other words, Indonesian Islamic banking must be able to become domestic player with an internatioal quality in services and performance.
Subsequently, the Islamic banking system envisioned by Bank Indonesia is a modern Islamic banking with open and universal characteristics and inclusive to all Indonesian people with no exception. It refers to banking system presenting applicative forms of Islamic economic concept that is wisely formulated in the current context of problems faced by Indonesia within the consciousness of the historical socio-cultural condition of this country. Only by doing that, the aspiration development of Islamic banking will always be recognized and accepted by all Indonesian people as a part of the solutions to the various problems encountered by this country.
Grand Strategy of Islamic Banking Market Development
In line with the concrete efforts in developing Islamic banking in Indonesia, Bank Indonesia has formulated a Grand Strategy of Islamic Banking Market Development, as a comprehensive strategy of market development covering strategic aspects, such as: determining the vision of 2010 as the leading Islamic banking industry in ASEAN, creating the new image of inclusive and universal Islamic banking, mapping a more accurate market segment, developing more various products, improving services as well as adopting new communication strategy of Islamic banking by positioning it as a beyond banking position. ( Islamic banking is more than just a bank).
Hence, different concrete programs have and will be performed as the implementation stage of the Grand Strategy of Islamic Banking Market Development including but not limited to the following measures:
First, assigning a new vision of Islamic banking development on phase I in 2008 to build understanding in Islamic banking as Beyond Banking by reaching an asset target of Rp 50 trillion and industrial growth of 40%, phase II in 2009 with the objective of positioning Indonesian Islamic banking as the most attractive one in ASEAN. Phase III in 2010 will have the objective of attaining Indonesian Islamic banking as a leading Islamic Bank in ASEAN.
Second, new image program of Islamic banking that includes positioning, differentiation and branding aspects. The new positioning of Islamic bank as banking that provides mutual benefits to both parties, differentiation aspect with competitive advantages with various products and schemes, transparency, competent and ethical finance, updated and user friendly information technology as well as qualified investment expert of Islamic finance. Branding aspect will be represented by ”Islamic bank, more than just a bank “( beyond banking).
Third, new mapping program which is more accurate on Islamic banking market potential that generally directs Islamic bank services as universal service or bank accessible for all kinds of people and all segments in accordance with the strategy of each Islamic bank.
Fourth, product development program directed to various products variations supported by the unique value offered (mutual benefits) and strenghthened by a wide office network and the use of easily comprehended standards of product name (example : deposit – iB, financing – iB).
Fifth, program of service quality enhancement supported by competent human resources and the supply of information technology to meet customer ’s requirement and satisfaction. This competency is also expected to be able to communicate products and services of Islamic banking to customer correctly and clearly get always complying to sharia principles; and
Sixth, a wider and more efficient socialization and educational program for public interest through various direct or indirect (printing and electronic media, online/website) communication channels with the objective of contributing comprehension on the advantages of Islamic banking products and services that can be benefited by the public.
source : http://www.bi.go.id/web/en/Perbankan/Perbankan+Syariah
Transaction Banking on the Market? Why Not!
Great potential in micro and small business segments pushed a number of banks offering micro services. One of them, the Bank, which utilizes mobile devices with enough creative EDC.
"You want to pull the cash or cash deposit," said Dewi when receiving chip cards - much like an ATM card - from a dealer in the area of Serpong. Furthermore, process banking transactions were carried out only by using electronic data capture (EDC), which is always ditenteng officers went to the bank when its customers in the markets, terminals, plantations, and various other places.
Banking transactions such field is a new phenomenon in the national banking industry in the past 2-3 years. A number of banks offer banking services to micro businesses and small enterprises (MSEs). They proactively approached prospective customers who are in the market, the terminal until the plantations in remote areas.
Enthusiasm for the banks to pick up or deliver the funds to MSEs because its potential is very large indeed. Banking services in this segment is popularly known as the micro. Large loans ranging from USD 5 million to $ 500 million - although in reality the loan amount is only USD $ 5 million-50 million. In Indonesia, the potential for MSEs is expected to reach 40 million people. The number of MSEs in need of credit with the amount of USD 5 million-50 million predicted as many as 15 million people. "That's a huge market potential," said Karim I. G. Siregar, Director of Information Technology National Pension Savings Bank (BTPN). "Of that amount, most are on the market," he added.
Not surprisingly, some banks were directed to the target bidiknya among MSEs. After the Bank BRI and Bank Danamon, Bank 's was followed by the People's Business Credit Partners. Then, followed by the Bank, Bank Mandiri and Bank Niaga. In fact, HSBC did not want to miss. From the ODA, there is a name that looks BPR Karyajatnika Sadaya most aggressive.
BTPN, continued Karim, this micro-positioning the business unit with an emphasis on ease and speed the process. This documentation includes a simple, fast credit decision process and the withdrawals are easy. Ease also includes a withdrawal, deposit and checking balances on customer premises.
Of course, the detail of information management required to support and monitor business unit performance. "This is encouraging the construction of a system that enables automated integration process from loan application to loan disbursement process, namely Loan Entry System," said Karim. According to him, imaging technology enables the process of withdrawal can be done centrally, because the process of administrative documents, both documents and data security of customer data, can be processed electronically.
Interestingly, the pattern used by all banks to work and serve among the MSEs are almost the same, that is by "turba" (come down) come to the prospective customers in various places and corners, to bring a portable mobile device that EDC. That way, any transaction carried out outside the bank can quickly and easily. Therefore, according to Karim, the use of mobile services for micro EDC was more related to the needs of how fast and easy service. "There are difficulties for customers to come to the bank, so that the banks need to be proactive toward him. Stay how control functions, and what tools can be used for the purposes of the transaction, "Institute of Technology graduate student Bansung explained.
According to Karim, the tools needed to service transactions among these MSEs must have traits: practical carry everywhere (mobile), can print out as proof of the transaction, and must have the ability to verify that only authorized users can use tool.
With such characteristics, the most appropriate tool to serve customers is mobile technology micro EDC. Therefore, EDC has all the functions needed. In short, with EDC technology, the withdrawal transaction, deposit, and customers can check balances performed at the customer site.
Micro services using mobile technology in BTPN EDC is introduced (go live) at the end of 2008. According to Karim, the application development process conducted in July-November 2008. During the period that he said he made several applications, both for chip cards, EDC, as well as communication between the EDC application and system corebanking Bank. And, in line with the development of mobile service EDC, management BTPN also intensified the opening of new branches in each market will be made the target. In early 2009, the Bank opened 485 new micro branches, so that until earlier this year the number reached 550 branches.
Karim claimed, used mobile technology BTPN EDC has uniqueness and advantages over similar devices used by competitors, ie, capable of reading fingerprints online. Mobile EDC is equipped with a GPRS module for online transactions, fingerprint sensor (biometric sensors), print features, and can read a chip card. Smart card with a chip embedded in it that would be provided to customers as a means of verification when transacting. These cards store personal data of customers.
To develop this mobile service EDC, BTPN parties must reach into the fund more than U.S. $ 1 million. Dana was among others to buy chip cards, which cost USD 15-50 thousand per card, depending on the amount of data; buying EDC devices that cost about Rp 5 million per unit (per branch takes an average of four units, so the sum total of about 2200 units EDC); and make the application.
The application development much more expensive. Section, the application was developed specifically as it relates to security. Because, this is a process transactions outside banks using public communication channels. For that, need to apply some level of security, both at the card level and at the level of EDC. In order to develop this mobile service EDC, the Bank partnered with Integration Partner Solutions Komputindo and Prima Vista as an implementer.
How it works? Karim explained, when customers will enter into transactions, fingerprint verification and chip card directly performed on the EDC. When verification okay, transactions can be done. Customers - through the help of bank employees - will select the type of transaction services. Inside the EDC's mobile service types included: cash deposits, cash withdrawals, check balances, check your last few transactions (account history) and open the account (not to be used as a whole). "The process is the same as ordinary bank teller transactions. Only, the teller was not via the terminal, but through the EDC, "said Karim.
Furthermore, when engaged in transactions, this device will "call" corebanking BTPN existing system at headquarters. And, the way communication, for use GSM / GPRS, GSM his connections into the server the Bank. Then, from the server into corebanking system to make transactions. For this GSM data services, the Bank worked with Telkomsel. In corebanking BTPN existing system interface standard (for this type of service like the one in the EDC). BTPN own IT team of translators to make the device can receive data transfer from the EDC.
According to Dewi, staff Offbranch Transaction Officer (OTO) BTPN People's Business Partners (Mur) BSD branch, there are three types of transactions that can be served OTO officers using mobile EDC, ie, cash deposit, cash withdrawal and Moving Book. Transaction process is quite simple. When it comes to customers, the customers will give the card and the amount of money paid. After the money is calculated, the verification process, where customers are required to make fingerprints on the EDC. Then, select the features cash deposit, and enter the amount to be paid a nominal / tabungkan. Furthermore, the transaction slip will be printed automatically. Since transactions are done online, when it also will be sent to the server data, which continued to corebanking BTPN system at the center. "For cash deposit transactions and moving book, the steps are almost identical. Only the menus are different, "said Dewi.
According to the Goddess, so I can run this EDC mobile services, the bank provides training to officers before the official OTO go directly to the branch. Now, the average daily transactions of each OTO 10-25 times, depending on the number of debtors in each branch. "So far BTPN've done enhancement to the features in the EDC, so the features available are adequate."
Ease and speed in processing transactions through mobile service EDC is recognized by customers. One of them, Andi Mahmud, traders in the modern market BSD. According to Andi, she has become a customer Mur BTPN since December 2008. Usually, the type of transaction that did was cash deposit for the payment of installments. "The bank clerk who came to the market to bring the EDC is very helpful. I do not need to come to a branch. So, time efficiency, cost and effort, "said Andi. "By going to a branch, is more time-consuming, and labor costs," added Maman, a trader at Perum Tangerang, which is nuts BTPN customers since March last year.
BTPN alacrity UMK capture the market potential of mobile services through EDC seems pretty fruitless. BTPN business grow significantly. Especially since the change and modernization of the massive 2008. Net interest income in March 2009 increased to Rp 343 billion (up 4.4% compared to same period in 2008). Loan growth of 6% in the quarter I/2009 (higher than average growth of the national banking). Third party funds during the quarter also grew by 22.2% I/2009 (well above the average growth of the national banking). As of March 2009, assets reached Rp 16.1 trillion BTPN or grew 17.5% compared to December 2008 which amounted to Rp 13.7 trillion. Special nut, until the end of last year, the number of customers reached about 175 thousand people, with total loans disbursed more than USD 351 billion.
Of course, in addition to implementing mobile service EDC, the Bank also complement the micro business unit with other application systems to monitor in detail the performance of each branch of MSEs in the region respectively. (*)
Source: A, Mohammad, B. Swa Magazine. 1 April 2010. Information Technology, pp 120-123
"You want to pull the cash or cash deposit," said Dewi when receiving chip cards - much like an ATM card - from a dealer in the area of Serpong. Furthermore, process banking transactions were carried out only by using electronic data capture (EDC), which is always ditenteng officers went to the bank when its customers in the markets, terminals, plantations, and various other places.
Banking transactions such field is a new phenomenon in the national banking industry in the past 2-3 years. A number of banks offer banking services to micro businesses and small enterprises (MSEs). They proactively approached prospective customers who are in the market, the terminal until the plantations in remote areas.
Enthusiasm for the banks to pick up or deliver the funds to MSEs because its potential is very large indeed. Banking services in this segment is popularly known as the micro. Large loans ranging from USD 5 million to $ 500 million - although in reality the loan amount is only USD $ 5 million-50 million. In Indonesia, the potential for MSEs is expected to reach 40 million people. The number of MSEs in need of credit with the amount of USD 5 million-50 million predicted as many as 15 million people. "That's a huge market potential," said Karim I. G. Siregar, Director of Information Technology National Pension Savings Bank (BTPN). "Of that amount, most are on the market," he added.
Not surprisingly, some banks were directed to the target bidiknya among MSEs. After the Bank BRI and Bank Danamon, Bank 's was followed by the People's Business Credit Partners. Then, followed by the Bank, Bank Mandiri and Bank Niaga. In fact, HSBC did not want to miss. From the ODA, there is a name that looks BPR Karyajatnika Sadaya most aggressive.
BTPN, continued Karim, this micro-positioning the business unit with an emphasis on ease and speed the process. This documentation includes a simple, fast credit decision process and the withdrawals are easy. Ease also includes a withdrawal, deposit and checking balances on customer premises.
Of course, the detail of information management required to support and monitor business unit performance. "This is encouraging the construction of a system that enables automated integration process from loan application to loan disbursement process, namely Loan Entry System," said Karim. According to him, imaging technology enables the process of withdrawal can be done centrally, because the process of administrative documents, both documents and data security of customer data, can be processed electronically.
Interestingly, the pattern used by all banks to work and serve among the MSEs are almost the same, that is by "turba" (come down) come to the prospective customers in various places and corners, to bring a portable mobile device that EDC. That way, any transaction carried out outside the bank can quickly and easily. Therefore, according to Karim, the use of mobile services for micro EDC was more related to the needs of how fast and easy service. "There are difficulties for customers to come to the bank, so that the banks need to be proactive toward him. Stay how control functions, and what tools can be used for the purposes of the transaction, "Institute of Technology graduate student Bansung explained.
According to Karim, the tools needed to service transactions among these MSEs must have traits: practical carry everywhere (mobile), can print out as proof of the transaction, and must have the ability to verify that only authorized users can use tool.
With such characteristics, the most appropriate tool to serve customers is mobile technology micro EDC. Therefore, EDC has all the functions needed. In short, with EDC technology, the withdrawal transaction, deposit, and customers can check balances performed at the customer site.
Micro services using mobile technology in BTPN EDC is introduced (go live) at the end of 2008. According to Karim, the application development process conducted in July-November 2008. During the period that he said he made several applications, both for chip cards, EDC, as well as communication between the EDC application and system corebanking Bank. And, in line with the development of mobile service EDC, management BTPN also intensified the opening of new branches in each market will be made the target. In early 2009, the Bank opened 485 new micro branches, so that until earlier this year the number reached 550 branches.
Karim claimed, used mobile technology BTPN EDC has uniqueness and advantages over similar devices used by competitors, ie, capable of reading fingerprints online. Mobile EDC is equipped with a GPRS module for online transactions, fingerprint sensor (biometric sensors), print features, and can read a chip card. Smart card with a chip embedded in it that would be provided to customers as a means of verification when transacting. These cards store personal data of customers.
To develop this mobile service EDC, BTPN parties must reach into the fund more than U.S. $ 1 million. Dana was among others to buy chip cards, which cost USD 15-50 thousand per card, depending on the amount of data; buying EDC devices that cost about Rp 5 million per unit (per branch takes an average of four units, so the sum total of about 2200 units EDC); and make the application.
The application development much more expensive. Section, the application was developed specifically as it relates to security. Because, this is a process transactions outside banks using public communication channels. For that, need to apply some level of security, both at the card level and at the level of EDC. In order to develop this mobile service EDC, the Bank partnered with Integration Partner Solutions Komputindo and Prima Vista as an implementer.
How it works? Karim explained, when customers will enter into transactions, fingerprint verification and chip card directly performed on the EDC. When verification okay, transactions can be done. Customers - through the help of bank employees - will select the type of transaction services. Inside the EDC's mobile service types included: cash deposits, cash withdrawals, check balances, check your last few transactions (account history) and open the account (not to be used as a whole). "The process is the same as ordinary bank teller transactions. Only, the teller was not via the terminal, but through the EDC, "said Karim.
Furthermore, when engaged in transactions, this device will "call" corebanking BTPN existing system at headquarters. And, the way communication, for use GSM / GPRS, GSM his connections into the server the Bank. Then, from the server into corebanking system to make transactions. For this GSM data services, the Bank worked with Telkomsel. In corebanking BTPN existing system interface standard (for this type of service like the one in the EDC). BTPN own IT team of translators to make the device can receive data transfer from the EDC.
According to Dewi, staff Offbranch Transaction Officer (OTO) BTPN People's Business Partners (Mur) BSD branch, there are three types of transactions that can be served OTO officers using mobile EDC, ie, cash deposit, cash withdrawal and Moving Book. Transaction process is quite simple. When it comes to customers, the customers will give the card and the amount of money paid. After the money is calculated, the verification process, where customers are required to make fingerprints on the EDC. Then, select the features cash deposit, and enter the amount to be paid a nominal / tabungkan. Furthermore, the transaction slip will be printed automatically. Since transactions are done online, when it also will be sent to the server data, which continued to corebanking BTPN system at the center. "For cash deposit transactions and moving book, the steps are almost identical. Only the menus are different, "said Dewi.
According to the Goddess, so I can run this EDC mobile services, the bank provides training to officers before the official OTO go directly to the branch. Now, the average daily transactions of each OTO 10-25 times, depending on the number of debtors in each branch. "So far BTPN've done enhancement to the features in the EDC, so the features available are adequate."
Ease and speed in processing transactions through mobile service EDC is recognized by customers. One of them, Andi Mahmud, traders in the modern market BSD. According to Andi, she has become a customer Mur BTPN since December 2008. Usually, the type of transaction that did was cash deposit for the payment of installments. "The bank clerk who came to the market to bring the EDC is very helpful. I do not need to come to a branch. So, time efficiency, cost and effort, "said Andi. "By going to a branch, is more time-consuming, and labor costs," added Maman, a trader at Perum Tangerang, which is nuts BTPN customers since March last year.
BTPN alacrity UMK capture the market potential of mobile services through EDC seems pretty fruitless. BTPN business grow significantly. Especially since the change and modernization of the massive 2008. Net interest income in March 2009 increased to Rp 343 billion (up 4.4% compared to same period in 2008). Loan growth of 6% in the quarter I/2009 (higher than average growth of the national banking). Third party funds during the quarter also grew by 22.2% I/2009 (well above the average growth of the national banking). As of March 2009, assets reached Rp 16.1 trillion BTPN or grew 17.5% compared to December 2008 which amounted to Rp 13.7 trillion. Special nut, until the end of last year, the number of customers reached about 175 thousand people, with total loans disbursed more than USD 351 billion.
Of course, in addition to implementing mobile service EDC, the Bank also complement the micro business unit with other application systems to monitor in detail the performance of each branch of MSEs in the region respectively. (*)
Source: A, Mohammad, B. Swa Magazine. 1 April 2010. Information Technology, pp 120-123
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