Journal of Emerging Trends in Economics and Management Sciences: Home

Article Title:
Cash Management System and Suggestions for Policy Formulation for e-Cash Management System in Sri Lanka
by Tharaka Liyanapathirana and R.P.C. Ranjani

Abstract:
The public sector in Sri Lanka moves transitionally, whilst a silent revolution has taken place in the world?s entire payment system aiming to improve e-cash management system. Thus, the purpose of this study was to examine the effect of computerized cash transfer system on cash management, specifically the study is sought to determine the privacy and security of cash transferred, assess time saved as well as productivity achieved by implementing computerized cash transfer system, explore the strategies to be put in place to improve computerized cash transfer system towards e-cash management system and establish relationship in government cash management practices. It examined and analyzed the entire study area and tried to ascertain policy implications. Primary data was collected by interviews and observations. In addition, the secondary data obtained from the documents which are available on information of e-cash management systems were used. Interviews were conducted with top level managers in public spending agencies and mangers of state-owned commercial banks in Sri Lanka. The data were analyzed and policy implications were explained. The results indicated that e-cash management system has the need of strengthening the system security and privacy. It is observed that a significant relationship exists between e-cash management fund transfer system and cash management system. Further, it is revealed that e-cash management system has led to effective and efficient cash management even though it is being faced with challenges. It was observed that policy formulation has been attempted to bridge the gap between desired level of policy and existing level of policy of the government spending agencies. In addition, it is needed further strengthened and with direct involvement and political willingness.

Keywords: e-Government Policy, Policy Formulation, e-Cash Management, Public Sector

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