INSTITUTIONALIZATION OF SME’S IN TURKEY AND A COMPUTATIONAL FINANCIAL MANAGEMENT SOLUTION SUGGESTION

Abstract

This study focuses on to solve basic problems of SME’s in Turkey such as lack of finance, technical information, welleducated staff and institutionalization. The research project is proven that SME’s can be institutionalize easily by help
of a developed software. Project also aims to provide a fintech solution for survival of the businesses without being
dependent on the founder family members. After 2 years research and development process the system called “Head of
Finance” emerged as a web based, fast, cheap and user-friendly finance and risk management tool. Regarding the
uncertainty in the current market conditions, risk management application need for both banks and SME’s has been
increased. The innovative aspect of suggested software is to make financial decisions and risk management practices
accessible for SME’s while making their financial decisions. It is also aimed by the software to provide entrepreneurs
and managers decision support and risk management applications that are not made by any bookkeeping or accounting
software.