Cost Systems Present in Credit Unions in The City of Barranquilla in

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The 18th International Conference on Future Networks and Communications (FNC)

The 18th International
AugustConference on Halifax,
14-16, 2023, Future Networks and Communications
Nova Scotia, Canada (FNC)
August 14-16, 2023, Halifax, Nova Scotia, Canada
Cost Systems present in Credit Unions in the city of Barranquilla in
Cost Systems present in Credit Unions in the city of Barranquilla in
the 4.0 era
the 4.0 era
Evaristo Navarroaa*, Enrique Otaloraaa, Alberto Menaaa, Kennedy Hurtadobb, Delia Roblescc,
Evaristo Navarro *, Enrique Otalora ,Maria
Alberto Mena
Bordaa , Kennedy Hurtado , Delia Robles ,
Maria Bordaa
a
Universidad de la Costa, Cl. 58 #55 – 66, Barranquilla 080001, Colombia
Universidad
c a
UniversidaddeldeAtlántico,
la Costa, Cr
Cl.30
58#8
#55
– 49,
– 66,
Puerto
Barranquilla
Colombia080001,
081001,
Colombia
Colombia
Universidad
cc
I.E Técnicodel
delAtlántico,
Santuario,CrCl.
3047b
#8 –#8d-60,
49, Puerto
Barranquilla
Colombia080001,
081001,Colombia
Colombia
c
I.E Técnico del Santuario, Cl. 47b #8d-60, Barranquilla 080001, Colombia
Abstract
Abstract
The present study is aimed at characterizing the Cost Systems present in Savings and Credit Cooperatives in the city of
The present study
Barranquilla in theis4.0aimed
era. atThecharacterizing the Cost
research design was Systems
oriented present
towards intheSavings and Credit causal
non-experimental Cooperatives in the and
correlational city the
of
Barranquilla
population was in constituted
the 4.0 era.byThe research and
the savings design
creditwas oriented towards
cooperatives belongingthetonon-experimental causal correlational
the city of Barranquilla, and the
which were selected
population was random
through simple constituted by the savings
probability samplingandto credit cooperatives
then apply belonging
the primary to thecollection
information city of Barranquilla, which were
instrument through selected
a Likert style
through simpletypes
survey. These random probability sampling
of organizations immersedtointhen
the apply the primary
Colombian information
third sector collection
generally lack costinstrument through
systems that a Likert
provide them style
with
survey. These tools
the necessary typestoofsupport
organizations immersed in the
the decision-making Colombian
process third
executed bysector generally lackbodies
the administrative cost systems
immersed thatinprovide themaswith
them, such the
the necessary
General tools the
Assembly, to support
Board of theDirectors,
decision-making process executed
the Management, by the administrative
the Accounting Department, andbodies immersedAuditor's
the Statutory in them, Office.
such asThe
the
General Assembly,
savings and credit the Board of Directors,
cooperatives in the citytheofManagement,
Barranquilla the Accounting
have Department,
very archaic andsystems
accounting the Statutory
relatedAuditor's Office.
to the costs of The
the
savings and
products and credit
servicescooperatives
rendered tointhe thesociety,
city ofwhich
Barranquilla havedifficulties
have great very archaic accounting
at the systems
time of basing therelated
financialto decision
the costsmaking
of the
products and services rendered to the society, which have great difficulties at the time of basing the financial decision making
process.
process.
© 2023 The Authors. Published by Elsevier B.V.
© 2023
© 2023 The
The Authors.
Authors. Published by by Elsevier B.V.
This is an open accessPublished
article under Elsevier
the CC B.V.
BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0)
This is an
Peer-reviewopen
under access article under
responsibility of the
the CC BY-NC-ND
Conference Programlicense (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Chairs.
Peer-review under responsibility of the scientific committee of the Conference Program Chair
Peer-review under responsibility of the Conference Program Chairs.
Keywords: ABC cost; costing systems; industry 4.0; Credit Unions
Keywords: ABC cost; costing systems; industry 4.0; Credit Unions
* Corresponding author. Tel.: +57 301 4018149

* Corresponding
E-mail address:author. Tel.: +57 301 4018149
enavarro3@cuc.edu.co
E-mail address: enavarro3@cuc.edu.co
1877-0509 © 2023 The Authors. Published by Elsevier B.V.
This is an open
1877-0509 © 2023
access
Thearticle
Authors.
under
Published
the CC BY-NC-ND
by Elsevier B.V.
license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Peer-review
This is an open
under
access
responsibility
article under
of the CC
Conference
BY-NC-NDProgram
license
Chairs.
(http://creativecommons.org/licenses/by-nc-nd/4.0/)
Peer-review under responsibility of the Conference Program Chairs.
1877-0509 © 2023 The Authors. Published by Elsevier B.V.

This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0)
Peer-review under responsibility of the scientific committee of the Conference Program Chair
10.1016/j.procs.2023.09.012
Evaristo Navarro et al. / Procedia Computer Science 224 (2023) 68–74 69
2 Author name / Procedia Computer Science 00 (2018) 000–000
1. Introduction
Colombian credit and savings cooperatives have an important participation in the generation of activities focused
on worker and independent cooperative movement; where the participation in terms of assets of the cooperatives
immersed in the savings and credit subsector was representative in terms of cooperative movement at the national
level with 12.67%; in terms of assets the intervention was 22.51% and in terms of the number of members and
employees they participated with 22.17% and 4.60% respectively for the previous decade [1].
These institutions have a key role in the development of Colombian society, since they allow the development of
strategies and tools that allow people to be part of the financial system and thus take advantage of the benefits that
this can bring, such as the acquisition of credit products such as loans. home or study, improving their quality of life
and professional or family growth through a savings plan [2, 3] In this sense, it is important to recognize that these
types of entities, like other sectors of the economy in the world, have experienced an important process of change in
recent years resulting from the strengthening of the use of new technologies as key pillars of the structures of the
modern economy; where it is increasingly observed how hybrid work, data management and digital and
technological infrastructure are the value product with the greatest impact for organizations [4, 5].
In the case of entities in charge of providing a product or service such as Credit Unions, there is an important
dynamization in the process of customer service and users, who supported by communication and information
technologies have the possibility of being part of the recruitment and retention strategies established by this type of
entities [6]. However, the implementation of new technologies should not only lie in the exercise of governance of
people or in the development of interaction with customers, but also requires an adaptation of the practices and
processes carried out throughout the organization within the environments generated from the available
technologies. [7]. It is certainly to understand how the financial area should also be permeated by current
technological development, taking advantage of its benefits for the creation of value and transparency [8].
According to Montes & Marín (2020), the fourth industrial revolution or era 4.0 brings a significant impact on the
accounting profession in Colombia, which is mostly positive; however, professionals with the ability to innovate and
adapt to changes and to the creation of new programs and forms that are useful when increasing the efficiency of
their work and that allow them to develop business models that provide added value to the service they offer are
needed to their clients [9]. However, many of the organizations are managed under traditional structures that are not
effectively adapted to the new technologies for the streamlining of financial processes. Based on this, the present
study is aimed at characterizing the Cost Systems present in Savings and Credit Cooperatives in the city of
Barranquilla in the 4.0 era.
This studio is developed in three moments; the first directed to the methodological tools used in the fieldwork
with the savings and credit cooperatives belonging to the city of Barranquilla, followed by the results where it is
shown through descriptive statistics the real situation of these institutions with respect to the use of ABC cost
systems based on technological tools and finally the discussion of the findings where the evidence found is
contrasted with the existing state of the art regarding the area.
2. State of art
When carrying out a review of the implementation of cost systems in the 4.0 era, authors such as Quesada and
Silva can be mentioned, who carry out a documentary observation study based on the use of ABC cost systems as an
innovation tool within organizations. currently, which allows demonstrating the relevance of applying said cost
system [10]. In turn, Alsayegh who addresses a process of implementation analysis and criticism of the ABC cost
system around the world, being able to show that this system has some very important powers when it comes to
improving costing processes within companies, but presents different difficulties of its applicability due to the
technological needs that are required for its use at the corporate level, as well as when adapting the personnel to its
use and understanding as an alternative method to the traditional ones [11].
Other studies, such as the one by Pietrzak, Wnuk-Pel and Christauskas, associate the difficulties of implementing
ABC cost software with the absence of robust software within various markets, or the presence of software that is
70 Evaristo Navarro et al. / Procedia Computer Science 224 (2023) 68–74
Author name / Procedia Computer Science 00 (2018) 000–000 3
inappropriate for various industries; Therefore, many times a development process is required directly to the needs
of the organization, increasing implementation costs [12].
3. Materials and method
The research design was oriented towards the non-experimental causal correlational and the population was
constituted by the savings and credit cooperatives belonging to the city of Barranquilla, which were selected through
simple random probability sampling to then apply the primary information collection instrument through a Likert
style survey. The questionnaire has a total of 6 items related to the implementation of ABC cost systems supported
by technological tools within Credit Unions to a total of 80 savings and credit cooperative workers located in the
city of Barranquilla. The statistical processing used is carried out in the SPSS software, in which indicators such as
frequency and percentage are proposed to study the findings obtained.
4. Results
To begin the section on the results of this study, it must be understood that one of the elementary functions of the
information provided by the accounting department regarding the costs of the service is to know if these are
proportional to the income received by the organization in digital platforms, on occasion to make the pertinent
decisions in each specific situation; Regarding the cooperatives studied, 86.3% believe that the costs generated in
the cooperative's operational period are proportional to the levels of operational income, against 12.5% who stated
that they disagreed with the statement made. . Finally, 1.3% abstained from issuing any opinion:
Table 1. The costs generated in the operational period of the cooperative are proportional to the levels of operational income through digital tools
Ranks Frecuency Percentage Valid percentage Accumulated percentage
Strongly disagree 4 5,0 5,0 5,0
In disagreement 6 7,5 7,5 12,5
Indifferent 1 1,3 1,3 13,8
Valid
Agreed 40 50,0 50,0 63,7
Totally agree 29 36,3 36,3 100,0
Total 80 100,0 100,0
Table 2 indicates whether there is a systematic digital method to calculate the cost of the services provided by the
cooperatives studied. In particular, 70% of the surveyed sample indicated that, in solidarity organizations that
perform accounting functions, the evaluation of the processes carried out to estimate the cost of the services
provided was the result of the execution of the established procedures. Through managerial and accounting systems,
as part of an integrated strategy in the Accounting Department of the Institute, in the generation of relevant, useful
and pertinent information. On the other hand, 20% of the officials participating in the data collection affirm that
their cooperatives do not implement accumulated cost procedures aimed at generating relevant information for
decision-making. It should be noted that 10% of the samples to which the primary information collection tool was
applied were indifferent to the statement.
Table 2. The cost of processes, services and products are assigned through a systematic digitized procedure of an administrative and accounting
nature in which the necessary and pertinent information is identified.
Ranks Frecuency Percentage Valid Percentage Accumulated Percentage
Indifferent 8 10,0 10,0 30,0
Valid 36 45,0 45,0 75,0
Agreed
Totally agree 20 25,0 25,0 100,0
Total 80 100,0 100,0
In the following paragraphs, we will proceed to identify the traditional cost systems that are being used in digital
platforms by the savings and credit cooperatives belonging to the city of Barranquilla, taking as reference the
historical cost system, standard cost system, system of costs for production orders, cost system for process, as the
most accepted in the business field, responding efficiently to the characteristics of the operations immersed in the
organizations present today.
In this sense, 62.5% of the officials of the accounting department belonging to the cooperatives, consider that the
procedure used to obtain the necessary and obligatory expenditures to develop the corporate purpose of the
organization, is characterized by using databases of measurement through real costs of the service after it has been
provided, a fundamental characteristic of the historical cost system; on the other hand, 31.3% of those surveyed
consider that the cost system used in the cooperative does not identify with these aspects, it can be pointed out that
6.3% of those surveyed are indifferent to the statement.
Table 3. The main characteristic of the digital cost system used in the cooperative is represented in that the measurement base uses the
obtaining of the real costs of the service after it has been provided.
Valid 30 37,5 37,5 75,0
Agreed
Totally agree 20 25,0 25,0 100,0
Total 80 100,0 100,0
The second characteristic cost system of the cooperatives that carry out financial activities in the city of
Barranquilla has as its main characteristic, obtaining the costs of services, processes and products in advance of the
beginning of the productive period based on statistical studies, due to that 31.3% of those surveyed stated that the
institution's digital cost system is based on these basic principles; On the other hand, 62.5% of the officials surveyed
stated that they disagreed with the statement made. Finally, 6.3% of the sample studied was indifferent.
Table 4. The essential foundation of the digital cost system used in the cooperative is represented in the calculation of the cost of the services
provided in advance of the beginning of the productive period, based on statistical studies previously carried out by suitable professionals.
Valid 15 18,8 18,8 87,5
Agreed
Totally agree 10 12,5 12,5 100,0
Total 80 100,0 100,0
Within the traditional cost systems, there is one that is characterized by using specific orders according to the
needs of the external agents of the organization, in this sense, the surveyed agents considered that the digital tools
used by the institution oriented to the calculation cost, is not characterized by presenting these dynamics (93.8%); on
the other hand, 6.2% of the study sample did not issue any opinion.
Table 5. The unit costs of the services provided by the cooperative are determined through specific orders taking as reference the individual needs
of the associates with digital tools.
Valid 0 0 0 100,0
Agreed
Totally agree 0 0 0 100,0
Total 80 100,0 100,0
The segregation of the organization by departments or functional areas is the main characteristic of the process
cost system, due to the accumulation of costs in each of the processes that are necessary to transform the raw
material into a finished product. For 88.8% of the officials belonging to the functional areas related to the treatment
of accounting information, the solidarity institution does not use this methodology to assign costs to the processes,
services and products characteristic of the entity's corporate purpose; Finally, 11.2% of the agents surveyed took a
neutral position.
Table 6. The cooperative is segregated by processes or departments and the costs are accumulated on each of them based on a unit of time,
moving from process to process until its completion.
Indifferent 9 11,3 11,3 100,0
Valid 0 0 0 100,0
Agreed
Totally agree 0 0 0 100,0
Total 80 100,0 100,0
After applying the tool, the cooperatives with financial activities in the city of Barranquilla will use a digital
management tool to calculate the costs of their services, processes and products, using systematic procedures for this
purpose. It has an accounting and management nature and allows an organization to develop management strategies
for the services and products it provides to the company.
Among the methods intended to calculate the necessary and mandatory costs in the cooperatives under study is
the cost system, which uses as a basis for evaluation the value of the costs associated with production, which based
on digital tools can be agile, precise and transparent. On the other hand, the standard cost system, understood as the
use of statistical surveys to predetermine the costs of processes, services and products, has been presented as a
management tool for Barranquilla cooperatives with low participation rates.
4. Discussion and conclusion
This type of organizations immersed in the Colombian third sector, generally lack cost systems that provide them
with the necessary tools to support the decision-making process executed by the administrative levels immersed in
them, such as the General Assembly, the Board Board of Directors, Management, the Accounting Department and
the Statutory Audit area.
On the other hand, the cooperative organizations that carry out financial activities as a large part of their
corporate purpose in the city of Barranquilla are characterized by having cost accumulation systems for the
processes and procedures necessary to carry out the characteristic activities of the institution, under the
methodologies brought by the traditional cost systems of historical and predetermined bases; However, the results
showed that a certain group of cooperative institutions consider that it is not necessary to accumulate costs through a
systematic process, so they refer to the allocation of the necessary and mandatory expenditures directly to the results
of the exercise.
In this sense, it is observed how industry 4.0 generates a process of extremely rapid change within this type of
organizations, which begin to take advantage of the new technologies available to expand their infrastructure, from a
physical and digital vision [13]; which allows the optimization of processes and the transparency of being able to
count on the availability of information in computer systems that can evolve with the same organizational structure
and services provided. Certainly, the entry of 4.0 requires an adequate convergence between the innovative and
dynamic processes with the new technologies, so that in both cases the faculties and benefits that each one can bring
are taken advantage of, especially for the cost process which is considered as the pillar of the financial structure of
organizations [14]
Acknowledgements
The authors pleased the Universidad de la Costa and the Universidad del Atlántico, which allowed the
correct development of this study, in turn to the cooperatives participating in the field process.
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The 18th International Conference on Future Networks and Communications (FNC)

* Corresponding author. Tel.: +57 301 4018149

1877-0509 © 2023 The Authors. Published by Elsevier B.V.

3. Materials and method

4. Discussion and conclusion

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