Financial Management Strategies and Challenges in Malaysian Educational Institutions: A Systematic Review of Educational Technology Integration

The integration of educational technology in Malaysian educational institutions presents significant challenges and opportunities in financial management. This systematic literature review aims to explore the financial management practices adopted by these institutions during the implementation of educational technology, focusing on challenges, effectiveness, and opportunities for optimization. Following the PICOS framework, the review considers educational institutions in Malaysia (Population), the implementation of educational technology (Intervention), comparisons of financial practices before and after technology adoption (Comparison), and the outcomes related to financial effectiveness and sustainability (Outcomes). The study design includes empirical research, case studies, and reviews. Using a comprehensive search strategy across multiple academic databases, the inclusion of studies is guided by PRISMA, ensuring only relevant and high-quality studies are selected. Data extraction and analysis are conducted using SPAR-4-SLR standards to ensure a thorough and systematic synthesis of findings. The review identifies prevalent financial strategies, including budgeting and funding practices, and examines challenges such as financial risks and cost overruns. The impact of educational technology on financial performance, including operational costs and return on investment, is analysed. Additionally, best practices for optimizing financial management, such as strategic financial planning and collaborative funding models, are highlighted. This review provides critical insights into the intersection of financial management and educational technology in Malaysia, offering valuable recommendations for policymakers and educational leaders. The findings underscore the importance of strategic financial management in ensuring the successful and sustainable integration of educational technology, while also identifying areas for future research to address remaining gaps in the literature.