IMPROVING RECEIVABLES MANAGEMENT OF THE ENTERPRISE IN THE CONTEXT OF NEW CHALLENGING MARKET CONDITIONS

The article analyzes methods and measures of improving the enterprise’s receivables management. Under new challenging market conditions, the formation of an effective receivables management system directly affects the stable and efficient enterprise’s activities. The authors found out that receivables have positive and negative influence on enterprise’s activities, among positive ones there are stimulating sales growth, establishing stable and long-term contacts with customer, forming competitive product range and others. The negative influence of receivables on enterprise’s activities is due to the following factors: withdrawing funds from turnover, extra-expenses for managing receivables; the risk of non-return, losses caused by inflation and decrease in profit.

The expediency of applying not only quantitative but also qualitative analysis of indicators of estimating receivables current state for improving financial condition is substantiated. It is proposed the schematic sequence of the receivable analysis process which includes 5 stages divided according to the set tasks with methods and measures of their decisions.

Applying the qualitative method of ABC and XYZ analysis, the authors arrange group of goods and services that cause receivables of Komunpostach LLC according to the main clients. Assortment groups of products with the highest, medium and low shares of receivables are classified into A, B, C groups, within which strategically important customers, customers who use services seasonally, and small customers who irregularly use services of Komunpostach LLC with poor forecasting accuracy are singled out. Having combined АВС- and XYZ-analysis, the matrix of nine groups of debtors is also formed that requires the development of its managing techniques in terms of receivables share in its total amount at the enterprise, as well as the accuracy of forecasting its dynamics.

As a result, the main measures for the effective receivables management are identified, among them: rating of customer creditworthiness; determining the criteria and peculiarities for granting a commodity loan, and also types of goods and offered services that are most likely to be owed; planning measures of receivables optimizing; establishing interdependence of the staff motivation system and the receivables value, and also outcome-based motivation principles; applying other current methods of managing receivables, such as factoring, financial risks insurance, using payment in promissory notes, etc. These measures will facilitate reducing the risk level of not receiving funds from enterprise’s debtors and will directly increase the level of its production and economic activities profitability.