Abstract
Effective management of the company's receivables allows to optimize usage of the company's resources, in particular, cash flows. Effective management of the company's receivables stimulates attracting new customers, supporting business processes as well as avoiding formation of overdue debts and reducing risk of insolvency, which will ensure financial stability and company’s competitiveness. At the same time increasing repayment period of receivables causes debt growth, which can lead to the shortage of cash; worses the structure of current assets, and leads to attracting additional funds to finance operational activities. The system of analysis and management of receivables includes constant monitoring of some parameters, among them: the period of turnover, analysis of debtors according to various characteristics, monitoring of the obligations fulfillment, system of reservation of doubtful debts, system of measures against dishonest buyers. Thus after analyzing receivables, it is important to determine ways of their managing, which includes five directions. Among them: determining conditions for credit while selling goods, guarantees for the loan is granted; reliability of the buyer; the amount of credit to each buyer, which depends on the risk level, solvency and credit history; policy of repayment, in particular using factoring schemes. Factoring is widely used in countries with the developed market economy, while its usage in Ukraine is not so widespread. However, nowadays it is one of the few banking products aimed at real support and development of entrepreneurship. In general, credit policy should take into consideration: company’s strategic goals (growth in sales, maximization of profit, increasing of business activity; practice of granting loans to enterprises; distribution channels.
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