Innovative Financial Methods for Optimising the Solvency of Accounts Receivable and Their Impact on The Efficiency of a Company’s Operations

Abstract

Timely optimisation of accounts receivable is important for the development of business and the overall economy, because it actively contributes to reducing the “frozen” debt funds, reducing the need for additional sources of financing, and, accordingly, increases the company’s liquidity, which, in turn, improves its reputation as a reliable partner. Due to the imperfection of the financial system and the unpopularity of modern debt optimisation measures at Ukrainian enterprises, it is particularly relevant to analyse the real problems of forming accounts receivable and investigate promising areas for its reduction. The purpose of the study is to consider and test innovative financial methods for optimising counterparty debt to the enterprise in Ukraine, including factoring and insurance of accounts receivable. The practical significance of the study is as follows: based on the analysis of the current state of accounts receivable, the use of factoring services for its optimisation is proposed; using the modelling method, key forecast indicators of liquidity at the enterprise under study are determined, the areas of insurance of accounts receivable are formed, the effectiveness of the proposed measures is substantiated. The study summarises the theoretical foundations of optimising accounts receivable in the system of ensuring the efficiency of an enterprise. The analysis of the financial and economic state of the business is carried out. The analytical support of a system of indicators and assessment of the quality of accounts receivable generation is investigated. Forecasting and optimisation of the level of accounts receivable based on innovative financial methods was performed to ensure effective business operations. Ways to improve the management of accounts receivable of the enterprise are provided. The positive impact of measures on the efficiency of the enterprise based on financial indicators – liquidity and turnover ratios – is proved. The problems of widespread use of the proposed methodology are indicated, and suggestions for solving these problems are given. The practical significance of the results obtained lies in the applied orientation of innovative financial methods described in the paper, the use of which will improve the process of optimising accounts receivable at the enterprise level, improve the process of managing accounts receivable, increase the level of liquidity and profitability of the business. The materials of the study would be useful for researchers who deal with the management and optimisation of accounts receivable, and can be comprehensively used in the business activities of “Energo Zbut Trans” LLC.