Digitalization of receivables management

Abstract

© 2019, Research Trend. All rights reserved. This article describes the ability to manage the company's receivables using modern software products. We carried out the research of receivables and its place in the structure of the company's assets. The main target of receivables management is determined as optimizing of its level but not reducing. In this study, we have analyzed the mechanism and different methods applying in this sphere, each of that is a combination of various tools, taking the form of IT-decisions. This article includes an empirical comparative analysis of several modern digital solutions that increase the efficiency of receivables management such as: MS Excel, Directum Prestima, Credit to cash, 1C, SAP S/4HANA Finance. The results lead to the conclusion that automated software products are able to upgrade the classic mechanism of receivables management. Nevertheless, company administration must properly identify the necessary requirements for the automated information system before its buying and implementing.