Research On Optimization Of Accounts Receivable Management Of KL Petroleum Technical Service Limited Company

As an important part of current assets,management level of company’s Accounts receivable directly impact on the situation of capital turnover.In the petroleum technical service industry,drilling project has some characteristics,such as large investment,long cycle and selling on credit,which bring about that the company in this industry have a large demand for working capital,so timely recovery of accounts receivable is more related to company survival.Based on the theory of accounts receivable management,the paper takes KL Petroleum Technical Service Company as the research object.According to the status quo of the company’s accounts receivable staying at a high level and its extensive management,and focusing on the use of data comparative analysis methods and questionnaire survey methods,the paper analyzes the current situation and problems of accounts receivable management in KL Company.It is drawn a conclusion that the company put emphasis on after-management of accounts receivable,but not pay attention to the credit management to prevent and control risks,as well as supervision of accounts receivable is not enough.And then based on those management problems,the paper designs optimization program of accounts receivables management,that is,the establishment of comprehensive credit management system and accounts receivable dynamic monitoring mechanism.The purpose of designing this optimized program is to improve the turnover rate of accounts receivable,reduce the risk of bad debt and improve credit management.Finally,from two aspects which are assessment of the quality of accounts receivable and performance evaluation of credit management,the validity of the effect of the program is evaluated and the conclusion is drawn.This paper focuses on the introduction of credit management to the KL Company’s accounts receivable management system which obtains preliminary practice and test in the company.The effectiveness of the program is proved.It is not only systematically improved the management of accounts receivable in KL company,such as increasing turnover rate of accounts receivable,remitting pressure of funds’ shortage,but also provided the thinking and methods to improve the accounts receivable management level for the similar company in the same industry.