DX Corporation Accounts Receivable Management Improvement Research

As the foundation and core of global economic digitalization,artificial intelligence,5G communications and quantum computing,the semiconductor industry is a strategic,fundamental and pioneering industry that has a bearing on national economic and social development.Influenced by the strong demand for semiconductor products worldwide,China’s IC industry continues to maintain a steady growth trend.According to the China semiconductor industry association statistics,during the period from January to June2021,The sales revenue of China’s integrated circuit industry is nearly 410 billion yuan,up 15.9% from a year earlier.As an important way of competition in the company,the resulting accounts receivable are particularly important in the operation and management of enterprises,with the continuous expansion of sales scale,the scale of accounts receivable has also gradually increased.The domestic semiconductor industry in China based on supply chain service provider DX company as an example,with the rapid development of semiconductor industry,DX company business rapid expansion in recent years,the sales revenue for explosive growth,at the same time accounts receivable increase sharply,and accounts receivable increase speed is much higher than the sales income increased speed,DX company accounts receivable accounts for than current assets proportion rising,By the end of the third quarter of 2021,the book balance of accounts receivable of DX Company reached 95.53 million yuan,and accounts receivable accounted for 59% of current assets,far higher than the industry average.Most of the current assets are occupied by receivables,which makes the fund recovery cycle of DX Company longer and longer.As a result,DX Company faces great pressure of capital turnover and may have the risk of cash flow shortage.In addition,a large number of receivables occupy the financing cost of the enterprise,making the financial expenses rise.The main reason is that the accounts receivable management system of DX Company is not sound enough and there is a lack of effective management and control of accounts receivable in the operation and management process.With the rapid development of the business scale of DX Company,a complete and sound accounts receivable management system is urgently needed to improve the operation efficiency and prevent risks.By expounding the current situation of accounts receivable management of DX Company,analyzing and finding the main problems and reasons existing in the process of accounts receivable management of DX Company,a reasonable and effective management improvement plan is proposed in a targeted manner,that is,around the perspective of the whole process of accounts receivable management,it is discussed in terms of pre-management work,in-process management work,and post-event management work.Prior management involves the establishment of risk control departments,the establishment of risk control committees,the determination of credit granting principles,the formulation of customer credit assessment standards,and the standardization of credit approval processes and responsibilities;the management involves writing agreements through the signing of sales framework agreements or sales order reconciliation period conditions and other key terms,identification of risk warning signals,setting process risk early warning monitoring indicators,implementation of reconciliation procedures and process collection measures;post-event management involves formulating overdue accounts receivable management policies and collection strategies,and improving the performance appraisal system of accounts receivable.Purchase accounts receivable insurance or factoring to transfer risk.By improving the management of accounts receivable in advance,during the management,and after the management,etc.,in order to establish and improve the accounts receivable management plan for DX Company,prevent credit risks,and better achieve the company’s operation and management objectives.