Credit Risk Management: Strategic Approaches To Accounts Receivable In Public Companies

Abstract

The article examines strategic approaches to credit risk management related to accounts receivable in public companies. It analyses the theoretical foundations of credit risk, its role in working capital management, and the main methods for assessing clients’ creditworthiness. Key tools such as credit policy, factoring, receivables insurance, and the implementation of ERP systems are presented. Particular attention is given to international and European standards for credit risk management, as well as to practical challenges within the Bulgarian context. Based on the analysis, it is concluded that credit risk management should be perceived as a strategic function requiring a comprehensive and integrated approach that combines technology, expertise, and organizational commitment.