Electronic Wholesale Services: Advantages and Promising Directions of Development
Electronic Wholesale Services: Advantages and Promising Directions of Development

Summary/Abstract: The relevance of the topic is that in the modern world financial services are developing most intensively in the field of electronic payments. With the development of digitalization of sales, services and even settlements between individuals, the old mechanisms do not provide the necessary convenience and speed for customers. Therefore, active development is taking place in the field of circulation of bank cards, payments from card to card (quick payments), electronic money, acquiring of various types. It is these aspects of the development of financial services that are considered in this article. The development of such financial services is relevant for Ukraine, which has significant potential in the development of innovations and their perception by the population and business. The purpose of the article is to analyze the development of the financial services market in Ukraine, identifying problems and prospects for the development of this market. The main results of the study: currently, the development of the financial market is closely connected with the development of financial technologies (FinTech) of financial organizations. Innovative solutions in this area allowed such banks in Ukraine as PrivatBank or FUIB to significantly increase their liabilities, assets and income. Further, the development of the financial services market should be associated with stimulation by the state of the development of non-cash payments, payment infrastructure (especially in regions where it is not yet developed enough). Prospects for further research are related to further study of the development of financial technologies in the financial sector, operations with bank cards and electronic money in Ukraine. The applied value of the material lies in determining the directions of development of financial operations, financial services for customers and financial products, primarily in Ukrainian banks.It has been demonstrated in the presented study that the use of services plays a key role in the formation of a new type of the competitive economy based on the information technology and involves the innovation of mutually beneficial commercial interactions. Qualitative and quantitative changes in the content, forms, and mechanism of the workflow management have been investigated in the aspect of the main trends in the development of the monetary relations. The search for the modern business technology predetermined the development of the electronic wholesale market and the possibility to improve the convenience of the service of doing business. The subjects of this sector of commodity circulation confirm the efficiency of the formation of economic relations in the segment of online trade services and the prospects of the electronic business.The analysis of the electronic market trade workflow allowed to establish the main trends in its development, to identify the specifics of partnerships, their establishment, and the online implementation of trade procedures through the electronic document workflow.As a result of the study, the authors have established the reasons for the increase in the number of participants of electronic marketplaces, changes in the commodity structure in the corporate procurement sector, the mechanism for reducing purchase prices through electronic auction, and the possibility of optimizing costs and increasing the efficiency of managerial processes in the organization by improving the service automation of business selling processes in a competitive environment.Based on the comparison of the number of auctions conducted and the amount of deals concluded, it has been noted that the largest number of auctions were held in consumer goods, where the average deal value was the least, while the deals of the highest value were in the provision of services, with the lowest proportion of the conducted auctions.The authors of the study have analyzed potential commercial and technological risks and identified the main fraudulent schemes in electronic commerce and measures aimed at preventing or eliminating certain risk factors and conditions of uncertainty of the result.Based on the opinions of the experts, the promising directions for developing the electronic market and electronic wholesale services have been noted in the study, which can be achieved through the creation of independent electronic trading platforms by large industrial corporations, as well as through the use of the information and communication network functions in the internal corporate interaction in large holdings. Combining the capabilities of the marketplaces of the corporate and public procurement sectors and launching a joint service for electronic trading while maintaining established business processes will improve the efficiency of the commercial activities of participating organizations.

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