ANALYSIS OF FINANCIAL RELATIONS OF BUSINESS ENTITIES IN RESPECT OF THEIR ELECTRONIC INTERACTION

The article is devoted to the analysis of the peculiarities of the impact of digital technologies on the transformation of financial relations of economic entities in terms of their electronic interaction. The term «electronic interaction» is used to denote communication using information and computer technology (ICT) between different actors. We distinguish four types of financial relations in the space of their electronic interaction: business entity-state (BE2S), business entity-business (BE2B), business entity-financial institutions (BE2FI) and business entity-individuals (BE2I). Financial relations in the BE2S sector are relations between public authorities in the form of tax, customs, law enforcement, antitrust, securities market authorities, federal, regional and local authorities and economic entities on the other hand. The peculiarity of electronic interaction in the field of BE2S is that it takes place within the framework of e-government (e-government). Since the peculiarity of the interaction of BE2B is that it takes place in the framework of e-commerce, this also includes the financial relationship between businesses and consumers to purchase a product or service. The sphere of interaction of BE2FI envisages financial relations between economic entities and financial market entities and is reflected in the emergence of new forms and elements of the country's financial infrastructure, in particular, virtual banks, financial and technical companies, international electronic money systems, etc. The peculiarity of BE2I financial relations from the point of view of electronic interaction is that they take place with the help of various internal information systems. Digital technologies in the field of financial relations allow them to be transformed without the need for large investments. Digital technologies can reduce the cost of financial transactions by 80–90 percent, transforming the business of service providers and making it more accessible to insolvent consumers. However, companies are not yet fully exploiting the potential of digital technology.