Digital technologies of financial support of the social sphere

Abstract

Relevance of the research topic. In the age of information and communication technologies, taking into account the priorities of digitalization is a prerequisite for economic growth and improving the quality of life. Digital technologies are gradually penetrating all spheres of life, the activities of public and local authorities, stimulating the development of digital society and building a service state. The desire to European standards in institutions of social service, financial stability of the social protection system, increasing its transparency and optimizing of administrative expenditures necessitate a digital transformation of the social sphere, which involves the introduction of innovative technologies, retroconversion and a single information environment of social support and management of financial resources in specific sphere. Formulation of the problem. The intensification of digital transformation affects and system transformation, mobilization and use of financial resources for meeting ever-growing needs of the social sphere, opening new opportunities in strengthening its financial capacity and solving social problems. Along with the expansion of sources of financial support for the social sphere through the rational combination and use of public, private, individual, socially voluntary (charity, grants, donations) support for the population, there is a growing focus on digital technology in all its components. These processes require development and implementation significant numbers of measures and programs for implementing of latest information channels, which give threats of the using progressive mechanisms in organization and regulation of financial relations. Analysis of recent research and publications. Problems of digital transformation in social sphere and its financial support are considered in the works of domestic and foreign scientists and practitioners: G. Anderson, S. Volosovych, S. Kachula, G. Kulina, L. Lysyak, A. Mazaraki, N. Nalukova, I. Chugunova and others. Highlighting unexplored parts of a common problem. The article considers digital technologies in financial support of social sphere. Progressive mechanisms which attracting financial resources to ensure implementation of social initiatives have been identified. The application of innovative financial technologies forfund accumulation is substantiated: fundraising, crowdsourcing, crowdfunding. Swot-analysis of digital technologies of financial support of the social sphere is carried out. Goal setting, research goals. The research objectives are: to consider feasibility using digital technologies for financial support of the social sphere; to define perspective methods of attraction of means in social sphere in the conditions of digital transformation in social development; identifying advantages, opportunities, disadvantages and threats of for using digital technologies in financial support of the social sphere.The purpose of research is identifying and justifying progressive mechanisms in accumulating and using financial resources for the accelerating development of the social sphere. Research method or methodology. The article uses a research method set: system approaches, statistical analysis, structuring, swot-analysis, synthesis, induction, deduction and others. Basic material presentation (results of work). The article considers digital technologies in financial support of the social sphere. Progressive mechanisms for attracting financial resources to ensure implementation of social initiatives have been identified. The using of innovative financial technologies forfund accumulation is substantiated: fundraising, crowdsourcing, crowdfunding. Swot-analysis of the application in digital technologies for financial support of the social sphere was conducted. Area of application of results. The results of the research can be used in the process of activating digital transformation in financial relations, formatting and using financial resources to ensure efficiency and effectiveness of the social sphere. Conclusions according to article. Digital technologies in financial support of social sphere create a set of advantages and opportunities for all participants. The using of innovation means interaction between different participants in social relations contributes to the development of an inclusive approach for generating of economic growth, which involves formatting of opportunities for maximum consideration of the interests and needs of the most vulnerable. Access to the process of managing financial resources in the social sphere on the basis increasing the level of transparency, empowerment and human rights is importance. At the same time, the spread of technological innovations poses certain threats and shortcomings, primarily related to layoffs, cybercrime and breaches of confidentiality. Implication of achievements in digital technologies determines institutional transformations in finance of population social protection, as a result which modern social institutions should be formed and help restore positive dynamics of economic and social growth.