Business news from Ukraine

“Prozorro.Sale is among the top 6 global projects for digitalization of asset management

6 December , 2023  

ProZorro.Sale JSC became a finalist for the IAM Asset Management Excellence Awards 2023 and was named one of the world’s six best projects working with the digitalization of asset management, it was announced during the annual official award ceremony held by The Institute of Asset Management (IAM) in London on December 4.

As noted in the release of the state-owned company on Tuesday, the finalist organizations demonstrated the application of the best principles and approaches in asset management, adapted to digitalization trends, and their projects were a response to business and consumer requests.

The IAM is an international non-profit organization that has been bringing together asset management professionals since 1994. The Institute recognizes projects and innovative achievements in asset management in the face of modern challenges. The IAM Asset Management Excellence Awards annually honor projects around the world that innovate in asset management in the face of modern challenges.

It is specified that Prozorro.Sale JSC, which administers the state electronic trading system, which hosts online auctions for the sale of public assets, reached the final in the Digital Innovation category. In the final in this category, ProZorro.Sale competed with projects and companies from Spain and the United Kingdom. The winner in this category was a project to improve the efficiency of asset management by Transport Scotland.

“More than seven years ago, with the launch of public online auctions in the Prozorro.Sale electronic trading system, the state began to change the approaches and principles of public asset management. During this time, transparent and open e-auctions have become an effective tool for the state and communities, which have already brought more than UAH 80 billion to the budgets of various levels, and opened up opportunities for businesses to obtain resources for development, including during martial law,” commented First Vice Prime Minister Yulia Svyrydenko.

According to her, the inclusion of the Ukrainian IT solution – the state electronic trading system Prozorro.Sales – in the world’s best in the Digital Innovation category of the prestigious IAM Asset Management Excellence Awards is evidence that it is impossible to achieve results in asset management without digitalization.

“Being among the top 6 best projects in the world is a great responsibility for us, for the entire ProZorro.Sale ecosystem, which includes both ProZorro.Sale JSC and platforms, organizers and bidders. Amid the war, we are more than ever determined to continue working on improving the system and increasing the efficiency and transparency of asset sales in even more markets,” said Serhii But, CEO of ProZorro.Sale.

The company reminded that in 2022, the state electronic trading system ProZorro.Sale was recognized as the best public service by the most prestigious UN Public Service Awards. The administrator of the system, Prozorro.Sale JSC, guarantees the security of electronic auctions, the impossibility of interference in their course and equal access of each participant to participate in the auction, the release emphasizes.

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