E-Procurement

The business-to-business or business-to-consumer purchase and sale of supplies and services over the Internet.

What is E-Procurement?

E-Procurement, short for electronic procurement, is the process of purchasing goods and services through online platforms or electronic systems rather than traditional methods. This digital approach streamlines and automates the procurement process, making it more efficient, cost-effective, and transparent for both buyers and suppliers. By using e-procurement systems, organizations can easily create and manage requests for proposals, issue purchase orders, track deliveries, and handle invoicing and payments online. This technology helps in improving communication between buyers and suppliers, reducing paperwork and manual errors, and providing real-time visibility into the entire procurement process. Overall, e-procurement enables organizations to optimize their procurement operations, achieve better supplier relationships, and gain insights to make more informed purchasing decisions.