What is eProcurement & What Are the Benefits? E-procurement (electronic procurement, sometimes also known as supplier exchange) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems. An E-procurement system provides software tools that allow procurement staff to get more done in less time. Like all transformative technologies, E-Procurement has its share of associated pros and cons. Building a thorough understanding of the benefits offered by E-Procurement solutions can help you identify and implement the software tools best suited to meeting your goals for cost savings and continuous improvement in all your business processes. Money-Saving As you prevent duplicate spending, leveraging volume buying, and save costs associated with paper-based systems (for example, the cost of stamps to mail your paperwork), this surely is a fair deal for your pocket and your business. Analyze easy Conducting your procurement electronically makes it easier to write and analyze reports thereby ensuring that your procurement procedures conform to your policies.
Good Productivity Traditional procurement was time-consuming. Once you’ve learned the system, eprocurement, and have your records stored electronically, it makes it easier to submit reusable tenders. Paperwork Elimination