E-Procurement

 

E-Procurement, also known as electronic procurement or supplier exchange, is the purchase and sale of supplies, equipment, works and services through a web interface or other networked system. 

Need for E-Procurement 

• Improve spending transparency and reduce costs Using digital procurement technology enables you to arrange spending across suppliers and track everything in one central location. 
•  Since e-procurement technology solutions can automate many internal processes, including supplier evaluation and order tracking, your company can work more efficiently.  

Feature of e-procurement system 

•  Easy in communication 
•  Effective e-procurement software improves auditability. Be sure to source a solution that offers audit trails that detail transactional and user activity, with date and time stamps.