Calculating eProcurement Returns

At its simplest level eProcurement describes the business-to-business purchase and sale of supplies and services over the Internet. From access to online product and catalogue information through electronic payment services, the Internet facilitates seamless exchanges in support of electronic commerce. Properly planned and executed, an eProcurement system will reduce the time required to complete transactions, prevent maverick purchasing, and capture information that allows management to scrutinise buying patterns. It also prepares the buying organisation with statistical tools to better negotiate new contracts.

 Finance

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