Digital procurement refers to the application of digital technologies and processes in the procurement function to streamline and optimize the end-to-end procurement process. It involves leveraging digital tools, automation, and data-driven approaches to enhance procurement operations. Digital procurement encompasses activities such as e-sourcing, e-auctions, online supplier management, contract lifecycle management, electronic purchase order generation, and electronic invoice processing.

By digitizing and automating these processes, organizations can improve efficiency, accuracy, transparency, and collaboration throughout the procurement lifecycle. Digital procurement enables real-time data analysis, better decision-making, cost savings, and enhanced supplier relationships, leading to improved overall procurement performance.