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Procurement Terms

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eProcurement
eProcurement, short for electronic procurement, is the digitization and automation of the procurement process using technology and online platforms. It involves the electronic sourcing, ordering, and management of goods and services. eProcurement systems facilitate tasks such as online supplier registration, electronic bidding, purchase order generation, invoice processing, and vendor management.

These systems streamline procurement operations, reduce paperwork, enhance transparency, and improve efficiency. They enable organizations to automate routine tasks, increase procurement accuracy, track spending, enforce compliance, and analyze data for better decision-making. eProcurement enhances collaboration between buyers and suppliers, optimizes supply chain processes, and ultimately helps organizations achieve cost savings and operational excellence.
Specialism:
eProcurement Procurement Operating Model