eProcurement

eProcurement, or electronic procurement, is the process of acquiring goods and services through digital platforms. It allows organizations to manage purchasing activities online, streamlining the buying process from supplier selection to payment. By using eProcurement systems, businesses can easily compare options, handle orders, and track spending more effectively. This technology increases efficiency, reduces paperwork, and often leads to cost savings. It’s commonly used by government agencies and large companies to ensure transparency and compliance in their purchasing activities.