E-Procurement or electronic procurement is the official business term for the use of technology to purchase goods and services. This includes the use of software to automate the purchasing process for everything from raw materials to office supplies. It is a more efficient and cost-effective way of managing the purchasing process, as it allows businesses to access a wider range of suppliers and purchase goods quickly and easily. The automation of the purchasing process also reduces the need for manual input, as all of the paperwork is handled electronically, leading to a streamlined, paper-free process.
E-Procurement is not just about purchasing from suppliers; it also encompasses the entire process from requisition to delivery. This includes the ability to compare prices and terms from multiple suppliers, analyze and track supplier performance, and create purchase orders as well as manage inventory and ordering. The use of online purchasing also allows businesses