E-Procurement System Definition

An e-procurement system is an online platform that enables businesses to streamline their procurement processes by automating key tasks and improving communication and collaboration between buyers and suppliers.

e-Procurement systems can help businesses save time and money on procurement by automating manual tasks, such as request for quotation (RFQ) management, supplier selection, contract management, and purchase order management. In addition, e-procurement systems can improve communication and collaboration between buyers and suppliers by providing a central platform for exchanging information and documents.

The benefits of e-procurement systems are not limited to businesses; government organizations can also benefit from implementing these systems. Government organizations can use e-procurement systems to increase transparency in public procurement, improve efficiency in the bidding process, and reduce corruption.