oboloo Glossary

P2P System Procurement

oboloo Glossary

P2P System Procurement

A P2P System Procurement is a type of technology-enabled procurement process that allows the direct purchase of goods and services between two or more parties. This type of system typically involves digital tools and processes that enable buyers and sellers to interact, negotiate terms and conditions, and purchase goods and services with minimal manual intervention. Additionally, P2P System Procurement provides enhanced collaboration, visibility, and automation across the entire procurement process. The system is also designed to reduce costs, streamline workflows, and improve efficiency. Furthermore, the ability to purchase goods and services directly from the supplier can also help to create stronger supplier relationships and improve supplier performance. Additionally, this type of system can also provide improved data security since the system does not store any of the confidential information exchanged between the two parties.