The Benefits of E-Procurement

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Electronic procurement uses internet-based technology and applications to the automation and supply chain processes of procurement. With the help of improved technology, ERP systems will be improved. The ERP System helps to support the automation system in a big way. With E-Procurements help, standard and quality will be maintained along with easier and smoother communication. These are some of the other benefits on E-Procurement.

  1. Reduce Transaction Time –Time saving and more productive work in an efficient manner will be done with E-Procurement. This means, save more time while dealing with transactions and no human interference and errors.
  2. Electronic Catalogue – With the help of e-catalogues, companies can market their products on electronic devices. This allows the buyers and sellers benefits as buyers can see every little detail about the product while sellers can get the payment online.
  3. Increased Standardization –Since the introduction of e-catalogues, this has allowed suppliers to sell their products in a more efficient manner for sellers. This allows buyers to view and compare the same product with other e-catalogues.
  4. Wide Spread Supplier Bases – As e-procurement portals depend on internet platform, buyers are now being able to search for wider range of products and services from different suppliers. The challenging part for customers however, is the shipping cost and delivery of the product which may or may not be feasible to them. However, in today’s time, majority of the suppliers do offer delivering their products in the majority of the world.

To learn more on e-procurement, get yourself enrolled for a few public procurement courses.