is the business-to-business (or business-to-consumer or business-to-government) purchase and sale of supplies through the Internet or other information and network systems.
Coupa says it has taken a different approach to e-procurement
software by combining the power of enterprise-class, procure-to-pay solutions with the user experience of consumer-oriented Web 2.
Solution providers have developed functionally effective, cost-efficient, and rapidly deployable e-procurement
solutions, and many enterprises have utilized them to place more spend under management and ignite the transformation of their procurement organizations.
As university purchasing transitions from the paper-based, clerical activities of the past to the time- and cost-efficient, automated, self-service environment offered by e-procurement
, a growing number of vendors have populated the field in recent years.
In April, the DWP's procurement chief cited the e-procurement
system as an innovation that has allowed the DWP to save time and money on about $120 million of the approximately $883 million in contracts that the municipal utility awards each year.
Neef defines e-procurement
as "business-to-business electronic trade" and explains how the successful implementation and execution of electronic trade can result in significant financial benefits for firms.
contributes savings to the bottom line, but it is not a general panacea, according to speakers at CIMA's hot topic forum on implementing e-procurement
If an e-commerce-enabled Web site is like a grocery store open to anybody with a full selection of products, then an e-procurement
system is like a private store in your company.
To expedite a user's first e-procurement
experience, according to Christopher A.
More companies across Canada are considering implementing e-procurement
-- an Internet-based, corporate-wide buying strategy -- because of the substantial financial benefits it offers.
In a reflection of the original internet `gold rash', where businesses herded onto the net with ill thought out and largely ineffectual web sites, large organisations are adopting e-procurement
technologies without properly investigating the full business implications.
A new survey commissioned by the UK hosted e-procurement
business systems provider TomorrowFirst has revealed that it is the purchasing department and not the IT director that is leading the implementation of e-procurement
within British companies.