e-Procurement is the term used for the electronic purchase solution - it is software that allows addressing and selection of suppliers and also the actual purchase. The expandable material, commodities and services are most often purchased through e-Procurement. It takes place in the business relationship between the two companies (B2B).
e-Procurement in practice: e-Procurement solution is part of our supplier relationship management (SRM) and can support the entire process cycle from creation to the archiving requirement of a purchase transaction.
- Creating a purchase requisition
- Approval of purchase requisition
- Addressing suppliers
- Monitoring and evaluation of suppliers
- Purchase and purchase monitoring
- Archiving purchase transactions
From a technical point of view, e-Procurement solutions are parts of the information system of the organization or it is a web application that is operated by a third party.