E-procurement typically describes business-to-business purchases that are done online or over some digital network or platform. This is a rather broad description of many transactions that happen based on modern technologies and business and vendor partnerships.
The term e-procurement is often associated with other terms like supplier exchange and supply-chain management. E-procurement systems may involve a component of competition and price analysis. One way to understand conventional e-procurement is that it is different from consumer e-commerce, where the dominant model involves shopping carts and user-friendly Web-delivered interfaces. With e-procurement, the interface is more often set up in a way that facilitates commercial transactions, with specialized invoicing, purchase orders, shipping and payment tools. E-procurement systems also differ depending on whether or not they're used in the public sector or in government.
Share this Term
Tech moves fast! Stay ahead of the curve with Techopedia!
Join nearly 200,000 subscribers who receive actionable tech insights from Techopedia.
Latest Articles
By: Devin Partida | Editor-in-Chief for ReHack.com
By: Michelle Greenlee | Contributor
By: Dr. Tehseen Zia | Assistant Professor at Comsats University Islamabad
By: Devin Partida | Editor-in-Chief for ReHack.com
