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Thursday, 12 February 2015

The Advantages of E-Procurement System

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Every large and small business need to deal with many purchasing and selling goods and services for their business purpose. This process is refereed as Procurement and when Procurement is done by Internet then it called e-procurement. The E-procurement is a new age procurement process and very essential for modern growing business community. As we all know the internet is the future of the business then E-procurement would be very important for all the business houses.
The E-procurement process includes all the purchasing and selling materials, goods or services from paperclip to lawyers. The modern E-commerce era is growing day by day and this progress affects all the small and large companies very strongly, thus the need of online procurement is become very essential.
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The Advantages of E-procurement are very clear. Because of negligible paper work and other expenses it is considered as very cost effective as compared to traditional procurement system. It also widen the range of your business as internet is worldwide and you can deal or offer service to beyond your region. For buyers, there is many advantages as it is more transparent and user friendly environment. The buyers could easily sort out the selected bid and categorized the bidders as per their status and offering. The buyers could easily contact the bidders or suppliers and view all documents and other important data at one place any time. The similar advantages for suppliers as they can view and manage all their bids at one place and could easily contact the buyers. Actually the E-procurement solution creates a hub point for buyers, suppliers and other authorized partners. This type of collaboration can really make modern business to a new height.

The Electronic Procurement or E-procurement is now adopted by many organization ranges from small to medium, it includes all the government and private sector The E-procurement process may differ for every organization, depends on what types of software or online e-procurement solution they are using. The performance and features are also depends on that. Many private and government organization has their own automated E-procurement system and many take services from other E-procurement solution. There are many good online systems out there over internet like “Lotus Procure”. “Lotus Procure” is a good automated E-procurement system focusing companies from India.  You can also find some good companies or software if you want to take the advantages of E-procurement. But make sure the platform or system has all the required features for doing end to end business over Internet.

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