Electronic Procurement

E-procurement, or electronic procurement, is the B2B purchase and sale of supplies and services through the Internet as well as other information and networking systems. While some companies have achieved price reductions through online sourcing, the focus of e-procurement initiatives today is process efficiency. Typically, e-procurement Web sites allow qualified and registered users to look for buyers or sellers of goods and services. E-procurement is also sometimes referred to by other terms, such as supplier exchange.