eProcurement refers to the process of using electronic methods to conduct procurement activities, such as sourcing, procurement planning, bidding, and contract management. It involves the use of technology to automate procurement processes and reduce the need for manual intervention.
eProcurement systems typically include a variety of tools and applications, such as electronic tendering, e-auctions, supplier management, contract management, and invoice automation. These systems can be used in both the public and private sectors to improve the efficiency and effectiveness of procurement activities, reduce costs, and increase transparency and accountability.
Overall, eProcurement can help organizations streamline their procurement processes, reduce paperwork and manual tasks, improve compliance, and risk management, and increase access to a larger pool of suppliers, which can lead to better prices and higher-quality goods and services.