E-procurement

E-procurement refers to purchasing through electronic connections between buyers and sellers- usually online. E-procurement gives buyers’ access to new suppliers, lowers purchasing costs, and hastens order processing and delivery. In turn, business marketers can connect with customers online to share marketing information, sell products and services, provide customer support services, and maintain ongoing customer relationships.

E-procurement is the use of the Internet by business and government agencies to solicit bids and purchase goods and services from suppliers.