I wanted to share with you all this interesting video about a topic that we studied in the last session: E-procurement.
- What is E-procurement?
Procurement is a simple get innovative technology. This includes requisition approval, creation of purchase orders, purchasing, receiving, feedback as well as bid vendor and payment management. So, it is the business-to-business (B2B) requisitioning, ordering and purchasing of goods and services over the internet.
The entire spending process is done proactively online saving you time and money. There are many key benefits of implementing any procurement system. Let’s see some of them:
- You will know in real time exactly where you are at in your budget
- You will catch unwanted spending before it happens instead of waiting for a report
- You will save a lot of time
- Accountability and transparency
- High visibility into the purchasing process
- Any procurement system will return a significant savings à your return on investment will be very favorable
Here I attached the video: