Most items are procured via dedicated e-procurement portals that enable the registered buyer to browse for different suppliers of the products or services. Where most of the e-procurement platforms are set for e-auction where a buyer bids on the items he wants to procure, others follow a different approach where all the products and services are displayed with a specific price attached to it.
There is a rise in the e-procurement market as the b2b buyers now make their purchases online. They search, identify, and purchase over the internet for their respective businesses. “68% of B2B buyers now purchase goods online”- (According to 2014 State of B2B Procurement Study — Acquity Group)
With an e-procurement solution, the long procure-to-pay cycle can be made more effective as well as efficient. Organizations should also focus on flexibility, usability, and automation. This will help buyers to easily purchase the items while on the job and will empower a wider opportunity to adopt the e-procurement solutions.
E-Procurement is at the center of increasing the longer-term success of B2B E-Commerce. Automation and online shopping experiences are essential currently within the B2B sector. A slow rising adoption rate remains to be the most important obstacle for E-Procurement, but if organizations start to give an additional focus to the usability, flexibility, and automation of their systems and supply end-to-end final payment and settlement, then it is not so long to see an increase in adoption of e-procurement platforms and a true worth of e-procurement can be seen.
There is a rise in the e-procurement market as the b2b buyers now make their purchases online. They search, identify, and purchase over the internet for their respective businesses. “68% of B2B buyers now purchase goods online”- (According to 2014 State of B2B Procurement Study — Acquity Group)
With an e-procurement solution, the long procure-to-pay cycle can be made more effective as well as efficient. Organizations should also focus on flexibility, usability, and automation. This will help buyers to easily purchase the items while on the job and will empower a wider opportunity to adopt the e-procurement solutions.
E-Procurement is at the center of increasing the longer-term success of B2B E-Commerce. Automation and online shopping experiences are essential currently within the B2B sector. A slow rising adoption rate remains to be the most important obstacle for E-Procurement, but if organizations start to give an additional focus to the usability, flexibility, and automation of their systems and supply end-to-end final payment and settlement, then it is not so long to see an increase in adoption of e-procurement platforms and a true worth of e-procurement can be seen.
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