Benefits of E-Procurement

Benefits of E-Procurement

1) Reduced purchasing cycle time and cost;

2) Enhanced budgetary control (achieved through rules to limit spending and improved reporting facilities);

3) Elimination of administrative errors (correcting errors is traditionally a major part of a buyer's workload);

4) Increasing buyers' productivity (enabling them to concentrate on strategic purchasing issues);

5) Lowering prices through product standardisation and consolidation of buyers";

6) Improving information management (better access to prices from alternative suppliers and summaries of spending); and

7) Improving the payment process (this does not often occur currently since payment is not always integrated into e-procurement systems).

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