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Interest in eProcurement systems has steadily grown over the years with the addition of eCommerce-type software products that now satisfy the purchasing requirements between an organization and its suppliers. More large-market suppliers are now offering stand-alone online catalog-buying opportunities, with some offering negotiated contract pricing unique to an organization. In some instances, eCatalogs are built in-house and those suppliers are included as "punch-outs." This enables a buyer to access a supplier’s website from the organization’s in-house web-based catalog.
With the advancement of some eProcurement systems, organizations are enjoying the availability of line-item detail, consequently simplifying the audit process and saving time and money. Also, with some systems, competitive pricing requirements can be achieved using the one-stop shopping experience.
These systems integrate with many of today’s ERP systems, and once set up, can satisfy the organization’s needs and objectives.
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