16/05/2024
E-procurement technology has become increasingly mainstream.
Such platforms are now central to businesses of all sizes. They manage sourcing and requisition through bidding, payment and invoicing.
E-procurement technology has come a long way.
Over the past few decades, companies have increasingly transformed their procurement processes, making the leap from paper to digital to the cloud. These changes have affected companies of all sizes, in all industries, says a new survey of 500 buyers of maintenance, repair and operations (MRO) products by W.W. Grainger Inc.
E-procurement platforms have been at the heart of this transformation. Such systems are central — digital platforms that can manage all procurement activity, from sourcing and requisition through bidding, payment, and invoicing. Today, 87% of survey respondents are using e-procurement tools.
The use of these tools ranges in scope and complexity. Grainger says they range from simple implementations that offer straightforward connections between companies and their suppliers, to advanced systems featuring automation, predictive analytics, artificial intelligence, and other high-tech capabilities......
Source and to read more about the trends: Mark Brohan | Apr 16, 2024
https://www.digitalcommerce360.com/2024/04/16/e-procurement-technology-mainstream/
