Wednesday, February 2, 2011

E-procurement-an advanced form of online purchasing

Today, online purchasing is drawing the global market under a roof. Customers can shop their desired articles online, from their home itself. In order to make this all possible, there are two important factors which affect the whole procedure a lot. These factors are companies and the suppliers. The E-procurement system is proving an important link between these two.

E-procurement means, to grab right product or service at the right time, to the right place and at the right price. Because of this, a company can add value to their service or product and also can save money and valuable time. 

E-procurement, if properly implemented, could be a better platform where the companies and their business process get well connected with their suppliers. This includes all kinds of interactions like management of correspondence, bids, questions and answers and previous pricing and emails sent to multiple partners.

With the well managed E-procurement system, company could keep their most relevant business deals, to be more organized. And not only this, they also could be more focused to their lucrative suppliers. 

But, one should not think that an E-procurement system will start to give them back the benefits, since the moment it is implemented. At its first stage, companies have to spend on the staff training in order to maintain the system. Plus some profit could also be eaten up by the cost of purchasing the system. It could take one or two complete years to give you back with the profits.

Meanwhile, there is no doubt that an E-procurement system enables the companies to get connected with their crucial suppliers especially when it comes to launch a new product or new technology which needs the much attention of the suppliers.

Stephen Soos is a serial entrepreneur who has set up and run a number of successful businesses in a number of vertical markets. Stephen Soos has successfully held the positions of CEO at Globus Energy and Director at Bonhoeffe. Stephen’s current business, Crystal Medical, is set to become the biggest marketplace in the world for medical equipment. 

To view more details about Stephen Soos or to get in touch with him, visit


Post a Comment