What is e-procurement?

The entire process of acquiring the goods and services a company requires to support its day-to-day operations is referred to as procurement. This includes sourcing, negotiating terms, purchasing items, receiving and inspecting goods as necessary, and recording all of the steps in the process. Electronic procurement, or e-procurement, as it is more commonly known, is the process by which an organization acquires the products and services it requires for operation through the use of the internet (or occasionally the intranet).A completely electronic workflow that streamlines all aspects of the purchasing process replaces processes that were based on paper.