Investing in E- Procurement will save your time and money. You can therefore work on a small basis. When you invest in E- Procurement you will be able to pay for services rendered online . This therefore save on time A lot of time is spent in the banks when making business transactions. Thus, when you go for the online option;E-Procurement , you end up saving your time because if it the selection of vendors and payment terms you just do it at ago.
E-Procurement enhances transparency in Institutions. Firms like banks, schools and micro- finances tend to give tenders every now and then. In the process of doing this , corruption chips in. When procurement is done manually many people tends to bribe the firms in order to secure the vacancies for differences , Therefore as an institution or a firm that is determined to grow, E-procurement will do you good since you will get qualified personnels for the services needed.
Website eprocurement enhances growth of both small and big businesses. E-Procurement covers all processes;identification of requirements in a tender, the bidding process and the payments . This therefore can assist a business budget for its expenses with ease, profits to the business. Also, with reduced costs using E-Procurement, it is possible to expand the business since money that could have been used in the manual process can be invested in other ways for the expansion of the business.
E-procurement gives room for future reference. Unlike where the manual tendering processes are used where information is stored manually. When E-Procurement is applied , it is possible to retrieve data even in the future since information is stored electronically.
Through the reduced costs in E-Procurement, a lot of investors are attracted to the market. This therefore enhances growth of a country as the investors contribute to the payment of taxes in a country. Therefore, with E-Procurement a tremendous growth of a country is observed.
E-Procurement brings about innovation. Through the processes done online, a company can be able to compare different products available in the market. The company can also be able to identify the various prices charged. This will in turn assist the business prepare for future growth in the business through observing the various trends in the market. A Company can also go for the best products since there is always a variety of products to choose from. This will in turn help in provision of quality services to its clients thus higher profits.
E- Procurement increases entrepreneurship . Many people no matter their geographical locations can apply for binds . This encourages people to start and run businesses. One can select vendors while seated comfortably in their homes. This encourages many people go for businesses of their dreams without the hustle of being there physically. This therefore enhances growth of countries through tax payments . Money got through the E-Procurement is also ploughed back to the country promoting growth of infrastructure.
Finally, E-Procurement system opens job opportunities . Since payment of services offered is done online, the payment companies tends to employ more personnels to assist i running of the business. This therefore secures employment for many individuals.