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E-Procurement

Spending money can be expensive, regardless of whether the acquiring company is big or small and whether it is buying raw materials, finished goods, or services. The average simple purchase order costs between $75 and $125 to generate and process by hand. E-Procurement technology can take out as much as 75 percent of that expense, as well as improving sourcing, facilitating better supply chain relationships, assuring compliance with internal procurement policies, and enforcing discounts and contract requirements. For buyers and sellers, e-Procurement applications leverage the power of the Internet to facilitate transactions and improve relationships.

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