a)Describe what e Procurement is.

 

b) Research two (2) e Procurement Systems that are available 

Open Source.

 

Ans:-  a) Electronic procurement, or e-procurement, is the business to business (B2B) process of requisitioning, ordering, and purchasing goods and services over the internet. At the enterprise level, a chief procurement officer (CPO) or official procurement department will set the policies for procuring goods and services for the business, with the goal of acquiring what the business needs at the best possible price or with the greatest value at the time it’s needed.

To accomplish this goal, procurement staff establishes relationships with suppliers, negotiate contracts, and set guidelines or purchasing limits on the types of purchases that are allowed and the kinds of items the money can be spent on. E-procurement software like Purchase Control enables procurement leaders to automate policy adherence, contract management, and vendor relationships within the system

 

b) Coupa:-  Formed in February 2006, a 100% open source stack was used to build the first freely downloadable e-procurement system, Coupa e-Procurement Express. Coupa E-procurement is a cloud-based procurement software solution that provides visibility into your spend with a single, easy-to-use platform users can access from anywhere at anytime delivering the efficiency, productivity, and savings they been hoping for in an e-procurement system. With the Coupa E-Procurement system, everyone in an organization can get what they need efficiently, while also boosting compliance and speeding up the procurement cycle end-to-end Coupa's business model is to expand and enhance the Coupa e-Procurement Express open source project into a packaged solution available via SaaS. Annual subscriptions start at $3,495 USD and, in addition to the delivery platform, include updates, maintenance, backups, and monitoring.

 

Fraction:- Is formed in 2001 and Fraction's cloud-based procurement software provides purchase requisitioning, expense and approval management with advanced analytics. Automate the procurement cycle and streamline procure-to-pay processes with complete visibility and policy compliance. 

Automate and simplify the way you request items, authorize costs and pay for goods with Fraction's cloud Spend Management solution. Fraction's procure-to-pay solution is fully mobile, user-friendly, enables unlimited document uploads, automates processes and can be deployed rapidly. Fraction enforces escalating levels of approval and ensures that all expenditure is authorized before it is incurred, each transaction is approved, within budget and recorded.