e-Procurement: From Strategy to Implementation

Payment Systems

Finally, there has also been a rush to integrate into the e-procurement solution a method for secure and easy-to-use electronic payments. This has meant a similar scramble among e-procurement software vendors and ERP companies to form collaborations with major financial services groups, which has revitalized the lagging market demand for the corporate purchasing card.

It is not difficult to see the value of these online payment systems. In fact, it is absolutely critical to the overall effectiveness of any e-procurement initiative, simply because there can be no purchase without payment. Imagine, for example, the difficulties of continuing to pay your vendors on a monthly basis by paper checks. Not only is the paper-based system ...