Benefits of eProcurement in Government
eProcurement is a digital purchasing and supply chain management system that streamlines procurement processes and promotes transparency, efficiency, and cost savings. Private sectors have already accepted eProcurement. It has also gained significant momentum in government procurement in recent years. The estimated annual government spending of $9.5 trillion, or approximately 34% of the global GDP. This significantly impacts both domestic and international economies. It is clearly in the best interests of taxpayers and donors to ensure that this spending is efficient, transparent, and represents good value for money. EProcurement in Government has numerous benefits, from increasing competition and reducing procurement costs. In this blog post, we'll explore the key benefits of eProcurement in Government. Why Is An Eprocurement System Important For A Government? Implementing ICT, specifically electronic procurement (eProcurement) modules of the FreeBalance Accountability SuiteTM,...