Obtaining, or procuring, goods and services by internet or a company’s intranet as well as applying tighter fiscal controls over spending and product preferences. This process typically streamlines all aspects of the purchasing process.

More On This Topic

Link to This Definition
Did you find this definition of ELECTRONIC PROCUREMENT (E-PROCUREMENT) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary