Glossary What is a Procurement Platform?
By / 2 Jan 2023 / Topics: Procurement
A procurement platform is an online marketplace (like an e-commerce experience) that supports the sale and purchase of supplies, commodities, technology or services. Procurement platforms are often used to facilitate business-to-business or business-to-government sales.
Procurement platforms can host direct connections between businesses to simplify purchases. They are used to achieve full visibility into a business’s purchasing activity, helping the business track budgets and ensure the right items are purchased.
Common procurement platform features include:
- Personalized user accounts
- Order tracking
- Saved carts
- Product comparison
- Invoicing
