A faster and more streamlined purchasing process is just one of the benefits eprocurement can provide, according to an expert in the sector.
As the US government continues its development of an electronic link between the acquisitions and financing of various federal contracts, a director at one department spoke of the many advantages offered by an online procurement system.
"The finance people get real-time funds checking and commitment accounting, and the procurement people get a faster, more streamlined, paperless product," said Mike Fullem, director of the health and human services department's consolidated acquisition system.
He also explained that obtaining real-time financial figures is important and effective for accurate annual fiscal-year figures, as this is when many large requisitions are posted simultaneously.
This month, the US department of agriculture announced that the procurement process for biobased materials was to be simplified.
It plans to update the federal acquisition regulations which explain guidelines and policies for officials within the procurement industry.
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