E-procurement emerges from a minor digital priority to a major digital priority E-procurement emerges as a major digital priority
E-procurement is no longer stuck in the digital minor leagues. E-procurement and punchout, or when a seller’s B2B e-commerce site is available from the buyer’s e-procurement platform, is hitting the digital commerce major leagues. E-procurement represents an annual e-commerce market of nearly $1 trillion, according to a projection from Digital Commerce 360, and is becoming even more of a priority for organizations of all sizes, according to new research from Amazon Business. .
Amazon Business, whose Digital Commerce 360 projects drive one in three transactions on B2B marketplaces, surveyed 440 business buyers in April for its 2022 State of Business Sourcing report.
Today, 91% of professional buyers prefer to shop online, and 47% of purchasing managers also expect to manage a larger procurement budget this year, the report says.
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