Procurement doubles in value annually

Increasingly, people are learning that Web-based procurement is more cost effective than traditional means. Companies are turning to the internet to buy goods and services, placing orders for everything from office supplies to safety equipment to temporary personnel.

Savings from internet commerce procurement could surpass US$103 bn on transactions totalling US$1.375 tn by 2003. The number of people who are using online procurement applications will explode from 600,000 in 1999 to 250m by then.