Dictionary of Procurement Terms

The integration of electronic data interchange, electronic funds transfer, and similar techniques into a comprehensive electronicbased system of procurement functions; can include posting Invitations for Bids (IFBs) and Requests for Proposals (RFPs) on electronic bulletin boards, the receipt of bids via electronic data interchange, the notification of awards by email, and payment via electronic funds transfer. Also referred to as Electronic Sourcing (eSourcing).