Sum knows better than most that e-procurement software speeds up bulk ordering of goods and allows corporate buyers to quickly search for the best quote from suppliers. Cutting out paperwork can cut costs too. They don't actually know what benefits e-procurement can bring. In Korea, Singapore, Hong Kong and Australia, most companies are only just beginning to work out a B2B strategy. Companies see how beneficial it is and after that they adopt other B2B technology.
Analysts cite language barriers and multiple currencies as obstacles to e-procurement in Asia.
In addition, electronic payments haven't yet replaced cash, letters of credit and written receipts. Purchasing agents may fear losing their jobs if procurement goes on-line, she says. But Michael Hawdon, a partner in management consulting services at PricewaterhouseCoopers, is confident that within two years e-procurement will become the norm. Suppliers, he says, hold the key to its success. As in many other e-ventures, once the region catches on, it is expected to catch up fast.