IT procurement

Purchasing vs Procurement

Many people use the terms purchasing and procurement interchangeably, but despite their similarities, they do have different meanings. Let’s clarify any confusion on the difference between procurement and purchasing.

Procurement involves the process of selecting vendors, establishing payment terms, strategic vetting, selection, the negotiation of contracts and actual purchasing of goods. Procurement is concerned with acquiring (procuring) all of the goods, services, and work that is vital to an organization. Procurement is, essentially, the overarching or umbrella term within which purchasing can be found.

Benefits include:

  • Technical resource allocated to each specific vendor
  • Presales and technical configuration advise
  • Below RRP pricing
  • Finance and lease options available
  • Single point of contact for multiple vendors
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