e-Marketplace

An e-Marketplace is a digital platform that connects multiple buyers and sellers in a centralized virtual space, facilitating transactions across various product and service categories. These online exchanges streamline procurement by aggregating supply options and standardizing transaction processes.

Key components of e-Marketplaces include:

• Supplier catalogs and product listings
• Search and comparison tools
• Standardized ordering processes
• Payment processing mechanisms
• Rating and review systems
• Industry or category specialization
• Value-added services such as logistics coordination

Organizations leverage e-Marketplaces to access broader supplier networks, simplify purchasing for non-strategic items, reduce transaction costs, and implement standardized buying processes across departments. Modern procurement systems often integrate with established e-Marketplaces to provide seamless access within corporate purchasing workflows.