e-Procure provides a blockchain-based B2B platform that automates procurement, contracting, and payment processes through smart contracts and a secure escrow system. This solution enhances transaction security and efficiency, addressing the challenges of trust and payment protection in B2B e-commerce.
Funding
Funding not disclosed
Founders
Product
Problem
Many B2B e-commerce transactions suffer from a lack of trust between buyers and suppliers, leading to payment risks and inefficient procurement processes. Traditional procurement methods often involve manual contracting, increasing administrative overhead and the potential for errors.
Solution
e-Procure offers a B2B e-commerce platform that leverages blockchain technology and smart contracts to automate and secure procurement, contracting, and payment processes. The platform's smart escrow system ensures payment protection by holding funds until the agreed-upon terms are met. By automating the creation of smart contract agreements, e-Procure ensures that all parties agree to transaction terms and conditions. This system streamlines the entire procure-to-pay process, from supplier discovery to payment settlement, fostering trust and efficiency in B2B transactions.
Target Audience
The primary target audience includes businesses of all sizes engaged in B2B e-commerce, particularly procurement teams, suppliers, and buyers seeking to improve transaction security and efficiency.
Features
- Automated smart contract creation to define transaction terms and conditions
- Secure smart escrow system for payment protection throughout the transaction lifecycle
- Supplier network for expanding supplier lists
- Buyer network for expanding client lists
- Expert network for hiring on-demand experts
- All-in-one procure-to-pay solution to automate the entire procurement process
- All-in-one source-to-pay solution to streamline strategic procurement
- All-in-one supplier discovery solution to simplify supplier search and management
- All-in-one e-catalogue solution to automate product and service catalogues
- All-in-one proposal and bidding solution to streamline quotation processes
- All-in-one buyer discovery solution to simplify client search and management