Barclays claims UK first with secure e-procurement system

From next month, will provide the UK’s first secure payment-to-payment e-procurement system. Purchasing solutions such as these aim to simplify, automate and speed up the procurement process by using the internet rather than the telephone for ordering.

The bank believes the e-commerce market is growing at a rate of 150% per annum across Europe and will be worth as much as $4 trillion by 2004.

Andersen Consulting has been drafted in by the bank to help design the service while information management software house Oracle will provide the procurement application.

In the future, Barclays also hope to offer channels for the sale and delivery of business and financial services.

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