- Jul 03, 2020
- Business Update
JD Business Accommodates 52.3% in Enterprise Digital Procurement in China
by Yuchuan Wang
JD Business, JD.com’s enterprise procurement business, ranks first among procurement platforms with a market share of 52.3%, followed by Alibaba and Suning’s procurement businesses.
The Report of China Enterprise Digital Procurement Development 2019 was newly released by China Center for Information Industry Development and China International Electronic Commerce Center.
Leveraging JD.com’s e-commerce platform, supply chain and logistics and technology capabilities, JD Business provides a one-stop solution for enterprise procurement. It now serves 428 of Fortune 500 enterprises in China and has increased average procurement efficiency by 45%. About 490 of the Fortune 500 companies have operations in China.
The report points out that, with the rapid development of big data, cloud computing, IoT, blockchain and AI, enterprise procurement is accelerating the expansion from simple online procurement to full-scenario digitization in procurement management, supply chain services and even services covering the entire industrial chain. E-commerce procurement is also accelerating enterprises entry into the digital procurement era. In 2020, the growth rate of digital procurement of Chinese enterprises is expected to be higher than that of the previous year, and the transactions are expected to exceed RMB 1 trillion yuan.