Effective Spend Management through Electronic Reverse Auction Configurations

Information and Communication Technologies (ICT) are perceived as a catalyst for economic growth. Number of studies, carried out by worldand Europeanleading institutions such as Organisation for Economic Co-operation and Development (OECD) or European Commission, addresses this issue in their reports. (OECD, 2004), studies the influence and measures the impact of ICT on firms. The development of clear ICT-focused economic policies was the main objection of the report published in 2010 on demand of European Commission’s project (Reenen, et al., 2010). The ICT contributes to the economic growth through enabling the production of more goods in shorter time by facilitating computerized systems (Bongo, 2005), (Miles, 2002). In order to understand the impact of the ICT on economic growth several indexes, measuring the progress of ICT adoption in each country, were introduced. Most famous are Networked Readiness Index (NRI) regarding the technological field and Global Competitiveness Index (GCI) and World Competitiveness Index (WCI) in the economic field. Several studies have already identified dependencies between the standard economic indexes and the above mentioned ICT-related indexes (Sabol, et al., 2006).