The Electronic Procurement System or EPS is one initiative of government to reform and modernize government's procurement services. It involves the creation and operation of a central portal for government procurement, bidding and supplier information requirements, and the increasing use of the portal among government agencies. The EPS is expected to achieve transparency in public procurement activities. The resulting enhanced competition will encourage the acquisition of the best quality products at the lowest possible prices and consequently generate substantial savings in public spending. Some P80 million in newspaper advertisements and P600 million out of the P17 billion government procurement budget are expected to be saved. Acquisition time by government agencies shall also be shortened by two (2) weeks, and eventually, deliveries can be done "just in time".
