The three dimensions that characterize an e$-$procurement market based on its business functionality are sourcing, ordering and fulfillment.

Sourcing: This dimension focuses on the process of identifying and selecting suppliers for the goods or services required by the buyer. It involves activities such as supplier discovery, supplier evaluation, and supplier negotiation.

An effective e$-$procurement market should provide features that facilitate efficient and transparent sourcing, such as supplier directories, request for proposal $($RFP$)$ functionality, and automated bidding systems.

Ordering: This dimension relates to the process of creating and managing purchase orders. It includes activities such as generating purchase requisitions, approving orders, and tracking order status.

Fulfillment: This dimension focuses on the execution and fulfillment of purchase orders. It involves activities such as order confirmation, shipment tracking, and receipt and inspection of goods.

Two other market characteristics of an e$-$procurement net marketplace are:

Supplier Diversity: A noteworthy characteristic of an e$-$procurement marketplace is the presence of a diverse range of suppliers. This diversity can encompass factors such as geographic location, size of the supplier, and industry specialization.

Integration Capabilities: Another important characteristic is the marketplace's ability to integrate with other enterprise systems and technologies. Seamless integration with enterprise resource planning $($ERP$)$ systems, financial software, and other relevant tools enhances the efficiency and effectiveness of the procurement process.