Top Reasons to use Punchout Catalogs

Wondering why some suppliers seem to "own" the market? Are they smarter than you? Do they have a secret weapon that makes them stand out?

Well, when it comes to government purchasing or a bigger group of buyers, the key choice of the technical protocols used to connect to e-procurement systems most commonly known as "Punchout" surely makes the difference.

Most of the profitable and largest suppliers in the world refer Punchout connections, which allow buyers to order from your "Punchout Catalog" from right within their own e-procurement system. In simple words, Punchouts Catalogs let customers do business with you in a simplified way.

In today’s highly technologically advancing and competitive world, what do you think is the greatest challenge of marketing? Surely, it is customer attention. Why customer attention and exposure is so important? The answer is simple. How will customers buy from you, if they are not aware you exist?

A Punchout Catalog is a special type of e-commerce where customer’s finance or e-procurement system (for example SciQuest, Ariba, Coupa punchouts, Oracle, SAP, etc.) can log into specific product catalog using a Punchout protocol (for example cXML Punchout, OCI Punchout). It lets buyers purchase from a supplier directly through an e-procurement system.

The Punchout Catalog is used in e-procurement making it easy for the businesses to handle the buyers while ensuring that the procurement process is done precisely in a faster yet simpler way.

Let us have a look at some of the benefits of a punch-out catalog

·         No maintenance costs:  When you use a Punchout, you need not consider any expense related to the maintenance and publication of catalog on your side as it makes it possible for buyers to get price information. Punchout Catalog is maintained on supplier’s side. Thus, you don’t need to spend money or time on the maintenance process.

·         Increased efficiency with Better information: Efficiency is derived as Punchout Catalogs are maintained on supplier’s it is easier for buyers to find updated product details, pricing information, shipping costs and discounts.

·         Centralized and simplified Purchasing: Procurement managers and other users can negotiate prices with their preferred vendors through catalogs from within their electronic procurement software. It also encourages better management of expenditure and purchasing consolidation because all the catalogs are centralized in a single application.

·         Enhanced Shopping Experience:  As the Punchout Catalog can be made to look like the seller’s website, the users can have a feel as if they are shopping from the seller’s website. They can easily find the items they want. This enhances their shopping experience.

·         Better Productivity: Faster order processing through online automation helps improve productivity.  The purchasing cycle is automated and optimized to facilitate the improved efficacy of user’s resources.

Punchout Catalog also increases customer retention. All in all, all sectors of businesses are taking advantage of technology innovation, and a Punchout Catalog is used in e-procurement for certainly revolutionizing the procurement world. So, still here… what are you waiting for? Get ready to be a part of it and enjoy its benefits now.