Explaining Punchout Catalogs And Its Importance For Successful B2B E-commerce
What is a punchout Catalog?
A PunchOut Catalog is an automated e-procurement solution that allows the thousands of buyers purchasing through major marketplaces such as Ariba or Coupa procure, to seamlessly connect with the suppliers ecommerce portal through cXML .
The integration of the procurement system with that of the ecommerce portal allows for the automatic distribution of purchase orders. As a result this process can save 10 minutes processing time and nullify errors and miscommunication, meaning to secure contracts with buyers, distributors must offer this service as the norm. In fact the majority of fortune 500 companies will not purchase without a punchout solution.
What is possible with a punchout store?
Improved standardization with E-catalogs
E-catalogs bring B2C product visibility to modern procurement. Offer full price and product visibility in an easy to digest format and catch the buyers demanding and precious attention. Eprocurement allows for standardizing offerings, clear comparison and enables the buyer to make an informed decision.
Globalised procurement without the added complexity
Automate currency, language, tax rates and logistics to create relevant, personalised procurement portals. The simplicity of this on the supplier’s side allows for opportunities to globalise with minimal investment or complication. One eCommerce platform offering clear value proposition without any limitations.
Prompt invoicing and payments
By automating human dependant roles, orders can be placed at any point in that 24-hour window without the risk of time-consuming bottlenecks. This further supports opportunities for expansion into new markets in which businesses may have previously thought unobtainable. Purchase-to-pay automation removes the need for requisition approvals, instead 1 click approvals can communicate with automated stock control and warehouse solutions to create a seamless P2P cycle. Eprocurement makes fulfilment across the globe as simple as supplying domestically.
Single sign-on opportunities
Single sign-on has become the norm in a B2C environment, removing the need to unwillingly hand over data by logging in with previously connected accounts, such as Google or Facebook. This not only gives peace of mind to the consumer, it also ensures GDPR compliance for the host. Passing this solution into a B2B environment, (known as a punchout Catalog) means a buyer may log in seamlessly to a suppliers eCommerce portal using their in house procurement system. As well as simplifying GDPR, this massively speeds up the P2P cycle, automating purchase order requisitions and allowing for headache-free procurement.
Create process automations across the P2P cycle
What is E-Procurement? Facebook Linkedin E-procurement markets such as Coupa Procure, SAP Ariba Network or Oracle iProcurement are quickly becoming the new norm in the
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