The digital marketplace is constantly evolving. From increasing consumer demands for seamless online shopping experiences to business buyers dictating changes for streamlined corporate web solutions, customer demands are loud and clear. In response to these demands, savvy businesses are looking to incorporate a PunchOut Catalog into your operations.
Let’s take a look at what a PunchOut catalog can do for your business and why it needs to be in your 2017 budget.
What is an E-Procurement System?
A PunchOut Catalog, also called a PunchOut website, is a seamless way for corporate purchasing agents to obtain product from a supplier’s website through the buyer’s hosted e-procurement system.
The electronic procurement (e-procurement) system is the online sales application for products that business use to facilitate purchasing processes electronically. E-procurement systems consist of many different processes including sourcing, vendor management, catalog management, purchase order integration, order status, ship notice, e-invoicing, e-payment and contract management.
It comes in two different formats, a basic CIF catalog or a dynamic PunchOut catalog.
What is a CIF Catalog?
A content interchange format (CIF) catalog, also known as a hosted catalog, is a static list that’s typically organized in an excel format. It is a basic system that shows the necessary information to order products and then gets uploaded in the e-procurement system.
It is much less flexible than a PunchOut catalog.
What is a PunchOut Catalog?
Going beyond basic… today, businesses turn to a PunchOut catalog to fulfill their ordering needs.
A PunchOut catalog offers a dynamic vendor e-commerce website that communicates directly with a procurement system through cXML to provide essential information for ordering products within an organization. This may sound complex, but the process is relatively simple for users.
In other words, “punching out” allows B2B buyers to browse, add products (such as logoed office supplies) to their shopping cart and make a purchase directly from an electronic procurement system. It gives the organization full control over the final order and payment details before approval for processing and fulfilment.
A PunchOut Catalog also ensures a quality e-commerce shopping experience for customers making promotional product purchases with establishments such as schools, government, sports teams and charity organizations. It is designed with all the tools necessary to transact business, stay on budget and stay ahead of the competition.
Benefits of a PunchOut Catalog
A PunchOut Catalog has many powerful benefits for businesses including:
- Custom product lists with customized pricing
- Multiple platform connectivity
- Ability to give B2B buyers 24/7 access to make pre-authenticated purchases
- Fast and accurate orders
- Personalized shopping experience with a customized layout
- Helpful for organizations who change catalog content frequently
- Automated accounting, invoicing and budget checking
- Real-time pricing, inventory and shipping information
- Branding and marketing opportunities
- Easy-to-manage with no maintenance required
- Secure and safe ordering process
PunchOut Catalog Integration for Corporate Web Solutions
At Inkwell, we will produce and manage a secure site with the option of integrating your business’ internal purchasing platform. We can integrate with client’s procurement platforms including: Ariba, Sci-quest, Oracle, Coupa, SAP. Our user-friendly web store technology conveniently tracks sales and inventory for each item in your web-store.
If you’re considering implementing a PunchOut Catalog next year or would like more information about custom corporate web solutions, contact the experts at Inkwell today.
