Did you know
that large buyers expect their suppliers to sell products via PunchOut? As a
supplier, you are likely to drive your B2B prospects away if you are not providing
PunchOut catalog. Considering that B2B
customers are the primary source of revenue for any VAR business, absence of
PunchOut will mean huge loss in business revenue.
As we all
know, large buyers do not follow the usual B2C purchasing process as they
prefer to use a procurement application for conducting transactions. A PunchOut
establishes a direct connection between the supplier’s B2B site and the
procurement system. As a result, a single click allows the buyer to access the
supplier’s site.
Moreover, the
buyer reaches directly to his contract catalog, thereby eliminating the need to
browse through the entire site. So the products, prices and description that
will appear on the catalog is as per the contract terms. No searching through
non-contract items.
The intuitive
user interface of PunchOut catalog solution gives ecommerce like shopping experience for
buyers. The purchasing process becomes a lot simpler. Searching the right
product as per the contractual terms and conditions is no longer a complicated
process. The tedious task of importing supplier catalog into the buyer’s
procurement application is completely eliminated.
On the whole,
with PunchOut connection, conducting B2B business is a breeze. It gives buyers
the opportunity to automate the entire purchasing cycle. Once the buyer logs
out the PunchOut session, the cart containing the added products is transferred
back to the procurement system. The Cart is then converted into a purchase
order (PO) with a single click. The PO is then routed through the approval
system as per the set hierarchy to get the confirmation of the document. After
receiving the confirmation, PO is sent electronically to the supplier, which
helps to speed up the order processing.
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