PunchOut is a protocol that connects the customer's eProcurement application directly to the supplier's website. This allows the customers to make purchases from within their eProcurement system.
B2B customers commonly use an eProcurement system to make purchases. A PunchOut Catalog allows the customers to directly access their pre-approved contract catalog without leaving their eProcurement system.
As a supplier, if you want to do business with B2B customers, you need to offer PunchOut catalog. It is now a mandatory requirement to deal with B2B customers.
How Does a PunchOut Catalog Work?
PunchOut simplifies the purchasing process of B2B customers. Following are the steps:
1) The customer logs into his eProcurement system with the right credentials.
2) In the eProcurement system, the customer clicks on the PunchOut link.
3) On clicking the PunchOut link, the customer is redirected to the supplier's website where he can directly access his contract catalog
4) After adding the products to the cart, the customer clicks on the 'Checkout' button.
5) The cart returns to the eProcurement application where it is routed for approval.
6) Once the cart is approved, a purchase order (PO) is created electronically and sent to the supplier.
Advantages
PunchOut catalog is a dynamic product. Whenever the supplier adds new product or modifies product pricing in PunchOut catalog, the changes are immediately reflected at the customer's side in real time.
PunchOut catalog have the provision to represent different configurations. This means you can sell a range of custom configurations using the PunchOut catalog and increase sales.
As a supplier, when you offer PunchOut, you get the opportunity to expand your business reach and increase your chances of winning new business.
From the customer's point of view, PunchOut eliminates rogue spending as customers have access only to their contract products.
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