Become an E-Commerce Contender with Punchout Capabilities
You may not be a big-time supplier with deep pockets, but that doesn’t mean you can’t compete with them in the e-commerce ring. With advancements in B2B software technology, even the small to mid-sized supplier can have a successful e-business, due in part to punchout capabilities. Punchouts are becoming a huge asset for distributors because they allow buyers to shop for products on a supplier’s website but transact through their own e-procurement system. This technology not only simplifies the buying process for people, it creates a great customer experience just like the major suppliers offer, but without the multimillion dollar price tag.
So, how exactly do punchouts work? Well, first, a buyer logs onto his or her company’s procurement system. While logged in, the buyer leaves or “punches out” of their company’s system and goes to the supplier’s webbased product catalog, also known as a punchout catalog. The punchout technology maintains a connection between the procurement system and the supplier website so that customer account information, including customer-specific catalog content and pricing, is captured and displayed to the buyer. The buyer then has the freedom to search for items from different vendor catalogs and add them to his shopping cart. Then, when
the buyer is ready to check out, his shopping cart automatically transfers into his company’s procurement system. Finally, the e-procurement system collects all of the items from the buyer and submits an order to the supplier using its normal procurement system methods. Sourcing and procurement departments prefer the punchout technology because it helps them ensure contractual pricing is applied, internal approval processes are followed and only preferred suppliers are utilized. Suppliers are making punchout technology a part of their e-commerce because it allows them to add more items to their online product offerings without incurring the costs to input or manage the data. Punchout capabilities are a great way for businesses to improve efficiencies and contain costs. Plus, the added benefits they give buyers help create a better overall customer experience:
Easy, single sign-on happens through the buyer’s e-procurement system Personalized catalogs help people find products quickly and easily Seamless communication between systems ensures accuracy of orders Purchase and payment occurs through the e-procurement system, making less work for the buyer
If you’re thinking of expanding your e-commerce offerings to include punchout technology, talk with our experts at Unilog. Our CIMM2 ecommerce platform has an available Punchouts add-on module that integrates with industry-leading e-procurement platforms, like Ariba, to create a personalized user interface with custom product catalogs for your customers. With CIMM2 and our Punchouts module, you’re able to provide the same online experience as huge suppliers, but for a fraction of the cost. Want to go toe-to-toe with the competition? Then get punchouts in your corner today! https://www.unilogcorp.com/blog/