A punch-out catalog is an e-commerce website which allows buyers to buy from a supplier directly via an electronic procurement system. The use of a punchout catalog in e-procurement has made it possible for the suppliers to deal still with the buyers while also ensuring the procurement process is done accurately in an easier and faster way.
When the user enters the catalog, their credentials which uniquely identify them are then authenticated. Upon reaching the catalog, they can shop and add items to the shopping cart and then check out. Their shopping is then transferred to the procurement application for approval and processing.
Benefits of using a punch-out catalog
Reduction in maintenance costs
Having a punch out catalog enables buyers to get price information. This eliminates the need of having to update the hosted catalog to many buyers since one has their catalogue.
Increase in accuracy
Efficiency is derived in the sense that it is easier to do product updates, maintain pricing information and also control the availability of the product. All this is made possible since you maintain your catalog. If a product is discontinued is also easier to remove it rather than having to wait for a product update on the buyer’s side.
Purchase orders and invoices are done electronically
In this era where everything is being done electronically, using a punch-out catalog makes this possible in the world of procurement. One can accept orders and invoices sent automatically to the buyer. This not only enhances the accuracy of the information but also makes payment faster.
Shopping experience of the buyers is enhanced
This catalog allows the buyer to have a feel like they are shopping from the seller’s website. This is because the punch out catalog can be made to look exactly like the seller’s website hence their shopping experience is enhanced.
Punch out catalog has made it possible to maintain inventory and also make payments faster. In addition to that, there is an increase in customer retention. The seller can offer a more flexible punch out catalog hence eliminating the need to look for better deals from the other competitors.
The use of a punch-out the catalog in e-procurement is truly a revolution in the world of procurement. This shows that technology is being embraced in all sectors of the business. This makes it easy to do procurement in a more accurate way.