Wasting time is no fun and we can bet the feeling of wasting money is even worse.
Especially for businesses that have a lot to handle, deadlines to rush, and clients to satisfy.
That’s why we’ll be discussing all the key details you need to know about the PunchOut catalog.
Have you already heard about it? Feeling maybe confused about its differences with a regular e-commerce catalog?
Then you better keep reading on
What is a PunchOut Catalog?
Never mind the seemingly complicated name. A PunchOut catalog is quite simple to understand.
It’s just a sort of digital catalog that gives you the opportunity to access a supplier’s list of products directly from your procurement system.
One of the biggest benefits of a PunchOut catalog is that you can quickly go over the supplier’s website to view their latest products, pricing, and availability in real-time, make your choice and immediately return to your procurement system with your chosen items ready for approval and purchase.
Quite helpful isn`t?
How does a PunchOut Catalog works?
The first thing is to have an integration implemented between your procurement system and the supplier’s catalog, this is usually done relying on protocols like cXML (commerce eXtensible Markup Language).
Once this is completed, there are some couple of steps left.
Visit
If the integration has already been achieved, you can simply access to PunchOut catalog directly from your system and browse at leisure all the products the supplier has to offer. You can even apply filters and search for specific items, just like you would on a traditional e-commerce site.
Selection
As you browse, you can add items to your cart, view detailed product descriptions, and check real-time pricing. When you are done shopping, it’s time to submit a requisition for approval.
Approval
This is where you start to see the benefits, your requisition will be automatically filled with the details of your order, approved with an integrated workflow and obtain a purchase order without any additional effort. Your purchase is ready to go then.
Receipt of goods
When your order is approved, the supplier will fulfill it just like any other order. The difference is that the entire process was automated and managed through your procurement system, making it a lot easier for you and your team.
Benefits of PunchOut Catalog for Buyers
It’s easier
For procurement departments, easy means better. With PunchOut catalogs, you gain access to supplier catalogs, allowing you to browse products and place orders right from your platform. Talk about saving time.
Real-time updates
You can obtain precise information on pricing, availability, and product details as it changes. This way you won’t miss any important updates.
Accuracy
PunchOut catalogs make it easy to avoid manual data entry mistakes. They automatically sync product choices and order details between the buyer's procurement software and the supplier's catalog.
Better negotiation
A PunchOut catalog shows the agreed prices on the procurement system, making it easy to stay consistent and follow the contract terms.
Benefits of PunchOut Catalog for Suppliers
Yes, you read that right, there are also benefits for the supplier side,
Sales opportunities
This is a huge benefit for suppliers if the process of getting a contract with a new company is simplified, then there will be more chances to obtain new leads for sales.PunchOut catalogs make it easier for customers to complete their purchases.
Customer satisfaction
By connecting with the buyer’s procurement system, suppliers make it easy for customers to get to know their products and place an order. If buying what you need is simple, won’t you be returning a second time for more?
Order management
The connection between the supplier’s PunchOut Catalog and the buyer’s software simplifies order management. Important documents like purchase requisitions and orders are automatically sent to the supplier’s system, without relying on any manual input.
Insights
Don’t we all love when we get some personalized treatment? Companies aren’t different so when suppliers have insights into customer behavior, purchasing trends, and product preferences, they can identify trends, refine their offerings, and overall provide a better customer service experience.
Types of PunchOut Catalogs
Level 1
The Level 1 PunchOut Catalog, often called the store-level PunchOut catalog, is designed to facilitate the lives of B2B customers, as it really simplifies the purchasing process. When you access this catalog, you are directed to a single page on the supplier’s website, which is generated by your procurement system.
This catalog has some advantages like it lets you easily return to your procurement system with your shopping cart intact and gives you a detailed description of the products, but it also has a main drawback, it might take just too much time to go over everything.
Level 2
These are designed for speed and efficiency, offering a quicker shopping experience compared to Level 1. With this catalog, you can purchase approved items or multiple products at once. A main feature of Level 2 catalogs is that it allows suppliers to provide products directly through your procurement system. You’ll see product links alongside the supplier’s catalog name, giving you fast access to what are you looking for using your procurement application’s search results.
Common Challenges of PunchOut Catalogs
There’s no doubt that PunchOut catalogs can be greatly beneficial for businesses and even suppliers, that doesn’t mean however that the process of adaptation is free of challenges.
Compatibility
Not all suppliers may be equipped to offer PunchOut Catalogs. Be proactive in communicating with them about your interest in this solution, list the benefits we discussed above, and provide resources to help them get set up.
Integration problems
Technical integration can sometimes be complex. Collaborate closely with your IT team and suppliers to troubleshoot any issues that arise during the setup process.
User adoption
Getting your team on board with new technology is always something that requires patience and effort. Emphasize the benefits of PunchOut Catalogs and provide training to ensure everyone feels comfortable using the new system.
Key Takeaways
- Streamlined Process: PunchOut Catalogs integrate your procurement system with supplier catalogs, simplifying the buying experience and saving you time.
- Error Reduction: Automated data synchronization significantly reduces manual entry errors, leading to more accurate orders.
- Access to Deals: You can easily leverage negotiated pricing agreements, ensuring you always see the best available prices.
- Compliance Made Easy: By accessing controlled catalogs, you can stick to pre-approved products, helping maintain compliance with purchasing policies.
- Data-Driven Insights: PunchOut Catalogs provide valuable analytics that helps you understand purchasing behavior, enabling smarter decision-making.
- Types of Catalogs: There are two main types of PunchOut Catalogs, Level 1 and Level 2, the later is considered to be more efficient and time saving than the first level.