As more companies embrace eProcurement, it is important to utilize and understand how implementing a PunchOut store can help you drive sales, improve customer satisfaction, and streamline your supplier business strategy.
What is PunchOut?
PunchOut catalogs are eCommerce storefronts that allow institutions, government agencies, and corporate buyers to access and purchase a supplier’s products directly from their procurement systems. Similar to an online catalog where you would shop for clothing, PunchOut speeds the ordering and approval processes for issuing purchase orders.
PunchOut catalogs have specific requirements that make purchasing simple
Traditional B2B or B2G purchasing methods can get time consuming and difficult to manage, requiring buyers to visit multiple supplier websites independently. By creating an integrated experience between buyers and suppliers, PunchOut ensures cost-efficient, error-free transactions and strengthens vendor relationships.
Benefits of PunchOut
The PunchOut process brings numerous benefits to both buyers and suppliers. For buyers, having a unified storefront offers a user-friendly, streamlined shopping experience, reducing manual data entry and the risk of errors. Additionally, it ensures compliance with procurement policies and budget controls. For suppliers, PunchOut fosters closer relationships with buyers, leading to improved customer satisfaction and loyalty. It also simplifies the process of managing product catalogs and pricing, as updates are reflected in real-time on the buyer’s procurement system.
Step-by-Step PunchOut Process
Though it may seem complicated, the PunchOut process is actually very simple. Here’s the breakdown on how it works:
1. Initiation:
The PunchOut process begins when a buyer logs in to their eProcurement system (e.g., an eProcurement platform like EqualLevel Marketplace, Ariba, Coupa, etc). From their dashboard, they initiate the punch out process by selecting the preferred supplier they wish to connect with. This session allows real-time interaction and data exchange between the two platforms.
2. Shopping:
In order to shop, a buyer is “punched out” to their supplier’s website, seamlessly navigating to the catalog within the eProcurement system. With EqualLevel GO, supplier’s eCommerce websites become built-in extensions of their buyer’s procurement system.
Within the PunchOut catalog, the buyer can browse through the supplier’s products, view detailed descriptions, compare prices, and add items to their cart. All product information, including pricing and availability, is retrieved in real-time from the supplier’s database.
3. Cart Transfer:
After the buyer has finished shopping, they add selected items to a cart within the PunchOut catalog. When they are finished, the buyer’s cart will be transferred back to their eProcurement system to await approval.
4. Approval:
Back in the buyer’s eProcurement system, the cart content is reconciled, allowing their organization’s purchasing authority to review the order.
5. Purchase Generation:
Once the cart is approved, the buyer’s eProcurement system automatically generates a purchase order using cXML coding language containing the information from the PunchOut session. This order is sent to the supplier to fulfill, completing the purchase process.
PunchOut with EqualLevel
PunchOut is a transformative technology that revolutionizes the procurement process for all businesses. By integrating a buyer’s procurement system with their supplier’s catalog, PunchOut enhances user experience, improves operational efficiency, and empowers organizations with valuable data insights to make informed decisions.
With EqualLevel GO, we ensure a seamless and user-friendly PunchOut shopping experience, enabling your buyers to easily access, purchase, and checkout from your catalogs within our system. Our platform has full PunchOut capabilities and empowers clients with unparalleled cost efficiency. Get set up with a personalized PunchOut store toexpand your connections with unlimited access to EqualLevel clients, automate andsimplify the purchasing process, eliminate manual errors, and reduce administrative overhead. Choose EqualLevel to promote your business’ eCommerce excellence.
