Boosting Procurement Efficiency with Punch-Out Catalogs

Punch-out catalog in procurement software streamlines by providing a consolidated list of items from all supplier websites, external procurement applications, or hosted e-procurement systems in one place.

This eliminates the need for manual catalog maintenance and ensures that buyers can easily access and purchase products from preferred suppliers.

With features such as guided buying and contract utilization tracking, it enhances compliance and ensures optimal value from contracts. Hosted catalogs further simplify the process by negating the need for complex ecommerce integrations, facilitating a seamless buying experience.

How Does a Punch-out Catalog Work?

Step 1: Requisition

When a buyer initiates an order request for a specific supplier, the buyer is redirected to that supplier’s punch-out catalog. This catalog provides a familiar shopping experience, allowing buyers to browse products, view details, and add items to their shopping cart. As items are selected, the data syncs with the buyer’s procurement software in real-time, eliminating the need for manual entry.

Step 2: Approval & Purchase

After selecting items, the buyer submits their request for approval. The order request page is automatically populated with item details, reducing manual entry errors. Once approved through predefined workflows, a purchase order is generated, and the items are automatically purchased.

Step 3: Receiving

The supplier receives the order and proceeds with fulfillment and shipping. Upon delivery, team members can use the receiving module in their procurement platform to track what was delivered, who received it, and when.

Benefits of Punch-out Catalogs For Buyers

Streamlined Procurement Process:

Punch-out catalogs integrate with procurement systems, allowing buyers to access supplier catalogs, browse products and place orders without leaving their procurement platform.

Real-time Catalog Updates:

Buyers have access to accurate pricing, availability, and product information in real-time, ensuring they always have up-to-date information for purchasing decisions.

Improved Accuracy:

Automatic synchronization between procurement software and supplier catalogs eliminates manual data entry errors.

Leveraging Negotiated Pricing:

Buyers can utilize negotiated pricing agreements or contract terms directly within their procurement system, ensuring consistent and contract-compliant pricing.

Benefits for Suppliers

Enhanced Customer Experience:

Punch-out catalogs improve the buying experience by integrating with the buyer’s procurement system, making it easier for customers to access catalogs, browse products, and place orders.

Increased Sales Opportunities:

By simplifying the buying process and removing barriers like manual data entry or navigating separate websites, Punch-out catalogs can help suppliers capture more sales.

Efficient Order Management:

Integration streamlines order management, as purchase requisitions or orders are automatically transmitted to the supplier’s system, reducing manual processing and improving order accuracy.

Better Visibility and Analytics:

Punch-out catalogs provide valuable insights into customer behavior, purchase patterns, and product preferences. Suppliers can use this data to identify trends, optimize offerings and make informed business decisions.

To Sum Up

Punch-out catalog streamlines procurement by consolidating supplier catalogs, eliminating manual maintenance, and providing real-time product information. This enhances accuracy, compliance and simplifies purchasing from requisition to receiving. Embracing this technology leads to a more efficient and data-driven procurement process.