How Punchout Technology Helps Managing Suppliers

Punchout technology is used by suppliers and allows customers to view inventory and make purchases online. The ordering system makes the buying process seamless for consumers due to electronically transferring the purchase orders to the supplier’s internal system.

Integrating with your customer’s procurement system, Punchout can increase sales and order value, improve customer relationships, reduce administration costs, and offer a competitive advantage over standard e-commerce systems.

This article aims to inform how TrueCommerce Punchout systems can support managing suppliers and how a Punchout system works for B2B and e-commerce businesses.

It will cover the following:
• How does a Punchout system work for B2B?
• Benefits of a Punchout technology in B2B for e-commerce

For more information about Punchout systems and to discover how Punchout technology can help streamline your buying and selling process, keep reading.

How does a Punchout system work for B2B?

Punchout technology is an advanced system that allows customers to directly search and purchase from the supplier’s catalogue.

To benefit from a Punchout system, the supplier must grant the customer access to their product catalogue via the buyer’s procurement platform.

The buyer can then view the full product inventory and add items to the cart for purchase. Once the purchase order has been created, it is automatically sent out by Punchout for approval from the customer.

Once finalised, the supplier is informed and sent the final purchase order note.

Buying organisations are increasingly requiring the implementation of Punchout technology from suppliers in their B2B e-commerce solution. TrueCommerce Punchout seamlessly follows the procurement process, increasing efficiency and improving accuracy.

Benefits of Punchout technology in B2B for e-commerce

There are several benefits to using and implementing Punchout technology in B2B for e-commerce.

TrueCommerce Punchout systems are a sophisticated solution that combines the wants and needs of B2B e-commerce functionality through a seamless, cost-effective, and accurate process.

1. It is cost-effective
On average, Punchout technology reduces your customer’s costs by 10% by reducing administration costs. Punchout systems eliminate the manual input data process associated with traditional procurement methods to create a streamlined purchasing process.

Punchout is a stand-alone system that helps suppliers reduce the associated costs of purchasing. Suppliers operating through Punchout systems are typically 15% cheaper than a competitor operating without.

The automated nature of Punchout technology benefits both you and the customer. Powered by extremely accurate procurement equipment, the Punchout system operates with lower costs and eliminates costly human error.

The technological push in procurement requires suppliers to invest in updated B2B e-commerce solutions or the installation of Punchout technology that is more cost-effective than implementing alternative systems.

2. It is easily scalable
Punchout systems are also recognised for their scalability function. Suppliers are able to be added to the systems easily and quickly for efficient working.

Scalable solutions are provided by Punchout technology through easy-to-use and view online catalogues and fast-tracked purchase order approval.

The technology can maintain impeccable performance under an increase in demand and an expanding workload.

With the ability to function to the highest standard even when experiencing a change in processing demands, such as an increased number of users, Punchout technology is a scalable system that requires minimal updating.

3. Less risk of order errors
An automated Punchout system does not require buyers or suppliers to manually maintain product information, create purchase orders, and input data.

By eliminating manual tasks traditionally carried out by humans, Punchout technology reduces the risk of natural human error and order mistakes.

Punchout systems allow for the catalogue to be continually equipped with up-to-date, accurate information that can be relayed quickly and easily to the customer through the buyer’s procurement system.

The integration of Punchout with your customer’s procurement system enables the technology to seamlessly reflect any changes to the catalogue directly to the buyer for constant delivery of accurate information and the prevention of errors throughout the procurement process.

Order precision and accuracy can also result in a higher level of customer satisfaction and retention.

4. Fewer returns and a higher level of customer satisfaction
Due to less risk of order errors and the elimination of human error, Punchout improves customer satisfaction and builds an effective customer retention strategy.

Implementing your B2B e-commerce solution and your customer’s procurement systems makes for a strong and developed relationship. Cementing long-term relationships helps to secure and stabilise future business.

Offering easy and seamless processes, Punchout is a great way to retain customer contracts for increased periods. Tight integration into customers’ business makes suppliers ‘sticky’.

The continued presence in the buyer’s procurement system means your business or organisation can benefit from increased sales and an increased opportunity to improve customer satisfaction.

The accuracy of the technology also allows for fewer returns that the supplier has to process.

Comply with your customer’s Punchout requirements through TrueCommerce, which has over 15 years of Punchout experience.

Integrate your B2B e-commerce solution seamlessly with your customer’s procurement systems to offer easy viewing and purchasing from your supplier catalogue.

TrueCommerce Punchout system helps organise and improve buying and selling processes for the buyer and supplier at a cost-effective price.

Manage and optimise inventory in real-time and automatically reflect all changes via the integrated Punchout system for an accurate shopping experience with TrueCommerce.

For more information and to discover how Punchout technology can benefit your business and help manage suppliers, get in touch with TrueCommerce today.