B2B customers who are not using PunchOut technology have a hard time interacting with their suppliers. The traditional CIF catalog makes it horribly inefficient for customers to conduct transactions. On the other hand, PunchOut offers an easy way for its users to access a supplier’s website from within their procurement system.
Why to Use PunchOut?
Maintain Approval Process
B2B customers typically create approval hierarchies when it comes to approving a purchase order. Oracle iProcurement PunchOutenables them to maintain approval hierarchies. This is because when the customer add products into the shopping cart and close the PunchOut session, the cart automatically returns to his procurement system. Once in the procurement application the cart is automatically routed for approval as per the hierarchy set by the customer. So the PunchOut technology never interferes with the approval process of B2B customers.
Supports Electronic Purchase Order (PO)
Once the shopping cart is approved, it is converted into PO and electronically sent to the supplier. This ensures order accuracy and faster order processing and fulfilment, thereby enhancing productivity associated with processing orders. Oracle iProcurement PunchOut solution users don’t have to follow manual purchase order procedures, which are enormously tedious and time consuming.
No Catalog Maintenance
The PunchOut user (B2B customer) does not have to reserve any resources for maintaining the catalog. Catalog maintenance is a tedious process, which is efficiently handled by the supplier. The catalog containing thousands of items is updated on a regular basis by the supplier. The customer is merely connected to the catalog via PunchOut.
Real Time Availability
As a B2B customer, you have real time access to product information. So whenever the supplier changes pricing information or product description, it is immediately available to the customer. Unlike CIF catalog, the customer does not have to wait for hours or even months to access latest updates.