Punchout catalogs give businesses direct access to a supplier’s catalog of inventory through their own purchasing platform. In addition to the ability to use a familiar procurement program, suppliers often negotiate custom rates for businesses within the punchout catalog, which makes the system beneficial for both purchasers and suppliers.
New businesses, whether a supplier or a purchaser, need to cut costs and have streamlined inventory in order to win in a digital marketplace. Punchout catalogs give new businesses a digital edge. Here’s how punchout catalogs can help startup companies.
Suppliers need to be agile and competitive. The internet is the perfect platform to reach new customers and compete in the marketplace, and offering a punchout catalog to buyers can help new supply companies win customers.
Reach More Customers
Purchasing companies want punchout catalog functionality from their suppliers. In fact, many companies will specify having punchout software as part of the contract with a supplier. Suppliers without punchout catalog software have a harder time competing against supply companies that use punchout catalog programs.
With more customers come increased revenues. The cost of implementing punchout catalog software is relatively low, and the supplier’s software can be directly integrated into the purchaser’s eProcurement software. Maintenance costs are also very low, making the investment in a punchout catalog system worthwhile for your new business.
Streamline Sales Processes
Efficiency is key when it comes to being a leader in any industry. Cut costs, win customers, and grow your business by implementing an efficient punchout catalog system. Rather than B2B sales through emails, a punchout catalog system allows you to use purchase orders and invoicing, with in-depth sales analytics and reports available on the punchout catalog platform.
Punchout catalogs offer benefits to new businesses that need to purchase supplies and inventory. Rather than procuring physical inventory by visiting the supplier and making the purchase in-person, punchout catalogs let new businesses acquire inventory, supplies, and other business necessities, all from an easy-to-use eCommerce platform.
Partnering with a supplier that uses a punchout catalog system can save the purchasing business money. Punchout catalogs allow suppliers to create custom prices that update automatically in the system, which means lower negotiated prices for purchasers and often an increase in sales volume for suppliers.
Automated Inventory Purchases
Automation saves businesses time and money, and a new online startup needs to save all the time and money it can. If you’re shipping out goods from a website or need a consistent stream of inventory, you can use a supplier’s punchout catalog system to automate your inventory purchases. The software can flag your inventory when it gets lower than a predetermined threshold and can even automatically order inventory to fulfill demand.
Ease of Use
Punchout catalogs change the way that B2B sales are conducted. Rather than going back and forth via email and having the supplier manually key your order, a punchout catalog gives purchasing businesses the ability to seamlessly shop for what they need online. They’ll receive purchase orders, invoices, and even have the purchase move through multiple levels of approvers within the business if necessary. Punchout catalogs combine traditional B2B sales with the convenience of online shopping.
Online Businesses to Business Sales
Much of business to business sales today is conducted online, and punchout catalogs are there to help make that sales process easier. From streamlined sales processes to customized pricing and sales analytics, these platforms give both buyers and suppliers a competitive edge. If you’re a new business or website owner that needs consistent inventory, a punchout catalog can provide just what your business needs.