Have you already heard of the term “punch-out catalogue?” It is an eCommerce site that permits a buyer to purchase from a supplier using a so-called “electronic procurement system.” Buyers who purchase using this particular system use punch out services for electronic procurement. These include corporations, universities and hospitals.
Customers need to own a procurement software to manage their financial spending.
As soon as the buyers connect to the procurement applications with the use of punch-out catalogues, they can already place their item orders. Examples of these are a lab operator ordering laboratory apparatus and a restaurant manager ordering liquid soaps. Just like the conventional transaction between a supplier and a buyer, both parties still deal with one another. The main difference is that the delivery is found to be quicker and a bit accurate.
How your business can benefit from a punch-out catalogue
Won’t be Burdened by too much Maintenance
Given the fact that you are already in charge in maintaining your very own catalogue, you can now stop updating the hosted catalogues of all your buyers. To get particular pricing information, your buyers simply need to connect to your punch out catalogue.
Assured of Accurate Results
The good thing about maintaining your product information at your location is you will be assured that you will get accurate results. It is ensured that information on shipping discounts, pricing details and product availability are conveniently controlled and updated. Should you wish to stop selling a product, you can do it immediately. You no longer need to wait for a buyer’s product update which can take several days.
Do your Transactions Electronically
When your buyers are using punch-out catalogues, you can accept orders and send invoices electronically. It means that you can provide accurate invoices, and of course, you can receive payments faster. From the usual 60-day receivable terms, you can expect it to go down to 3 days as soon as you start using punch-out catalogues.
Customise your User Shopping Experience
By using a punch-out catalogue, you can customise the look and vibe of your user shopping experience just like your business website. It does not need to look like a hosted catalogue anymore. You can design it by the style that will be loved by your buyers.
Retain more Customers
Apart from the benefits that are mentioned above, you are also assured that you can retain more customers because of the flexibility that your business offers. You do not need to worry about losing your loyal customers to your competitors.