As an entrepreneur reselling IT products, it is very important that you use the right technology to operate your business. It goes without saying that if you are handling B2B customers that use procurement systems to conduct business transactions, then it is a must to Punchout catalog.
In case you think that you can easily grow your business even without using this technology, think again. You will have a hard time in getting new business. To put it simply, without this technology, your chances of winning new customers and retaining existing large customers is negligible.
PunchOut holds the key to expand your B2B/B2G business. As we all know, online transactions between the supplier and large customers take place via procurement applications. Now, these customers are looking for ways that will allow them to connect with an external catalog (supplier's site). This is what you can exactly do with Coupa PunchOut catalog that will connect your customer's Coupa procurement system with your remote site. In other words, remote access to your site is possible via PunchOut.
PunchOut connection will allow your customers to view your external site from within their procurement system. All they have to do is log into their procurement system, click on the PunchOut link to instantly view your supplier's contract catalog. In a B2B environment, the product catalog (commonly referred to as contract catalog) is created as per individual customer requirements.
Access Contract Products Only
PunchOut takes the customer directly to his pre-approved contract catalog. For instance, imagine as a reseller you are connected to multiple suppliers including Ingram Micro, SP Richards, and Tech Data. Now say, you have made a contract with a B2B customer, according to which he can only buy SP Richards products. PunchOut ensures that only SP Richards catalog will be visible to that customer. No wasting time in unnecessary wading through Tech Data and Ingram Micro products.
Every B2B customer accessing PunchOut-enabled site is able to view his contract catalog only. This works in favor of both the customer and the supplier. The customer can quickly add products to the cart without worrying about unknowingly selecting non-contract products. From the supplier's point of view, SAP PunchOut catalog eliminates the need to fix ordering errors as every order will only contain contract products.
Real-Time Price and Visibility
As a reseller, you might make frequent changes in product pricing and availability. So whenever you make changes in a specific customer's PunchOut catalog, you want the customer to know the updated Oracle PunchOut catalog immediately. This is not possible in case of CIF catalog, as the customer has to go through a tedious loading process before he can view changes in CIF catalog. This is not the case with PunchOut, as changes are immediately reflected on the customer's side.
Customer can view the product price and inventory changes in real-time. This will ensure that customers always buy products with updated product information. Real-time price and availability feature ensures that products with outdated pricing or incorrect inventory levels are not visible to the customer.