To thrive in the B2B eCommerce market and stay ahead of the curve, one has to offer essential and innovative features on their eCommerce store. One such feature is the eCommerce PunchOut catalog. Like any technological advancement, opinions always vary. Some individuals think of it as an improvement to the current scenario, while others think it is essential and they adapt it.
Today, we will explore whether an eCommerce PunchOut catalog is just a value addition or a necessity for your B2B online store.
Table of Contents
- What is an eCommerce PunchOut Catalog?
- What is a Value Addition?
- Benefits of a PunchOut Catalog
- Getting a PunchOut Catalog: A Value Addition or a Necessity?
- The Bottomline
What is an eCommerce PunchOut Catalog?
For those unfamiliar with an eCommerce PunchOut catalog, it is a product catalog that exists on the vendor’s online store, but the buyers can access the catalog within their eProcurement system.
With a PunchOut solution, buyers can buy goods and services from B2B eCommerce stores and marketplaces without leaving their procurement systems.
A PunchOut catalog simplifies the procurement process for buyers. That is why most buyers in the B2B eCommerce sector prefer online stores with PunchOut catalog integration.
What is a Value Addition?
Before we debate whether a PunchOut catalog is a value addition or a necessity, we must understand what value addition is. An eCommerce PunchOut catalog is an added feature by the seller. It can be counted as a value addition when it:
- Provides More Value for the Customers: A feature is considered a value addition if it increases the utility of a product. In this case, a PunchOut catalog enhances the shopping experience for the customers. Thus, adding more value to customer satisfaction.
- Boosts Sales: If the feature attracts more buyers to your online store, it is a value addition.
- Leads to Innovation: If the feature is innovative, it can be more beneficial for the seller as it has the edge over the competition.
On the other hand, necessary features are the features without which your eCommerce store can’t function efficiently and becomes unfit to serve customers.
Benefits of a PunchOut Catalog
1. Seamless Procurement Process for Buyers
Having a PunchOut catalog for your online store makes it easy for buyers to complete their procurement process. The buyers manage everything from their procurement application.
Most medium to large businesses use eProcurement software, so having a PunchOut catalog integration will attract more businesses to your eCommerce store.
2. High Accuracy
A PunchOut catalog integrates seamlessly with the seller’s and buyer’s procurement systems. The changes made on either side reflect instantly on both sides. Hence, the chances of errors are almost zero. A traditional buyer-hosted catalog can’t achieve accuracy.
3. Real-Time Pricing
Since the catalog connects with the buyer’s eProcurement system, all the product pricing changes instantly reflect on their software. It makes the procurement process easy as buyers can quickly get approval from the higher ranks to proceed with the buying process.
4. Seamless Experience
A conventional B2B procurement process without PunchOut catalog integration involves a long list of steps before the buying happens. So anything that saves time and resources in the shopping experience is highly valued and welcomed, and a PunchOut catalog does precisely that.
Getting a PunchOut Catalog: A Value Addition or a Necessity?
Now that we know about the PunchOut catalog and its benefits, we can finally answer the million-dollar question: is the eCommerce PunchOut Catalog just a value addition or a necessity?
It is more of a necessity in the competitive B2B eCommerce sector than a value addition. Here are all the reasons for it:
1. Competitive Edge
With thousands of VARs reselling almost the same products and services, having a unique and essential feature is a plus to thriving in a highly competitive landscape.
Yes, for some VARs, a PunchOut catalog is just a value addition, but for most online stores, it helps attract big clients that require PunchOut catalogs for their procurement systems. A PunchOut catalog integration enables you to get a competitive edge and thrive.
2. Your Target Audience
You can benefit significantly from a PunchOut catalog integration if your clientele primarily uses a PunchOut catalog for their procurement systems. It will save you and your buyers a lot of time and resources as the procurement process will be seamless.
3. Planning for Growth
The ultimate goal of any business is to grow, and a PunchOut catalog is a necessary feature that will contribute to your business’s growth. With a PunchOut catalog, you can provide a seamless shopping experience to your customers and drive other buyers to your store that are looking for online stores with PunchOut catalog software.
PunchOut catalog integration is more necessary than just a value addition in a competitive B2B eCommerce marketplace where sellers constantly add new features to enhance their online store. With multiple benefits for both buyers and sellers, it makes the procurement process easy, quick, and error-free.
To remain competitive and draw more customers to your store, you must have the best services and features available. It is essential to figure out which features are necessary and which are superfluous. PunchOut catalog integration is an essential feature as it makes the shopping experience for buyers effortless.
If you are looking for a reliable B2B e-commerce platform with PunchOut integration, VARStreet is highly recommended. Our PunchOut services include SAP PunchOut, Ariba PunchOut, Coupa PunchOut, Jaggaer PunchOut catalog, JD Edwards PunchOut catalog, and Peoplesoft PunchOut catalog. If you’d like to know more, our PunchOut specialists are available to assist you.
So what are you waiting for? Get started with your B2B eCommerce journey with VARStreet today and grow your B2B eCommerce business.