Punchout catalog or more commonly spelled as punch out catalog is an IT concept that allows intercommunication between computer applications of a company and its supplier. It is an e-procurement solution where the buyer can access the supplier’s catalog without leaving his or her own interface.
What is a punchout catalog? To explain it in nonprofessional’s term, a customer will unknowingly be able to punch out of their procurement application, enters the supplier’s original site, gets open the catalog and add items to the shopping cart.
With this set-up, the buyer can order seamlessly and will not know they are using the suppliers’ site catalog. The whole process will not have the customer open another site and instead they can choose and add the items using their own e-procurement system
Technically, the punch out catalog is an online vendor catalog enhanced with an open catalog interface to maintain PunchOut Procurement that is connected PunchOut website. The application provides the direct connection between the e-procurement system of the buyer and the supplier’s store. It is also a convenient way for the customers to view supplier’s catalogs and order from their own e-procurement system.
https://www.punchoutcatalogsgt.com/Understanding the punch out catalog
Every time a customer leaves a buyer’s website, the punch out will send a login request and immediately connects both the buyer’s and the supplier’s systems. The store will display the items, description, prices and the rest of the information required when making a purchase. Once the customer has made their buying decision, they will add this to their shopping cart. The information on the shopping cart is directed to the buyer’s system and will become a requisition. It will undergo the standard company procedures on procurement and financial approvals. The purchase order is sent to the buyer after its approval.
Punch out Procurement, punch out website & catalog
There are two terms that are mentioned in the description of punch out card, one is Punch Out procurement and the other is PunchOut Website. The punch out website is an e-commerce site that allows the buyer to buy from a supplier’s website using his or her own procurement application. The Punchout Procurement in on the other hand summarizes the communication that happened during the transaction. It can be a business-to-business transaction, a business-to-customer or a business to government.
There was also a mention of supplier catalog but this needs no further description. A catalog is a supplier’s listing of items for sale.
PROS and CONS
A Punch out website remove the need for the buyer to import a large amount of supplier’s catalog into their own procurement system that can save time and money. It allows the display of pricing, quantity of the items and availability in real-time. It also offers accuracy and speed of order processing, which is very important in gaining customer’s satisfaction and loyalty.
On the other hand, this system has its drawback, as it will not give the opportunity for the buyer to compare prices among several suppliers. The system cannot manage the entire flow of order like an acknowledgment of receipt, billing etc.