Punchout Catalogs - Why is Mike Tyson Involved in Purchasing?
Punchout catalogs are websites that are maintained by a procurement vendor, In this model that would be you. These websites are typically based on your eCommerce site (RemoteNet) and list the products offered and their associated prices. To create requisitions from these catalogs, agency customers “punchout” to the website from within the Buyer application (Lawson, Peoplesoft, MediClick , SAP etc) choose the items to purchase, and “punch in” the appropriate information to their requisition before the order is submitted. The Mike Tyson tie in is for a select few who remember the video game. He doesn't really have anything to do with it.
Benefits of Using Punchout Catalogs:
Reduced Data Entry Errors: Using a catalog makes purchasing easier for agency customers and vendors by pre-populating information (e.g., accounting) on the requisition.
Up-To-Date Information: Catalog pricing is regularly reviewed and updated by Purchasing Dept to confirm that agency customers are receiving the most recent state term pricing.
eCommerce-like Shopping Experience: Catalogs simplify the buying process by letting customers conduct product searches and comparisons
Simplified and Centralized Purchasing: By accessing catalogs in their own applications, agency customers can easily view state term pricing. Since all catalogs are centralized in one application, it also promotes purchasing consolidation and improved spend management visibility for your clients.
Improved Productivity: Using automated approval flows, customers can enhance productivity with reduced cycle times. Auto-populated fields also provide time savings.
Agency Customer Preference: Customers prefer catalogs (both line item and punchout) over manually entering requisitions in the system.
Punchout Also allows vendors to invoice the for payment electronically. Benefits to eInvoicing include the following:
- Reduced paper flow and associated costs;
- Reduced payment cycle time; and
- Improved data accuracy.
Ready to Play Punchout?
Or send a message to firstname.lastname@example.org