A PunchOut provides a way to connect directly to vendors’ catalogs. By using a procurement software to set up PunchOuts, buyers have the ability to order directly through the web. Given all the benefits that this type of system can provide, it’s not surprising that usage of PunchOuts has seen an increase of 31% over just the last year.
While that is a notable amount of growth, many businesses still aren’t utilizing this system. When asked why, one of the most common responses is that businesses are concerned that the process of setting up this type of system is going to take too much time or require a large amount of resources. Although it is true that some setup is required, the process is simpler than most businesses expect. And given all the benefits of having PunchOuts in place, it’s an investment that businesses end up being very happy they made.
Whether you’re already on board with this concept but need some concrete points to help build your case or you’d like to know more about exactly what can be gained from PunchOuts, we want to take a look at look at the exact benefits that this practice can provide to a business:
No Maintenance Required for Purchasers
Once you get PunchOuts set up, you won’t have to worry about any ongoing maintenance. The reason is because any required catalog maintenance will be handled by the supplier. Since this isn’t something that your business will have to spend time doing, it will save you both time and money.
More Detailed Information
Not only are PunchOut catalogs really convenient, but they’re also very useful. Since being online means it’s easier for suppliers to properly maintain these types of catalogs, they provide purchasing managers with more detailed information. From current discounts to correct shipping costs, the fact that suppliers can do real-time updates is something that’s quite helpful for buyers.
Centralized and Simplified Purchasing
In addition to concerns about setting up PunchOuts, one of the other hesitations that purchasers have is that this system will get in the way of them being able to negotiate. However, thanks to the fact that negotiated prices can be hooked directly into the system, PunchOuts actually provide a way to promote purchasing consolidation, which in turn helps to maximize spend management.
Save Time and Increase Productivity
Since most purchasing managers already have a lot on their plate, there’s no reason that they should be spending their valuable time trying to navigate broken systems. By making the transition to PunchOuts, buyers will be able to save time, increase their productivity and focus their energy on the types of tasks that will have a very positive impact on the business as a whole. Bellwether Purchasing Software can help you make this transition easier. Contact us today to learn more.