Most institutions such as hospitals, universities, and corporations use procurement software to keep a check on their financial spending. A punch out catalog is important for e-procurement. Every time an institutional buyer (such as a facilities manager) wants to purchase any item from a supplier, he should use the procurement system.
A Punchout Catalog is an e-commerce website which helps him do so. In other words, to buy an item with the approval of management, the buyers need to connect to the procurement application through a Punchout Catalog. For instance, a facilities manager and a lab technician may place an order for floor cleaners and beakers, respectively.
HOW IT WORKS?
The Punchout Catalog communication uses a universal standard named Commerce Extensible
Markup Language (cXML) which is created to carry on electronic transactions in a quick and effective way. In fact, both the punch out services and cXML were created by the cxml.org group.
Whenever a buyer logs in to your Punchout Catalog, he can add items to his shopping cart. Once he is done, he can click on the checkout button and his shopping cart is transferred back to the procurement application.
BENEFITS OF A PUNCHOUT CATALOG
1. An Enhanced Shopping Experience
Rather than appearing as a grid layout as in a hosted catalog, a Punchout Catalog looks exactly like a website giving the users a familiar look. This provides a better shopping experience.
2. Electronic Purchase Orders and Invoices
Using a Punch out service, a buyer allows you to …