Chances are very high that you’ve landed on this blog post because a customer has requested (or even mandated) that you connect to their eprocurement system via a punchout catalog. As a savvy business person, you’re conducting the cost vs. benefit analysis to see if punchout catalogs make sense. Isn’t complex ecommerce for big companies? Is it worth it for your small business?
Some real talk here. The answer is absolutely yes AND it depends. Let’s unpack that a bit.
Here’s how implementing a punchout catalog benefits your small business.
Being Punchout Capable Helps You Attract Other Big Customers
Punchout technology doesn’t just benefit buyers. Punchout capability attracts customers of all sizes—those for whom punchouts are a requirement in RFPs and even those who may not be requesting punchout catalogs yet. Being punchout-capable can unlock new business opportunities and provide entry to entirely new markets, in addition to helping close bigger deals.
Punchout Makes Your Small Company Stickier
Buyers know that using an eprocurement system helps them streamline purchasing, adhere to their organization’s rules, and save money. But punchout catalogs also streamline processes for you as a seller by creating a digital pipeline for your incoming orders.
Punchout Catalogs Streamline the Buying AND the Selling Process
Punchout is how your buyer prefers to buy. Being one of the few vendors who has the ability to sell to your largest customers, in the way they prefer to buy, puts you on the “preferred-preferred vendors” list. Once you’ve connected to your customer with a punchout catalog, you’re connected to their buyers. With punchout, you can deliver a secure, hassle-free way for them to buy from your company. Punchout capability can also lead to more sales with existing customers by providing exposure to new users in the organization. Once you’re integrated with punchout, you’re more likely to retain the contracts with your customers.
Now you know a few of the ways that punchout catalogs are worth it for your small business. And what about the “it depends”? Punchout catalogs and punchout integrations are not all the same, so you’ll need to make sure you work with a punchout provider who has experience working with a variety of ecommerce systems so they can set you up for success.
If you’d like to dive deeper into punchout catalogs, please read our Punchout Catalogs 101. For an even deeper dive, take a look at our easy-to-understand explanation of Level 2 Punchout. You can also download our ebook, So Your Customer Wants Punchbout. Now What?