With a one-time setup, any purchasing organization which uses e-procurement software can define their "perfect PunchOut".
Atlanta, Georgia (PRWEB) November 30, 2011
Purchasing managers who use e-procurement systems are breathing a collective sigh of relief, as a remarkable technological innovation is solving age-old supplier onboarding and enablement problems.
The solution, called the PunchOut Wizard, is part of a proprietary technology platform known as PunchOutCX.
CoreXpand, the veteran e-commerce company behind this innovation, says the response has been extremely enthusiastic. "Given the normal complexities of supplier onboarding and enablement, it's no wonder purchasing managers and buyers alike have embraced [the PunchOut Wizard]", stated Lindsey Tanner, founder and CEO of CoreXpand.
"I'd call it more like chaos", a former purchasing professional said, describing the daily stresses of managing the e-procurement systems used by large purchasing organizations.
According to several purchasing managers who have spoken to CoreXpand, the hassles comes from working with suppliers to get their product and pricing data formatted and entered into the e-procurement system properly.
For most suppliers, all of that work results in basic "line item" catalog formats, which can be cumbersome and limited in information for buyers trying to locate products.
For these types of catalogs, also referred to as "hosted" catalogs, even when the catalog is finally loaded, the hassle doesn't end. That's because any minor change to product or price must be reformatted, resubmitted, and reloaded into the system.
One solution is PunchOut catalogs, which present products and prices in a more user friendly "online store" type of environment. But these can be even more difficult to "get right" inside the e-procurement system.
But according to the happy customers, the PunchOut Wizard is putting an end to all those headaches.
With a one-time setup, any purchasing organization which uses e-procurement software can define their "perfect PunchOut". From there, any authorized supplier can login to a simple online interface and, after completing eight simple steps, the PunchOut Wizard delivers a stable, perfectly formatted PunchOut catalog that is completely in sync with the business processes and preferences of the purchasing organization.
"It's never been easier to onboard and enable suppliers to participate in a company's e-procurement system. This allows companies to really maximize their investment in their e-procurement system.
We've even taken out the risk associated with PunchOut catalogs by incorporating buyer controls so they don't get product or pricing surprises. Just that little feature alone saves them time, money, and hassle by eliminating the need for manual or third party audits", stated Tanner.
Some state government purchasing organizations have been taking advantage of the PunchOut Wizard, and it looks like it's only a matter of time before it catches on in the private sector.