Purchasing organizations can finally have more supplier choices and more control within their e-procurement system. That will go a long way towards helping them meet spend management and supplier onboarding objectives. - Lindsey Tanner, CEO, CoreXpand.com
Atlanta, GA (PRWEB) October 5, 2010
Purchasing departments can finally eliminate an enormous obstacle that interferes with three key purchasing goals: supplier enablement, maximum spend management, and return on their e-procurement software investment.
The obstacle is getting suppliers connected to the system, which can be complex and expensive. That is why it is often only the largest suppliers with the deepest pockets and technical resources who can "plug in".
This leads to limited choices for buyers, and less competition for the suppliers who are "inside". That can result in limited negotiating leverage for purchasing managers when it comes to price and service considerations.
Additionally, this limited number of 'enabled suppliers' severely limits one of the greatest benefits of e-procurement systems; streamlined and simplified purchasing methods and processes.
Buyers have to go through several extra steps, many of which are manual, in order to purchase from suppliers outside their e-procurement system. This adds time and labor to the cost of goods or services, which is counter-productive to spend management goals.
But a software company based in Atlanta called CoreXpand has solved those challenges and more by streamlining the way suppliers connect.
Their innovation represents a quantum leap in supplier enablement while also improving the buying/selling relationship within the framework of an e-procurement system.
What CoreXpand refers to as the "world's first and only multi-purpose PunchOut catalog" is unique among PunchOut solutions in several ways.
In addition to receiving a supplier catalog to add to their e-procurement system, purchasing organizations get access to an entire enterprise platform with software functions not found in other PunchOut products costing ten times more.
Built-in functions such as reporting, automated contract compliance (also called compliance management), and overspend protections give purchasing organizations greater supplier participation, visibility and accountability.
The CoreXpand solution effectively becomes an in-house tool; creating supplier-managed, buyer-controlled PunchOut catalogs that inherently increase the effectiveness of spend management objectives.
Yet even with all that expanded functionality, this new solution still manages to overcome the two most significant obstacles facing suppliers who want to connect to e-procurement systems; technical capability and cost.
CoreXpand has created a cloud based Software as a Service (SaaS) answer to supplier onboarding roadblocks; the CoreXpand PunchOut Wizard (TM). This online tool "levels the playing field" for suppliers of any size to connect to any e-procurement software, including the most common systems such as Ariba, PeopleSoft, Oracle, SAP, SciQuest, etc.
In just 8 straightforward steps (after a 4 step account activation), suppliers can create a fully functional, customized PunchOut catalog site compatible with your e-procurement system. Suppliers with basic computer skills can often complete the necessary steps, often eliminating the need to encumber valuable IT resources.
Besides technical limitations, an even bigger roadblock that prevents many suppliers from participating is cost.
The PunchOut Wizard (TM) delivers PunchOut catalogs at a fraction of the price of industry norms, even with the expanded functionality.
With technical and cost obstacles removed (or at least vastly reduced), purchasing organizations can not only solve supplier onboarding challenges, they can now enable more diversity program suppliers such as small, women, veteran, and minority owned businesses.
Also, the PunchOut Wizard (TM) doesn't just create PunchOut catalogs; it allows purchasing organizations to define them.
With a one-time setup, purchasing organizations can design their 'perfect PunchOut catalog'. Your organization can dictate the catalog layout, product categories, and preferred look-and-feel. You can even choose how the page functions.
The result is that every supplier PunchOut catalog generated by the wizard consistently conforms to the specific business needs of your purchasing organization.
"We've really changed the game for suppliers and buyers," states Lindsey Tanner, founder and CEO of CoreXpand. "Purchasing organizations can finally have more supplier choices and more control within their e-procurement system. That will go a long way towards helping them meet spend management and supplier onboarding objectives."
"And suppliers are really excited," continued Mr. Tanner, "because we're able to save them thousands of dollars and help them connect to any purchasing system with just a one time input of their catalog data."
For inquiries about the PunchOut Wizard (TM) or other e-commerce solutions, contact Lake Furney, Vice President of Marketing and Communications, at 1-678-303-0332. Or visit http://www.corexpand.com .
About CoreXpand, LLC:
CoreXpand simplifies online business for buyers and sellers by providing simple, affordable, and adaptable B2B ecommerce solutions that amplify sales, maximize spend management, and empower business growth.
For over 10 years, CoreXpand has provided cutting edge e-commerce solutions for buyers and sellers. They have processed billions of dollars in online transactions for a wide range of clients, including state and local governments as well as Fortune 500 companies .