Can PunchOut Catalog help to Boost Sales?
Yes, definitely! Suppliers who provide PunchOut catalog for their business buyers (B2B customers) have observed a dramatic improvement in their sales. Purchasing products without PunchOut is a time consuming and painstaking activity for B2B customer as it involves accessing the procurement system, followed by logging into the supplier’s site with the right credentials. The customer then has to search his contract catalog from the site and then look for products he wants to buy.
On the other hand, if PeopleSoft PunchOut catalog is implemented, the purchasing process is no longer a complicated one. Within a few clicks the customer is able to complete the buying process. For instance, with just a single click, the customer can reach the supplier’s store that displays your own Contract catalog. Here, you have to search and add products into the cart. Once shopping is done, again with a single click, the cart (order) returns to the customer’s procurement system. When the buyer gets the order approved from the higher authority, he has to just send a mail of order confirmation to the supplier.
This simplification of purchasing process works in favor of both the customer and the supplier as it helps to speed up the purchasing as well as the ordering process. This in turn can give a major boost to sales.
SciQuest PunchOut website is completely customizable and can be designed as per individual B2B customer requirements. So suppliers can also carry out special promotions and announcements of new products through PunchOut catalog solution. You can also showcase monthly discount offers and deals, which can also help to drive revenue.
Implementing upselling (related products) and cross-selling (complimentary products) is also possible through this catalog, which has shown to increase average order value. All this can help suppliers to outperform their sales.
On the whole, as a supplier if you want to rev up your B2B sales, make sure to provide PunchOut catalog solution to business buyers.