Is It Time For A Punchout Site?
Introduction
As a buyer, you probably already know what a punchout site is. The term refers to an electronic store that allows you to create a shopping cart of items through your supplier’s site and have them approved through your procurement platform. Once approved, the order is automatically fed back into the system of record and processed by the supplier. Punchout sites are relatively common in industries where there are many companies supplying similar products, such as computers or office supplies (and even in some instances where there aren’t). But what if you’re not buying from suppliers that offer punchouts? Consider implementing your own! Here’s why:
