The eProcurement market is surging. Companies large and small are implementing eProcurement systems at a record pace, and hundreds of vendors worldwide, led by market leaders Coupa, Ariba, SAP, Workday, Jagger, Oracle, iValua and Tradeshift are benefitting.
One of the three common processing scenarios may feel more relevant to your organization than the others. But truth be told, your organization is involved with all of them. How? In essence, we are buyers that procure resources, whether they are physical or virtual. We then go ahead and process them into products or services.
If selling to Global 2000 companies is something you do today or plan to do in the future, just having a B2B eCommerce store is no longer enough to meet the buying needs of these large corporations. But, if your B2B e-commerce store also supports PunchOut Catalogs (aka PunchOut, cXML PunchOut, Procurement PunchOut, Roundtrip), then online sales from Global 2000 companies could be yours for the taking.
To access the lucrative e-procurement channel, just having an e-commerce web store wasn’t enough; it has to be PunchOut-ready to support the e-procurement ordering process. That said, B2B sellers have three options for getting Punchout-ready.
B2B Market News
- Why PunchOut Catalogs and B2B eCommerce Sites are a Match Made in Heaven
- MRO Buyers Primed for New Suppliers
- Coupa-Aquiire Deal May Signal the ‘Start of True E-procurement for the Mid-market’
- Essential Guide to Ecommerce Punchout
- Amazon Business and Turning the Internet into the ‘World’s Largest Supplier Network’
- 7 Differences Between B2B and B2C eCommerce
- The Coming shakeout in Industrial Distribution
Want to learn more about PunchOut, e-Procurement and B2B e-Commerce as it relates to B2B sellers and the wholesale distribution industry? See below.