Unleashing Oracle Fusion Punchouts’ Potential in B2B Ecommerce
Oracle Fusion Punchouts Integration is a cloud-based platform for managing, integrating, and monitoring digital assets. It offers a comprehensive set of tools for connecting ecommerce and enterprise applications. The Punchouts approach has numerous benefits for both suppliers and buyers, the most significant of which is that if an organisation uses enterprise-grade software to manage purchases, such as an ERP or CRM, the buyer and its employees can order products from online stores such as Amazon without leaving the buyer’s e-procurement system. More efficient and effective purchasing capability.
How does it work
The buyer can browse and search for the seller’s products within the internal e-procurement system before ordering and purchasing the selected supplies online. The procedure includes the following steps:
- The buyer opens their B2B e-procurement platform and searches for a supplier.
- When a buyer finds and selects a supplier, the platform directs the user to the supplier’s e-commerce store or B2B marketplace. The system authenticates and logs the buyer into their account in the supplier’s online store.
- The buyer selects products from the seller’s catalog in the same way that they browse the seller’s website. Custom product catalog and discounts can be provided by the supplier to the buyer. The buyer is adding products to their cart in the same way that they would in an actual online store.
- Instead of checking out, the buyer punches out after adding all of the required products to the cart. It means that the system sends order data to the buyer’s e-procurement platform for approval.
- After the purchase order is approved in the buyer’s e-procurement platform, the system creates a purchase order in the supplier’s ecommerce store and initiates the normal product delivery procedure.
Present products and services with photos, co-branding, customized promotions, recommended selections, pre-negotiated pricing, and more:
- Provide one-click shopping so you can receive and respond to orders faster
- Control the product information each customer sees, such as pricing, inventory, and branding
- Use your merchandising team’s expertise to boost upsells, cross-sells, and order quantity
- Conduct buyer-specific, closed-loop testing to ensure a seamless, tailored customer experience
- Provide customers with quotes and custom SKUs, as well as the convenience of catalogue shopping.
If you sell complex, service-oriented, or highly configurable product offerings; have a large catalogue with many SKUs and line items; sell goods that require constant updates on price, description, and content; or have a high number of transactions, Punchouts features can be useful.
Integration of Oracle Fusion Punchouts in procurement applications can provide several business benefits, including:
- Simplified procurement process: Punchouts enable procurement teams to access supplier catalogues and complete transactions directly within the procurement application, eliminating the need to switch between multiple systems.
- Increased data accuracy: Punchouts can ensure that the most up-to-date pricing, availability, and product information is used in procurement transactions, lowering the risk of errors and increasing procurement data accuracy.
- Greater visibility: By integrating with suppliers’ systems, procurement teams can gain a more complete view of supplier catalogues, pricing, and inventory levels, allowing them to make more informed procurement decisions.
- Improved supplier collaboration: Punchouts can help procurement teams and suppliers collaborate by allowing them to work together in real time on a common platform.
- Increased efficiency: Punchouts can significantly increase procurement operations’ efficiency by automating many of the manual processes involved in procurement, such as catalogue updates and order placement.
Companies can use a variety of metrics to assess the effectiveness of punchouts and the return on investment (ROI) on their implementation, including:
- Time Savings: To determine the efficiency and productivity benefits of punchouts, companies can track the time saved by using punchouts versus manual procurement processes.
- Accuracy and Data Management: To assess the impact of punchouts on data management, companies can assess the accuracy and completeness of procurement data, including order information and delivery status.
- Supplier Satisfaction: Companies can assess supplier satisfaction by surveying suppliers and assessing the ease and efficiency of procurement processes using punchouts.
- Procurement Costs: Businesses can track procurement costs, such as labour and materials, to determine cost savings and ROI from punchouts.
- Compliance and Audit: Companies can evaluate the impact of punchouts on compliance and audit data, such as purchase order information and invoices.
Businesses can use these metrics to evaluate the impact of punchouts on their procurement process as well as the ROI of their implementation. Businesses can also use these metrics to continuously improve their punchout processes and ensure that they are meeting business requirements.
Using Oracle Fusion Punchouts in procurement applications can help organisations improve the efficiency, accuracy, and visibility of their procurement operations, resulting in cost savings, increased supplier collaboration, and better decision-making.
To qualify the need for Punchouts:
Companies can assess their current procurement process, identifying areas for improvement and weighing the potential benefits of punchouts for their organisation. Furthermore, businesses can consider the number and complexity of suppliers, the volume of purchases, and the level of manual effort required for procurement processes. Based on the results of this evaluation, a company can determine whether punchouts are a viable solution for meeting business needs and improving the procurement process.
Discover the benefits of punchouts for your business:
- Schedule a consultation
- Ready to streamline your procurement process? Request a quote for punchout integration.
- Take the next step in optimizing your procurement system: Book a free punchout assessment.
- Join the many organizations reaping the benefits of Punchouts: Schedule a call with our experts.