Buy-side Marketplaces vs eProcurement
There are over two hundred electronic procurement vendors out there. Punchout marketplaces with eInvoicing like those built by ST are challenging them. The competition is still promoting costly aggregated catalogs. Marketplaces seek to connect you to your strategic suppliers. Then you can leverage their existing eCommerce systems.
Marketplaces and eProcurement solutions have the same benefits. The fact is, a costly and complex e-Procurement solution is not needed. First there are large orders or orders from infrequently used suppliers. End-users can use your existing electronic requisitioning system or a p-card for them. Then there are repetitive buys from strategic suppliers. End-users can use our marketplace to punchout to suppliers' e-commerce sites. We support punchouts for cXML, OBI, and other standards. E-commerce sites are sophisticated, free, and supplier maintained.