A hosted catalog is an online catalog of products and services offered by suppliers. This catalog is hosted on the supplier’s website and is accessed by buyers to compare different products and services offered by suppliers. The hosted catalog also allows buyers to purchase goods and services directly from the supplier’s website, eliminating the need for manual data entry and reducing errors. Additionally, hosted catalogs are often integrated into existing procurement systems, making it easier to manage and track the entire purchasing process.
How do hosted catalogs work?
Hosted catalogs work by allowing buyers to access and select products and services from a supplier’s website or catalog. Once selected, the products and services can be automatically added to the buyer’s own procurement system. The hosted catalog process also allows buyers to compare different suppliers’ prices and services, and make informed decisions about their purchases. Additionally, hosted catalogs can be integrated into existing procurement systems, making it easier to manage and track the entire purchasing process.
What are the advantages of a punchout?
The advantages of a punchout include: