Strategic partnership will streamline procurement and reduce costs for B2B marketplace operators via integration of punchout functionality with eProcurement and ERP platforms
Mirakl, the industry’s first and most advanced enterprise marketplace SaaS platform, and PunchOut2Go, an agnostic Integration Platform as a Service (iPaaS) that transforms data interchange between eCommerce and eProcurement technologies, today announced a strategic partnership to pair PunchOut2Go’s eProcurement and B2B automation with Mirakl’s best-of-breed enterprise marketplace technology. Through the partnership, B2B marketplace operators can incorporate punchout catalog functionality into Mirakl-powered Marketplaces, enabling the seamless integration of eProcurement and enterprise resource planning (ERP) platforms to increase access to B2B digital buyers and improve purchase experiences.
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Last year saw B2B eCommerce adoption accelerate by 10 years in a matter of months, further solidifying B2B buyers’ expectations for a digital-first purchasing experience. Moreover, a Q4 2020 survey from McKinsey found that 90 percent of B2B decision-makers expect the dominance of digital sales to persist after the COVID-19 pandemic. In this new world of B2B purchasing, the online marketplaces that can easily integrate into eProcurement processes will quickly become the new leaders.
Using the PunchOut2Go cloud integration platform, Mirakl-powered Marketplace operators can support and embrace functionality such as punchout catalogs, purchase order automation, and electronic invoicing. B2B buyers can integrate marketplaces with their eProcurement and ERP platforms, and B2B sellers can offer more personalized purchasing methods to buyers with eProcurement platforms to digitally transform how they procure. For example, in wholesale industrial supply, one marketplace may be serving multiple customer segments with unique catalogues and pricing tiers. Through this integration, customers can quickly and easily find the products they want at their negotiated prices – optimizing their productivity while delivering a seamless experience.
“This integration unlocks an essential growth channel in B2B eCommerce, simplifying and enabling the procurement process for B2B marketplace operators, buyers, and sellers alike,” said, Brady Behrman, CEO, PunchOut2Go. “By combining forces with Mirakl, we’re offering the only comprehensive solution for businesses that want to take full advantage of the B2B marketplace opportunity, empowering procurement users to procure the goods necessary to run their business as they are digitally transforming how they purchase. As the first and most advanced enterprise marketplace technology on the market, there was no question that PunchOut2Go would choose to partner with Mirakl, also commerce agnostic.”
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This partnership announcement follows a record-breaking year of 110 percent revenue growth for Mirakl-powered Marketplaces, which saw a total of $3.1B transacted through the marketplaces in 2020. In that time, Mirakl also supported the launch of 55 enterprise marketplaces, including Global 2000 B2Bs such as ABB, Airbus Helicopters, Thales, and Z-Tech (part of ABInBev).
“The B2B enterprise marketplace opportunity is nearly boundless, but for these marketplaces to deliver on their promise, they have to be aligned to the way that B2B buyers and sellers operate today,” said Adrien Nussenbaum, co-founder and U.S. CEO, Mirakl. “This partnership with PunchOut2Go represents one of the essential investments that Mirakl will make in 2021 as we continue to develop the industry’s best and most advanced marketplace solution for B2B organizations.”