A large part of this growth is due to eCommerce website ‘Punch Out’ capabilities which allows you to integrate your eCommerce webstore with your customers eProcurement platforms.
This allows your buyer to shop on your ecommerce webstore from their eProcurement platform, with purchase order and invoice data automatically exchanged between you and customer. Traditionally eProcurement was restricted to large organisations with big budgets, due to the technology required and the costs involved. However, Technology has now evolved to the point where these sophisticated systems are available to smaller companies at affordable prices. Source 2023 U.S. B2B Ecommerce Market Report