Today, even when e-procurement is on its heels, finding out a sustainable delivery method has become an essential factor. In order to achieve efficient e-procurement processes, it is essential to have a cloud-based platform where the data can be accessed anywhere, anytime. Based on various case studies, it is concluded that cloud procurement, when implemented appropriately, proves to be the most economical form of using SaaS (Software as a Service). Added to this, procurement on cloud ensures 24/7 uninterrupted services, which offers its own benefits.
It is a known fact that procurement processes run between buyers and vendors, companies and subsidiaries for 24 hours a day and 7 days a week. Purchasing has a great role to play therefore, it is highly advantageous to avail the central infrastructure that eases the purchasing processes. Below given are the key components that one has to consider while implementing an end-to-end cloud procurement.
Understand Different Types Of Cloud Models
As various types of cloud service models are available in the market, it is extremely important to know, which model suits better for thy requirement. Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS) are different approaches to procure, manage and secure the process. Hence, it is imperative for companies to consider each and every factor that affects the procurement cycle and create a suitable approach for each model.
Security, Privacy, and Auditing
Integrating industry’s best security and privacy in the cloud models ensure that logical and physical control is in its place thus preventing the burdensome processes, which is not justified by compliance needs and real risk. Normally, in Infrastructure as a Service (IaaS) model, customers control the security of the applications and data put on the cloud while service providers are responsible for offering highly secured and controlled cloud platform integrated with an array of security features.
Most of the procurement industry experts believe that the future of purchasing will be in the cloud due to its unbeatable benefits such as real-time data transfer, which maximizes the business potential. People involved in the process can be found in all sizes, which results in developing the network in the broad spectrum.