SaaS E-Sourcing Tools: is it safe to move the sourcing activities to the cloud-based solution?

Supplier and purchasing data are considered confidential information in the vast majority of companies. Sometimes “security concern” misconceptions force managers to postpone or even forget about the implementation of modern cloud-based E-Sourcing tools to the business processes of their companies.

But how appropriate is such a decision? Let’s figure it out

*SaaS (Software as a Service) E-Sourcing tool is a model in a framework of which the solution is provided off-the-shelf and hosted in the cloud

Misconceptions related to SaaS products are connected to the fact that cloud service providers store the data in their own data centers, and not on client servers. Because of this, the managers believe that confidential information can disappear or get to competitors at any time.

The distrust of some companies does not prevent SaaS sourcing solutions from developing, including the development in terms of data processing and data storing. Moreover, some small and medium-sized businesses are already moving their sourcing and procurement activities to cloud-based solutions. And they have a great list of solutions for consideration, starting from solutions for contract management, and ending with SaaS E-Sourcing tools for running RFPs, Reverse Auctions, Dutch Auctions, etc.

Why is it completely safe to store confidential information in the cloud-based E-Sourcing tool?

High standards of protection

Most of SaaS E-Sourcing solution providers utilize advanced data storage technologies. Small and medium-sized businesses do not have sufficient resources to develop a sourcing solution with an equal level of data protection on their own. Sustainable vendors have a network of data centers across multiple geographic locations, the security of which is much higher than any local asset: for example, in case of a blackout in a business center, the on-premise solution becomes unavailable. But an accident at one of the data centers of the cloud-based solution vendor will not limit the access to data for the company.

*On-premise solution is a system that is hosted on the client’s assets (computers and servers)

SaaS and On-Premise solutions comparison

SaaS vs. On-Premise E-Sourcing Tool Comparison

Cloud services involve the use of multi-level encryption and authentication systems to protect data from unauthorized access. In addition, the data will be secured if the customer’s hardware is harmed.

There exists a great misconception that if the data is stored in a customer’s data centers then it is 100% secured. It is not true. The data on the customer’s assets also can be stolen or harmed. Believing in this fact just provides the feeling of safety to the managers who do not trust storing the data on the vendor’s assets but not real security.

Transparency and control

Data in the cloud is visible only to authorized users who have access. Each of them instantly receives notifications about data changes: editing, deleting, copying, etc. It is impossible to do something with confidential data without “inheriting” it.

Permanent access

The network of geo-distributed data centers provides the users of cloud services with fast and stable access to the data on a 24/7/365 basis. The SLA signed with the provider guarantees convenient operations of a SaaS E-Sourcing tool, data safety, and financial compensation to the client in case of non-compliance with the terms of the contract.

Acquirell provides a reliable SaaS E-Sourcing tool that enables managers to reduce costs, enhance communication internally within a team, and externally within suppliers as well as establish more efficient procurement and sourcing activities. The solution can be adjusted to the unique business requirements of a customer. Practice special sourcing events: RFQs sent to all suppliers, complex multi-stage auctions, Dutch Auctions, etc. Get the best offerings from suppliers. Configure the algorithms as you want. Obtain the best prices.

Implement Acquirell for your business processes and enjoy utilizing a reliable SaaS E-Sourcing Tool!

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