Trending articles

The Benefits of a SaaS IDP Solution for Procurement

Advancements in technologies, such as IDP cloud solutions, continue to change the B2B world profoundly. In our last blog article, we showed how IDP cloud solutions combine the best of intelligent document processing (IDP) with the best of cloud computing. Cloud computing comprises a wide range of services that aim to meet various IT needs of an organisation. One service model that operates in the cloud is Software-as-a-Service (SaaS). Procurement departments relying on the power of intelligent document processing can benefit immensely from document automation in the cloud. Procurement software needs to be efficient, future-proof, and agile, which are distinct advantages of a SaaS IDP solution.  

Share:

7 Main Advantages of SaaS IDP solutions for Procurement

1. Easy configuration

Unlike on-premise IDP solutions, SaaS IDP solutions allow users to connect to a ready-to-use system. As a result, companies do not require internal server infrastructure and implementation times are drastically reduced.    

2. No maintenance

The SaaS provider is responsible for maintenance and security-related aspects of the software, reducing the pressure on IT departments and providing users with peace of mind.  

3. Low costs

Companies do not have to install and run applications on their systems. This eliminates the need to invest in hardware and licensees and reduces the costs associated with maintenance and support. Users only pay for what they need and use. The initial setup costs for IDP SaaS solutions are also low, and implementation time is far quicker than for on-premise systems.  

4. High flexibility

IDP SaaS solutions afford users more flexibility than on-premise systems. For example, companies can subscribe to SaaS offers as required instead of purchasing licenses and installing the software on internal computers. In addition, SaaS IDP applications are provided over the web, which means users can access the software from any device or location, pending relevant permissions.

5. Easy scalability

Organisations can make greater use of individual services or functions if necessary. This is particularly important for companies growing rapidly or needing larger capacities for seasonal reasons. In addition, the Netfira Platform offers operational improvements along the P2P process, and users can easily configure more document types as the need arises.    

6. Work within a familiar environment

Teams can work within their familiar environment. There is no need to make disruptive changes to processes or systems as the system can adapt to the relevant requirements of the business.  

7. Relieve IT departments

As SaaS is web-based, users benefit from service providers updating the software automatically – often weekly or monthly. There is no ongoing requirement on IT to implement new releases or patches. Cloud-based document automation software means the IT department has an effortless involvement in the digitisation project, allowing them to focus on other tasks and duties.    

The Power of Intelligent Document Processing SaaS Solutions for Procurement

IDP cloud solutions – and above all IDP SaaS solutions – provide procurement with future-proof technology that enables the efficient automation of operational activities and processing of unstructured documents. Modern technologies and the demands of companies are changing rapidly. This unpredictability makes SaaS IDP solutions the right choice thanks to a higher flexibility and low costs compared to on-premise solutions. Considering all the advantages, SaaS IDP solutions prove to be a powerful alternative to on-premise solutions. Moreover, by automating procurement with a SaaS IDP solution, companies can concentrate on strategic business activities and achieve sustainable increases in operational efficiency. 

Internal IT requirements of the Netfira Platform

Download here

Webinar: Einführung in die Netfira-Plattform

Video anschauen



Return to blog

Trending articles

IDP Cloud Solutions – Combining the Best of Two Worlds

In B2B organisations, almost every operational process produces documents. Teams use documents to order goods or services and pay for them, sell and ship goods, file claims and account for things. Finally, documents are needed to report on the ordering, paying, shipping and accounting of goods or services. Procurement and sales departments, in particular, need to handle a vast array of document formats such as paper document, scanned documents, PDFs and images. Traditional automation solutions relying on OCR or EDI help procurement departments to stay on top of processing all the B2B documents but both technologies come with limitations and disadvantages.  

The good news is: Intelligent Document Processing (IDP) can overcome the limitations of traditional automation solutions. IDP solutions can not only identify but also interpret and analyse the data extracted from documents. IDP goes beyond simple automated data extraction to identify and understand key data points and classify the document type. It can then apply business rules to the extracted information, verify it and automatically export it into downstream systems.  

Even better news: The strengths of IDP solutions can be brought to the next level if they are not implemented as on-premise solutions but as cloud solutions. Operated in the cloud, IDP can unlock its full potential and innovate the way companies process documents. Read on to discover how choosing an IDP cloud solution means combining the best of two worlds.   

Share:

What Is Intelligent Document Processing?

Intelligent Document Processing (IDP) is based on advanced technology to digitise and automate unstructured data from B2B documents. Because it combines artificial intelligence (AI), machine learning (ML) and natural language processing, IDP can mimic human abilities when it comes to identifying, contextualising and processing documents. IDP uses AI, ML and human-in-the-loop automation to convert unstructured data into structured and actionable data. By relying on orchestration, the coordination of single automated tasks into a seamless and unified workflow, intelligent document processing takes automation to the next level.   

Intelligent Document Processing in the Cloud

Intelligent Document Processing is a powerful approach for automating B2B document flows. The IDP solutions’ strengths are brought to the fore even more when they are operated in the cloud. In contrast to on-premise IDP solutions, cloud IDP solutions prove to be more agile, flexible and simple. Therefore, intelligent document processing in the cloud is going to reshape the automation of documents and B2B communication.  

The Power of Cloud Solutions

Cloud computing is one of the most impactful technological advancements in corporate IT. Put simply, cloud computing refers to the availability of computing services over the internet. IDP solutions that operate in a cloud allow companies to lower operating costs, scale usage as required and reduce the need for IT teams to maintain software. Moreover, users benefit from customisation and flexibility as well as a high standard of security.  .  

Customisation: What Can Be Defined in the Cloud

The size: 

Depending on current needs and the market situation, users can adjust storage capacities and computing power effortlessly at any time. As an advantage, companies do not have to invest in local IT infrastructure. One of the main benefits of a cloud-based solution is its high flexibility. Changes can be made at any time with the push of a button. 

The content: 

The content of the cloud can be defined individually. Users decide which data is in the cloud. 

Control access and expand collaboration: 

Procurement needs to collaborate with business partners and suppliers. The cloud allows users to determine which content suppliers, partners and employees can access. 

The Cloud and Security

Cloud providers are responsible for security. The systems’ structures, resources and capacities are specifically designed for these requirements, making cloud-based solutions very secure and reliable. When choosing a service provider, it is essential to ensure that ISO guidelines are adhered to. Standardised norms such as ISO 27001, ISO 27017 and ISO 27018 define the handling and processing of highly sensitive data. 

Service Models of Cloud Computing

The term ‘cloud computing’ is not just about one offer but comprises a wide range of services that aim to meet various IT needs of an organisation. Some companies provide customers with a cloud, while others, like Netfira, provide a service model that operates in a cloud. The three main service models are Infrastructure-as-a-Service, Platform-as-a-Service and Software-as-a-Service.  

 Infrastructure-as-a-Service (IaaS): 

The service involves the provision of data centre infrastructure by a cloud provider. The resources are accessed via private or public networks. The components of the infrastructure provided include, for example, servers, computing and network capacities, communication devices such as routers or firewalls, storage space and systems for archiving and securing data.  

 Platform-as-a-Service (PaaS): 

This can be understood as a link between classic infrastructure services (Infrastructure-as-a-Service, IaaS) and application software from the cloud (Software-as-a-Service, SaaS). Cloud providers provide customers with a platform on which they can develop, operate and manage applications without worrying about the necessary infrastructure.   

 Software-as-a-Service (SaaS): 

Customers can access offerings hosted by a service provider over the internet. Users access the applications via a browser. Companies that use SaaS applications can change the configuration settings and adapt the software to their specific requirements within certain parameters. Like with other cloud services, organisations typically pay a monthly or yearly fee for SaaS applications. SaaS providers usually bill applications based on specific usage parameters, such as the number of people using the applications or the number of transactions. The Netfira Platform, which automates procurement and sales processes, is offered as a SaaS solution.  

IDP Cloud Solutions: The Dream Team for Procurement

IDP works best when operated in the cloud. Combined with the flexibility, scalability and customisation options of cloud solutions, IDP can turn simple automation into intelligent automation and process structured as well as unstructured document reliably and quickly. Read more about intelligent document processing in the cloud and discover the 7 benefits of a SaaS IDP solution for procurement in our next blog post.   

Return to blog