SharePoint vs OpenText: The Ultimate Purchase Order Automation Tool in Chandler

Given today’s competitive marketplace, companies of all sizes must discover ways to enhance efficiency and productivity, while cutting expenses wherever appropriate.

A great place to start is with business process automation (BPA). With BPA, you could expedite monotonous and time-consuming tasks, reduce the burden for your colleagues, and enhance your system by increasing efficiency and raising precision.

There are several processes and business fields that could make use of BPA. One of the most common adopters are Accounts Payable teams who can use BPA to automate invoicing, purchase order processing, and payroll.

In this piece, we’ll focus on purchase order automation - how it functions, why automation is a great fit for this area, and assess two of our favorite PO process automation software: Microsoft SharePoint and OpenText.

To begin, let’s discuss what purchase order automation is and how it performs.

What is Purchase Order Automation?

Automated purchase order solutions utilize business software equipped with artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) technology to automate the purchase order procedure.

Via automation, purchase requests can be produced in a few clicks from pre-formatted layouts, and transmitting functionality can deliver approvals directly to the supply chain vendor after the approval process is done.

This removes any need for manual involvement, paper filing systems, and makes the operation faster and more efficient.

The Purchase Order Process

Although the purchase order process might differ slightly from company to company, the following provides an excellent example of a standard, physical purchase order system.

Step 1: The first step is purchase order creation.

Step 2: Then another colleague will review and approve or reject the purchase order.

Step 3: After that, the purchase order must be forwarded to the contractor.

Step 4: Once finished, the organization will then receive its product or service.

Step 5: Then the company will receive the vendor invoice.

Step 6: The invoice should be verified and approved, and payment is delivered to the merchant.

Step 7: The last step of the purchasing process is to archive or file the associated documents to provide an audit trail.

This might not seem like a great deal of steps, but in order for this workflow to run efficiently, all parties from your AP personnel, to sales representatives, merchants, and executives, must all provide precise, prompt responses. Many firms can confirm that this is grueling.

There are many benefits to automating this procedure, which we’ll discuss in the next section.

The Benefits of an Automated Purchase Order Process

There are several benefits to implementing purchase order automation software for your organization. These include:

• Reduced Expenses

• Time Saved from Manual Processes

• Real-Time Visibility Into Operations

• A Quicker, More Optimized Purchasing Method

• Decreased Physical Error

• Greater Use of Human Resources

Now that we’ve reviewed what purchase order automation entails, the parts of the process that could be automated, and the advantages of purchase order software, let us now talk about a couple of our preferred automation options, Microsoft SharePoint and OpenText.

SharePoint vs OpenText

SharePoint Overview

SharePoint is an enterprise content management solution (ECM) that, at its core, is a tool for managing, collaborating on, and sharing material.

Having said that, with the inclusion of Microsoft PowerApps Power Automate, you can quickly modify SharePoint’s capabilities to include automation to most of your AP operations.

Pros

• Superb UX/UI

• Short learning curve for new users

• Metadata search aid searchability

Cons

• No integrated data imaging or capture feature

• Weak at following compliance guidelines in some sectors

• SharePoint Online is not designed to meet Enterprise ECM requirements

OpenText Overview

OpenText is also an ECM solution but offers powerful add-ons that enable organizations to automate processes, enhance organizational operations, and reduce the risk associated with administration and intellectual property.

Pros

• An excellent option for business with a high level of compliance

• Robust document filtering, management, classification, and access permissions

• OpenText Documentum adds case and inventory management capabilities to its feature set.

Cons

• Intricate UX/UI

• Usually requires expert configuration to ensure it satisfies business requirements

• Can be pricey for enterprise capabilities and add-ons

SharePoint & OpenText Pricing & Features Diagram

How Wave Can Aid You in Implementing Purchase Order Automation in Chandler

The reality is physical processes in your accounting framework basically slow your firm down, create hindrances and process headaches, and sooner or later hurt your development and adaptability.

Longer than necessary payment cycles can also lead to higher expenses associated with purchase order management and invoice processing, impede your transparency and control, and can add strain to your merchant connections.

At Wave, we can assist you in streamlining your accounts payable (AP) processes end-to-end, including data entry, purchase orders, procurement, invoicing, payments, approval process, and even file storage solutions.

We collaborate with Microsoft Dynamics, SAP, Netsuite, Oracle, in addition to ERP and ECM solutions like those we have examined in this piece and also Xerox, MFiles, Oracle, and more.

We can help you deploy your accounts payable automation software on-site, in the cloud, or in a hybrid model depending on your business regulations, budget, and compliance guidelines.

To learn more, connect with us immediately for a free consultation.