SharePoint vs OpenText: The Best Purchase Order Automation Platform in Gilbert

In the current competitive landscape, firms of varying sizes must discover ways to boost efficiency and productivity, while cutting expenses wherever appropriate.

One of the best places to start is with business process automation (BPA). Via BPA, you can expedite monotonous and time-consuming tasks, lessen the stress on your colleagues, and improve your system by increasing productivity and amplifying accuracy.

There are a variety of tasks and business sectors that could benefit from BPA. One of the most common adopters are Accounts Payable teams who can use BPA to automate payroll, invoicing, and purchase order processing.

In this article, we’re going to hone in on purchase order automation - how it works, why automation is a great solution for this area, and compare two of our preferred PO process automation platforms: Microsoft SharePoint and OpenText.

To begin, let’s go over what purchase order automation is and how it functions.

What is Purchase Order Automation?

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

Through automation, purchase requests can be produced in a matter of seconds using pre-formatted templates, and forwarding functionality can deliver approvals directly to the supply chain vendor once the approval workflow is complete.

This removes the need for physical intervention, document filing systems, and makes the operation faster and more controllable.

The Purchase Order Process

Although the purchase order process can differ from one business to the next, the following provides a good example of a conventional, hand-operated purchase order system.

Step 1: The first step is purchase order creation.

Step 2: Then another staff member will assess and approve or reject the purchase order.

Step 3: After that, the purchase order should be routed to the merchant.

Step 4: Once filled, the organization will then acquire its service or product.

Step 5: The organization will then get the vendor invoice.

Step 6: The invoice must be reviewed and approved, and payment is issued to the supplier.

Step 7: The final step of the purchasing procedure is to archive the relevant records to generate an audit trail.

This may not seem like a lot of steps, but in order for this procedure to go smoothly, all individuals from your AP personnel, to sales agents, merchants, and managers, must all provide precise, prompt responses. Many organizations can confirm that this is easier said than done.

There are many advantages to automating these steps, which we will explore in the next chapter.

The Advantages of an Automated Purchase Order System

There are numerous advantages to utilizing purchase order automation tools for your organization. These include:

• Cost Savings

• Time Saved from Manual Processes

• Real-Time Visibility Into Operations

• A Faster, More Efficient Procurement Procedure

• Reduced Physical Error

• Improved Human Resource Utilization

Now that we’ve reviewed what purchase order automation is, the elements of the operation that could be automated, and the advantages of purchase order tools, let’s now talk about a couple of our favorite automation tools, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

SharePoint is an enterprise content management solution (ECM) that in its base form, is a tool for handling, collaborating on, and distributing data.

Having said that, with the integration of Microsoft PowerApps Power Automate, you can easily modify SharePoint’s capabilities to incorporate automation to many of your AP procedures.

Pros

• Fantastic user experience and user interface (UX/UI)

• Minimal learning curve for new users

• Metadata search optimizes searchability

Cons

• No integrated information imaging or capture feature

• Weak at meeting compliance standards in some industries

• SharePoint Online is not made to meet Enterprise ECM requirements

OpenText Overview

OpenText is similarly an ECM platform but includes advanced add-ons that empower organizations to automate processes, enhance organizational operations, and lower the risk related to management and intellectual property.

Pros

• An excellent option for compliance-heavy organizations

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

• OpenText Documentum expands its features with case and inventory management functionality.

Cons

• Complicated UX/UI

• Often demands specialist tuning to ensure it satisfies business needs

• Can be pricey for corporate features and add-ons

SharePoint & OpenText Pricing & Features Diagram

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

The fact is that hand-operated workflows in your accounting system just slow your business down, create bottlenecks and process headaches, and sooner or later hurt your development and adaptability.

Longer than necessary billing cycles can also contribute to greater costs associated with purchase order management and invoice processing, reduce your insight and control, and can damage your merchant partnerships.

At Wave, we can aid you in optimizing your accounts payable processes thoroughly, including purchase orders, procurement, data entry, payments, approval process, invoicing, and even document storage tools.

We work with Netsuite, Microsoft Dynamics, SAP, Oracle, as well as ERP and ECM solutions like the ones we have discussed in this article and also Oracle, Xerox, MFiles, and more.

We can help you deploy your AP automation tool on-site, in the cloud, or in a hybrid concept based on your business rules, budget, and compliance requirements.

To find out more, connect with us today for a free consultation.