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

Given today’s competitive marketplace, companies of varying sizes must find ways to boost efficiency and productivity, while cutting costs wherever appropriate.

A great place to start is with business process automation (BPA). Via BPA, you can simplify tedious and time-consuming workflows, lessen the burden for your colleagues, and enhance your workflows by developing productivity and amplifying accuracy.

There are a variety of operations and business fields that could make use of BPA. Some of the most prevalent adopters are Accounts Payable teams who can use BPA to automate purchase order processing, payroll, and invoicing.

In this article, we’re taking a closer look at purchase order automation - how it works, why automation is a perfect solution 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 works.

What is Purchase Order Automation?

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

Through automation, purchase requests can be generated in a few seconds using pre-formatted layouts, and routing capability can send approvals directly to the supply chain dealer after the approval process is done.

This eliminates any need for human intervention, document filing systems, and makes the process smoother and more controllable.

The Purchase Order Process

While the purchase order process might look slightly different from organization to organization, the following offers a great example of a standard, by-hand purchase order process.

Step 1: The first step is purchase order creation.

Step 2: Then another team member will evaluate and approve or reject the purchase order.

Step 3: Then, the purchase order should be sent to the merchant.

Step 4: Once finished, the company will then acquire its service or product.

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

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

Step 7: The final step of the purchasing process is to file the relevant files to provide an audit trail.

This may not seem like a great deal of steps, but for this process to go smoothly, all participants from your AP personnel, to sales agents, vendors, and managers, must all provide correct, prompt responses. Most companies can confirm that this is grueling.

There are numerous advantages to automating this process, which we will review in the next chapter.

The Benefits of an Automated Purchase Order Process

There are many advantages to implementing purchase order automation tools for your business. These include:

• Cost Savings

• Time Saved from Physical Processes

• Real-Time Visibility Into Operations

• A Faster, More Optimized Purchasing Method

• Lessened Physical Error

• Improved Use of Human Resources

Now that we’ve reviewed what purchase order automation is, the parts of the process that can be automated, and the benefits of purchase order tools, let us now take a closer look at two of our preferred automation solutions, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

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

However, with the integration of Microsoft PowerApps Power Automate, you can quickly customize SharePoint’s capabilities to include automation to several of your AP processes.

Pros

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

• Minimal learning curve for new users

• Metadata search adds improved searchability

Cons

• No local information imaging or capture capability

• Struggles at fulfilling compliance requirements in a few sectors

• SharePoint Online is not made to fulfill Corporate ECM needs

OpenText Overview

OpenText is also an ECM solution but provides advanced add-ons that empower organizations to automate tasks, augment business functions, and lower the risk connected to administration and intellectual property.

Pros

• An excellent alternative for companies that must adhere to strict regulations

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

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

Cons

• Complex UX/UI

• Usually requires professional tuning to guarantee that it satisfies business needs

• Can be expensive for corporate capabilities and add-ons

SharePoint & OpenText Pricing & Features Comparison

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

The truth is physical processes in your accounting system just slow your firm down, cause logjams and process headaches, and ultimately hurt your progress and adaptability.

Extended payment cycles can also contribute to higher expenses associated with purchase order and invoice processing, impede your insight and control, and can disrupt your supplier relationships.

At Wave, we can help you to streamline your accounts payable (AP) processes thoroughly, including data entry, purchase orders, procurement, approval process, invoicing, payments, and even file storage platforms.

We collaborate with Microsoft Dynamics, SAP, Netsuite, Oracle, in addition to ECM and ERP solutions like the ones we’ve discussed in this piece and also Xerox, MFiles, Oracle, and much more.

We can assist you in implementing your accounts payable automation software on-site, in the cloud, or in a hybrid framework depending on your business regulations, budget, and compliance requirements.

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