SharePoint vs OpenText: The Ultimate Purchase Order Automation Tool in San Antonio

In the current competitive marketplace, firms of all shapes and sizes must develop ways to increase productivity and efficiency, while reducing costs wherever necessary.

One of the best places to start is with business process automation (BPA). Via BPA, you can simplify monotonous and time-consuming workflows, reduce the load on your team members, and upgrade your processes by developing productivity and amplifying precision.

There are a variety of tasks and business units that can take advantage of BPA. One of the most prevalent adopters are Accounts Payable units who can use BPA to automate purchase order processing, payroll, and invoicing.

In this piece, we’re going to hone in on purchase order automation - how it works, why automation is a perfect option for this area, and evaluate a couple of our favorite PO process automation platforms: Microsoft SharePoint and OpenText.

To start, let us talk about what purchase order automation is and how it functions.

What is Purchase Order Automation?

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

Through automation, purchase requisitions can be produced in a few seconds using pre-formatted layouts, and routing functionality can send authorizations directly to the supply chain dealer when the approval workflow is complete.

This eliminates any need for physical interference, paper filing methods, and makes the operation simpler and more efficient.

The Purchase Order Process

Though the purchase order process might look slightly different from business to business, the following offers a great example of a conventional, physical purchase order process.

Step 1: The first step is purchase order creation.

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

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

Step 4: Once completed, the organization will then obtain its product or service.

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

Step 6: The invoice will need to be verified and authorized, and payment is issued to the supplier.

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

This might not seem like many steps, but in order for this procedure to go smoothly, all parties from your AP team members, to sales agents, merchants, and managers, must all deliver accurate, timely responses. Many firms can confirm that this is easier said than done.

There are many advantages to automating these steps, which we’ll review in the following chapter.

The Benefits of an Automated Purchase Order Process

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

• Cost Savings

• Time Saved from Hand-Operated Tasks

• Real-Time Operational Visibility

• A Quicker, More Efficient Purchasing Process

• Decreased Manual Error

• Greater Use of Human Resources

Now that we’ve covered what purchase order automation entails, the aspects of the operation that could be automated, and the gains of purchase order software, let us now go over two of our preferred automation tools, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

SharePoint is an enterprise content management software (ECM) that in its base form, is a tool for managing, collaborating on, and distributing material.

Having said that, with the integration of Microsoft PowerApps Power Automate, you can easily customize SharePoint’s functionality to include automation to several of your AP processes.

Pros

• Superb UX/UI

• Short learning curve for new users

• Metadata search improves searchability

Cons

• No local information capture or imaging feature

• Weak at fulfilling compliance guidelines in some industries

• SharePoint Online is not made to handle Enterprise ECM requirements

OpenText Overview

OpenText is similarly an ECM platform but includes powerful add-ons that empower firms to automate workflows, improve business activities, and reduce the risk connected to governance and intellectual property.

Pros

• A better choice for compliance-heavy organizations

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

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

Cons

• Complicated UX/UI

• Often requires expert tuning to guarantee that it meets organizational needs

• Can be pricey for corporate capabilities and add-ons

SharePoint & OpenText Pricing & Features Comparison

How Wave Can Aid You in Implementing Purchase Order Automation in San Antonio

The fact is that manual processes in your accounting system just slow your business down, generate hindrances and process inefficiencies, and sooner or later hurt your progress and flexibility.

Extended payment cycles can also result in greater expenses associated with purchase order management and invoice processing, reduce your insight and control, and can damage your merchant relationships.

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

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

We can assist you in implementing your AP automation tool on-premises, in the cloud, or in a hybrid model based on your business regulations, budget, and compliance guidelines.

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