SharePoint vs OpenText: The Best Purchase Order Automation Platform in Fort Wayne

Given the current competitive marketplace, firms of varying sizes must discover ways to increase productivity and efficiency, while cutting costs wherever appropriate.

An excellent place to begin is with business process automation (BPA). Through BPA, you can simplify tedious and taxing processes, ease the burden for your colleagues, and upgrade your system by adding efficiency and amplifying accuracy.

There are a variety of processes and business fields that could take advantage of BPA. Among of the most frequent adopters are Accounts Payable teams who can utilize BPA to automate invoicing, purchase order processing, and payroll.

In this post, we’re taking a closer look at purchase order automation - how it functions, why automation is a great option for this area, and assess a couple of our favorite PO process automation software: Microsoft SharePoint and OpenText.

To begin, let us talk about what purchase order automation is and how it performs.

What is Purchase Order Automation?

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

Through automation, purchase requests can be created in a matter of seconds using pre-formatted templates, and forwarding functionality can send approvals straight to the supply chain dealer after the approval process is done.

This eliminates any need for manual interference, record filing systems, and makes the operation smoother and more controllable.

The Purchase Order Process

Although the purchase order process can differ slightly from one company to the next, the following provides an excellent example of a conventional, physical purchase order system.

Step 1: The first step is to create a purchase order.

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

Step 3: Following that, the purchase order should be forwarded to the vendor.

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

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

Step 6: The invoice should be examined and confirmed, and payment is released to the supplier.

Step 7: Then the final step of the purchasing procedure is to archive or file the relevant records to provide an audit trail.

This may not seem like a lot of steps, but in order for this workflow to go smoothly, all participants from your AP personnel, to sales agents, suppliers, and managers, must all provide correct, timely responses. Several firms can attest that this is way harder than it sounds.

There are several benefits to automating these steps, which we’ll explore in the next section.

The Advantages of an Automated Purchase Order Process

There are several advantages to adopting purchase order automation software for your company. These include:

• Reduced Expenses

• Time Saved from Physical Tasks

• Real-Time Visibility Into Operations

• A Faster, More Streamlined Procurement Process

• Reduced Manual Error

• Improved Human Resource Utilization

So, now that we’ve reviewed what purchase order automation entails, the parts of the operation that could be automated, and the benefits of purchase order solutions, let’s now talk about two of our preferred automation options, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

SharePoint is an enterprise content management platform (ECM) that, at its core, is a tool for handling, collaborating on, and distributing material.

However, with the addition of Microsoft PowerApps Power Automate, you can easily adapt SharePoint’s features to enable automation to several of your AP processes.

Pros

• Superb UX/UI

• Minimal learning curve for new users

• Metadata search optimizes searchability

Cons

• No integrated information imaging or capture feature

• Struggles at meeting compliance requirements in a few sectors

• SharePoint Online is not made to fulfill Enterprise ECM needs

OpenText Overview

OpenText is also an ECM solution but offers advanced add-ons that enable organizations to automate workflows, enhance business functions, and lower the risk associated with governance and intellectual property.

Pros

• A better alternative for companies that must adhere to strict regulations

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

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

Cons

• Complex UX/UI

• Typically demands specialist configuration to guarantee that it fulfills business requirements

• Can get costly for corporate capabilities and add-ons

SharePoint & OpenText Pricing & Features Analysis

How Wave Can Aid You in Implementing Purchase Order Automation in Fort Wayne

The reality is manual processes in your accounting framework basically slow your firm down, generate hindrances and process inefficiencies, and ultimately hurt your growth and adaptability.

Prolonged payment cycles can also lead to greater expenses associated with purchase order management and invoice processing, limit your visibility and control, and can add strain to your vendor relationships.

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

We work closely with Netsuite, Microsoft Dynamics, SAP, Oracle, and ECM and ERP systems like the ones we have examined in this piece and also MFiles, Oracle, Xerox, and much more.

We can assist you in implementing your AP automation software on-site, in the cloud, or in a hybrid concept based on your organizational regulations, budget, and compliance guidelines.

To discover more, contact us immediately for a free consultation.