SharePoint vs OpenText: The Best Purchase Order Automation Tool in Saint Paul

In the current competitive marketplace, companies of varying sizes must discover ways to boost efficiency and productivity, while cutting costs wherever appropriate.

An excellent place to begin is with business process automation (BPA). Through BPA, you can simplify monotonous and time-consuming workflows, lessen the stress on your staff, and improve your system by increasing efficiency and boosting accuracy.

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

In this piece, we’re going to hone in on purchase order automation - how it operates, why automation is a great fit for this area, and compare two of our favorite PO process automation tools: Microsoft SharePoint and OpenText.

To start, let us go over what purchase order automation is and how it performs.

What is Purchase Order Automation?

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

With automation, purchase requisitions can be created in a matter of seconds using pre-formatted templates, and transmitting capability can send authorizations directly to the supply chain contractor when the approval workflow is finished.

This removes any need for manual interference, paper filing methods, and makes the operation faster and more controllable.

The Purchase Order Process

Though the purchase order process can differ slightly from business to business, the following provides an excellent example of a typical, 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 sent to the vendor.

Step 4: Once completed, the company will then receive its service or product.

Step 5: The vendor invoice will thereafter be received by the firm.

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

Step 7: The final step of the purchasing procedure is to archive or file the associated records to create an audit trail.

This may not seem like a lot of steps, but for this procedure to go smoothly, all participants from your AP team members, to sales reps, suppliers, and supervisors, must all provide precise, timely responses. Most companies can attest that this is grueling.

There are numerous advantages to automating these steps, which we’ll discuss in the next section.

The Benefits of an Automated Purchase Order System

There are several benefits to utilizing purchase order automation solutions for your organization. These include:

• Reduced Expenses

• Time Saved from Physical Tasks

• Real-Time Visibility Into Operations

• A Quicker, More Optimized Procurement Method

• Lessened Physical Error

• Improved Human Resource Utilization

So, now that we have reviewed what purchase order automation is, the elements of the operation that can be automated, and the advantages of purchase order solutions, let us now talk about two of our favorite automation tools, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

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

Regardless, with the addition of Microsoft PowerApps Power Automate, you can quickly modify SharePoint’s capabilities to include automation to several of your AP operations.

Pros

• Fantastic UX/UI

• Short learning curve for new users

• Metadata search aid searchability

Cons

• No local information capture or imaging functionality

• Struggles at following compliance standards in some sectors

• SharePoint Online is not made to handle Enterprise ECM needs

OpenText Overview

OpenText is similarly an ECM platform but includes powerful add-ons that allow firms to automate workflows, enhance organizational operations, and reduce the risk associated with governance and intellectual property.

Pros

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

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

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

Cons

• Complex UX/UI

• Usually necessitates specialist configuration to guarantee that it satisfies business requirements

• Can be expensive for corporate features and add-ons

SharePoint & OpenText Pricing & Features Analysis

How Wave Can Aid You in Implementing Purchase Order Automation in Saint Paul

The truth is hand-operated workflows in your accounting system just slow your organization down, create hindrances and process headaches, and consequently hurt your progress and adaptability.

Extended billing cycles can also lead to higher costs associated with purchase order and invoice processing, impede your insight and control, and can disrupt your vendor relationships.

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

We work with Netsuite, Microsoft Dynamics, SAP, Oracle, and ECM and ERP systems like those we have mentioned in this post and also Xerox, MFiles, Oracle, and much more.

We can assist you in implementing your accounts payable automation solution on-site, in the cloud, or in a hybrid model contingent on your organizational regulations, budget, and compliance requirements.

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