SharePoint vs OpenText: The Ultimate Purchase Order Automation Platform in El Paso

Considering the current competitive marketplace, organizations of all shapes and sizes must develop ways to enhance efficiency and productivity, while lowering costs wherever appropriate.

One of the best places to begin is with business process automation (BPA). With BPA, you can streamline repetitive and laborious tasks, lessen the burden for your staff, and enhance your workflows by developing productivity and boosting reliability.

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

In this article, we’re going to hone in on purchase order automation - how it operates, why automation is an excellent option for this area, and assess a couple of our preferred PO process automation tools: Microsoft SharePoint and OpenText.

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

What is Purchase Order Automation?

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

With automation, purchase requests can be generated in a few clicks from pre-formatted templates, and transmitting functionality can deliver authorizations directly to the supply chain contractor after the approval workflow is finished.

This eliminates the need for physical involvement, document filing systems, and makes the process faster and more manageable.

The Purchase Order Process

Although the purchase order process might differ slightly from business to business, the following offers 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 colleague will evaluate and approve or reject the purchase order.

Step 3: After that, the purchase order must be forwarded to the contractor.

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

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

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

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

This might not seem like many steps, but for this workflow to run efficiently, all participants from your AP team members, to sales agents, merchants, and managers, must all provide accurate, prompt responses. Most businesses can testify that this is grueling.

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

The Benefits of an Automated Purchase Order System

There are several benefits to utilizing purchase order automation software for your company. These include:

• Reduced Expenses

• Time Saved from By-Hand Processes

• Real-Time Insight Into Activities

• A Quicker, More Optimized Procurement Process

• Reduced Human Error

• Better Use of Human Resources

So, now that we have established what purchase order automation entails, the aspects of the process that could be automated, and the advantages of purchase order tools, let’s now go over a couple of our preferred automation options, Microsoft SharePoint and OpenText.

SharePoint vs OpenText

SharePoint Overview

SharePoint is an enterprise content management platform (ECM) that, at its core, is a program for monitoring, 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 most of your AP procedures.

Pros

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

• Minimal learning curve for new users

• Metadata search enhances searchability

Cons

• No native information imaging or capture feature

• Struggles at meeting compliance guidelines in some sectors

• SharePoint Online is not made to handle Corporate ECM requirements

OpenText Overview

OpenText is an ECM tool as well, but includes advanced add-ons that allow businesses to automate workflows, improve organizational functions, and lower the risk related to management and intellectual property.

Pros

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

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

• OpenText Documentum adds case and inventory management capabilities to its feature set.

Cons

• Complex UX/UI

• Typically requires specialist configuration to ensure it satisfies organizational needs

• Can be pricey for corporate features and add-ons

SharePoint & OpenText Pricing & Features Diagram

How Wave Can Help You Implement Purchase Order Automation in El Paso

The truth is hand-operated processes in your accounting system basically slow your organization down, generate hindrances and process inefficiencies, and consequently hurt your progress and adaptability.

Longer than necessary billing cycles can also lead to greater costs associated with purchase order management and invoice processing, limit your insight and control, and can add strain to your vendor relationships.

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

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

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

To learn more, reach out today for a free consultation.