SharePoint vs OpenText: The Best Purchase Order Automation Software in Buffalo

Considering today’s competitive landscape, businesses of all shapes and sizes must develop ways to enhance efficiency and productivity, while reducing expenditures wherever appropriate.

An excellent place to begin is with business process automation (BPA). Via BPA, you could streamline tedious and taxing workflows, reduce the stress on your colleagues, and improve your workflows by increasing productivity and raising accuracy.

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

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

To begin, let us discuss what purchase order automation is and how it functions.

What is Purchase Order Automation?

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

Through automation, purchase requisitions can be created in a few seconds using pre-formatted templates, and forwarding capability can deliver approvals directly to the supply chain vendor when the approval process is done.

This removes the need for manual intervention, record filing systems, and makes the operation smoother and more controllable.

The Purchase Order Process

Though the purchase order process might look slightly different from organization to organization, the following provides an excellent example of a standard, physical purchase order system.

Step 1: The first step is creating a purchase order.

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

Step 3: Following that, the purchase order should be routed to the merchant.

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

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

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

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

This might not seem like a great deal of steps, but in order for this procedure to operate normally, all individuals from your AP team members, to sales reps, suppliers, and supervisors, must all deliver precise, timely responses. Many organizations can confirm that this is way harder than it sounds.

There are several advantages to automating this process, which we will explore in the next section.

The Benefits of an Automated Purchase Order System

There are many advantages to adopting purchase order automation tools for your company. These include:

• Lower Costs

• Time Saved from Physical Tasks

• Real-Time Visibility Into Operations

• A Quicker, More Streamlined Procurement Process

• Reduced Manual Error

• Better Use of Human Resources

Now that we’ve established what purchase order automation is, the aspects of the process that can be automated, and the benefits of purchase order tools, let’s now go over two of our preferred automation options, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

SharePoint is an enterprise content management solution (ECM) that, at its core, is a program for managing, collaborating on, and sharing content.

Regardless, with the integration of Microsoft PowerApps Power Automate, you can easily adapt SharePoint’s capabilities to include automation to several of your AP procedures.

Pros

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

• Moderate learning curve for new users

• Metadata search optimizes searchability

Cons

• No native data capture or imaging functionality

• Weak at following compliance guidelines in a few industries

• SharePoint Online is not designed to fulfill Corporate ECM needs

OpenText Overview

OpenText is similarly an ECM platform but includes advanced add-ons that allow organizations to automate workflows, augment organizational functions, and reduce the risk associated with governance and intellectual property.

Pros

• A superior option for business with a high level of compliance

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

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

Cons

• Complicated UX/UI

• Usually demands professional configuration to ensure it satisfies business needs

• Can be pricey for enterprise features and add-ons

SharePoint & OpenText Pricing & Features Analysis

How Wave Can Help You Implement Purchase Order Automation in Buffalo

The reality is by-hand processes in your accounting system basically slow your organization down, create hindrances and process issues, and ultimately hurt your growth and flexibility.

Prolonged payment cycles can also contribute to increased costs associated with purchase order and invoice processing, reduce your visibility and control, and can disrupt your merchant connections.

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

We work closely with Microsoft Dynamics, SAP, Netsuite, Oracle, in addition to ERP and ECM solutions like those we’ve examined in this article 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 concept contingent on your business rules, budget, and compliance requirements.

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