SharePoint vs OpenText: The Ultimate Purchase Order Automation Software in Boise

Given the current competitive marketplace, companies of all sizes must discover ways to increase efficiency and productivity, while cutting expenses wherever appropriate.

A great place to start is with business process automation (BPA). Through BPA, you could streamline repetitive and taxing workflows, lessen the stress on your staff, and enhance your system by adding productivity and boosting reliability.

There are several tasks and business fields that could make use of BPA. Some of the most prevalent adopters are Accounts Payable teams who can utilize BPA to automate purchase order processing, payroll, and invoicing.

In this article, we’ll focus on purchase order automation - how it works, why automation is a perfect option for this area, and assess two of our favorite PO process automation tools: Microsoft SharePoint and OpenText.

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

What is Purchase Order Automation?

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

Via automation, purchase requisitions can be produced in a few seconds using pre-formatted templates, and routing functionality can send approvals straight to the supply chain vendor once the approval workflow is done.

This removes any need for manual interference, paper filing processes, and makes the process smoother and more manageable.

The Purchase Order Process

Though the purchase order process can look slightly different from business to business, the following provides a great example of a typical, manual purchase order process.

Step 1: The first step is purchase order creation.

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

Step 3: Then, the purchase order must be forwarded to the vendor.

Step 4: Once filled, the business will then receive 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 released to the vendor.

Step 7: The final step of the purchasing procedure is to file the relevant documents to generate an audit trail.

This may not seem like a great deal of steps, but in order for this procedure to go smoothly, all parties from your AP staff, to sales reps, suppliers, and managers, must all deliver correct, timely responses. Many firms can attest that this is grueling.

There are many benefits to automating this procedure, which we’ll explore in the next chapter.

The Advantages of an Automated Purchase Order System

There are many advantages to utilizing purchase order automation solutions for your business. These include:

• Cost Savings

• Time Saved from Manual Tasks

• Real-Time Insight Into Activities

• A Faster, More Streamlined Purchasing Procedure

• Decreased Manual Error

• Better Utilization of Human Resources

So, now that we have reviewed what purchase order automation entails, the aspects of the procedure that could be automated, and the gains of purchase order solutions, let us now take a closer look at two of our preferred automation solutions, Microsoft SharePoint and OpenText.

SharePoint vs OpenText

SharePoint Overview

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

However, with the addition of Microsoft PowerApps Power Automate, you can quickly customize SharePoint’s features to include automation to many of your AP processes.

Pros

• Excellent user experience and interface

• Moderate learning curve for new users

• Metadata search optimizes searchability

Cons

• No integrated data imaging or capture feature

• Weak at meeting compliance standards in a few industries

• SharePoint Online is not made to meet Enterprise ECM needs

OpenText Overview

OpenText is also an ECM solution but offers advanced add-ons that allow companies to automate tasks, enhance organizational activities, and reduce the risk connected to governance and intellectual property.

Pros

• A superior choice for companies that must adhere to strict regulations

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

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

Cons

• Intricate UX/UI

• Typically demands expert configuration to ensure it fulfills business requirements

• Can be expensive for enterprise functionality and add-ons

SharePoint & OpenText Pricing & Features Analysis

How Wave Can Aid You in Implementing Purchase Order Automation in Boise

The fact is that manual workflows in your accounting system simply slow your firm down, create logjams and process inefficiencies, and ultimately hurt your progress and flexibility.

Prolonged billing cycles can also contribute to increased expenses associated with purchase order and invoice processing, impede your transparency and control, and can disrupt your merchant relationships.

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

We work with Microsoft Dynamics, SAP, Netsuite, Oracle, in addition to ECM and ERP solutions like those we’ve mentioned in this article and also MFiles, Oracle, Xerox, and much more.

We can help you deploy your accounts payable automation software locally, in the cloud, or in a hybrid framework contingent on your business regulations, budget, and compliance requirements.

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