SharePoint vs OpenText: The Ultimate Purchase Order Automation Platform in Santa Ana

Given the current competitive marketplace, firms of all sizes must find ways to enhance productivity and efficiency, while reducing costs wherever possible.

One of the best places to begin is with business process automation (BPA). Through BPA, you could expedite repetitive and time-consuming tasks, reduce the load on your team members, and improve your workflows by adding productivity and amplifying accuracy.

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

In this article, we’re going to hone in on purchase order automation - how it operates, why automation is an excellent solution for this area, and evaluate two of our favorite PO process automation platforms: Microsoft SharePoint and OpenText.

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

What is Purchase Order Automation?

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

Via automation, purchase requisitions can be created in a few clicks from pre-formatted templates, and forwarding capability can send approvals straight to the supply chain contractor when the approval workflow is done.

This removes any need for human interference, document filing processes, and makes the process faster and more manageable.

The Purchase Order Process

Though the purchase order process might differ from company to company, the following offers an excellent example of a typical, by-hand purchase order process.

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

Step 2: Then another staff member will review and approve/reject the purchase order.

Step 3: Following that, the purchase order must be sent to the merchant.

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

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

Step 6: The invoice will need to be reviewed and approved, and payment is released to the supplier.

Step 7: Then the final step of the purchasing procedure is to archive the related files to generate an audit trail.

This might not seem like many steps, but for this process to run efficiently, all parties from your AP team members, to sales representatives, vendors, and supervisors, must all deliver correct, prompt responses. Several companies can confirm that this is way harder than it sounds.

There are numerous advantages to automating this procedure, which we will discuss in the next chapter.

The Benefits of an Automated Purchase Order System

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

• Reduced Expenses

• Time Saved from By-Hand Tasks

• Real-Time Operational Visibility

• A Faster, More Optimized Purchasing Method

• Reduced Physical Error

• Better Human Resource Utilization

So, now that we’ve established what purchase order automation is, the elements of the process that could be automated, and the gains of purchase order tools, let’s now take a closer look at a couple of our preferred automation solutions, Microsoft SharePoint and OpenText.

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 data.

Having said that, with the inclusion of Microsoft PowerApps Power Automate, you can easily modify SharePoint’s capabilities to incorporate automation to most of your AP procedures.

Pros

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

• Moderate learning curve for new users

• Metadata search optimizes searchability

Cons

• No native information capture or imaging functionality

• Weak at meeting compliance requirements in a few industries

• SharePoint Online not equipped to meet Enterprise ECM needs

OpenText Overview

OpenText is an ECM tool as well, but provides advanced add-ons that enable companies to automate workflows, enhance organizational activities, and reduce the risk associated with governance and intellectual property.

Pros

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

• Powerful document management, classification, filtering, and access authorizations

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

Cons

• Complex UX/UI

• Usually necessitates professional optimization to guarantee that it satisfies business needs

• Can be pricey for corporate capabilities and add-ons

SharePoint & OpenText Pricing & Features Comparison

How Wave Can Aid You in Implementing Purchase Order Automation in Santa Ana

The reality is physical workflows in your accounting framework basically slow your business down, cause bottlenecks and process issues, and sooner or later hurt your development and scalability.

Prolonged payment cycles can also result in increased expenses associated with purchase order and invoice processing, reduce your visibility and control, and can disrupt your vendor partnerships.

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

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

We can help you deploy your accounts payable automation software on-premises, in the cloud, or in a hybrid concept based on your business rules, budget, and compliance requirements.

To learn more, connect with us immediately for a free consultation.