SharePoint vs OpenText: The Ultimate Purchase Order Automation Tool in Bakersfield

In the current competitive landscape, firms of all sizes must find ways to increase efficiency and productivity, while cutting costs wherever appropriate.

One of the best places to begin is with business process automation (BPA). With BPA, you can simplify tedious and laborious processes, ease the burden for your colleagues, and upgrade your processes by developing productivity and amplifying accuracy.

There are a number of processes and business units that can make use of BPA. Some of the most frequent adopters are Accounts Payable teams who can use 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 evaluate two of our favorite PO process automation software: Microsoft SharePoint and OpenText.

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

What is Purchase Order Automation?

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

Through automation, purchase requisitions can be produced in a few clicks from pre-formatted templates, and routing capability can send authorizations straight to the supply chain vendor when the approval workflow is finished.

This removes any need for human intervention, document filing methods, and makes the process smoother and more manageable.

The Purchase Order Process

Though the purchase order process might look slightly different from one business to the next, the following provides a good example of a conventional, manual purchase order system.

Step 1: The first step is to create a purchase order.

Step 2: Then another team member will evaluate and approve/reject the purchase order.

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

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

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

Step 6: The invoice will need to be examined and authorized, and payment is released to the merchant.

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

This may not seem like a lot of steps, but in order for this process to run efficiently, all participants from your AP team members, to sales agents, vendors, and executives, must all deliver accurate, timely responses. Many firms can confirm that this is grueling.

There are many benefits to automating this process, which we’ll review in the next section.

The Advantages of an Automated Purchase Order System

There are a number of advantages to adopting purchase order automation tools for your business. These include:

• Lower Costs

• Time Saved from Hand-Operated Processes

• Real-Time Insight Into Activities

• A Faster, More Streamlined Purchasing Process

• Decreased Manual Error

• Greater Human Resource Utilization

Now that we’ve established what purchase order automation entails, the elements of the operation that could be automated, and the gains of purchase order software, let us now take a closer look at two of our favorite automation options, Microsoft SharePoint and OpenText.

SharePoint vs OpenText

SharePoint Overview

SharePoint is an enterprise content management software (ECM) that in its base form, is a program for monitoring, collaborating on, and publishing material.

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

Pros

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

• Short learning curve for new users

• Metadata search enhances searchability

Cons

• No integrated data capture or imaging feature

• Struggles at following compliance standards in a few industries

• SharePoint Online is not designed to fulfill Enterprise ECM requirements

OpenText Overview

OpenText is also an ECM solution but offers powerful add-ons that empower firms to automate processes, improve organizational functions, and decrease the risk connected to governance and intellectual property.

Pros

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

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

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

Cons

• Complex UX/UI

• Often requires professional optimization to ensure it meets business needs

• Can be expensive for corporate functionality and add-ons

SharePoint & OpenText Pricing & Features Table

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

The fact is that manual workflows in your accounting framework basically slow your organization down, cause logjams and process inefficiencies, and sooner or later hurt your growth and adaptability.

Prolonged payment cycles can also result in higher costs associated with purchase order and invoice processing, impede your visibility and control, and can add strain to your vendor relationships.

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

We work with Microsoft Dynamics, SAP, Netsuite, Oracle, in addition to ECM and ERP tools like those we’ve discussed in this post and also Xerox, MFiles, Oracle, and many others.

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

To discover more, contact us immediately for a free consultation.