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

In the current competitive marketplace, organizations of all sizes must find ways to increase productivity and efficiency, while lowering expenses wherever appropriate.

A great place to begin is with business process automation (BPA). Through BPA, you can simplify tedious and laborious tasks, reduce the load on your team members, and improve your workflows by adding efficiency and boosting precision.

There are a number of processes and business fields that could make use of BPA. Some of the most frequent adopters are Accounts Payable units who can use BPA to automate purchase order processing, payroll, and invoicing.

In this piece, we’re going to hone in on purchase order automation - how it functions, why automation is an excellent solution for this area, and compare two of our preferred PO process automation software: Microsoft SharePoint and OpenText.

To start, let’s talk about what purchase order automation is and how it functions.

What is Purchase Order Automation?

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

Via automation, purchase requisitions can be generated in a few clicks from pre-formatted layouts, and transmitting functionality can send approvals directly to the supply chain contractor after the approval workflow is complete.

This eliminates any need for physical interference, document filing processes, and makes the process smoother and more controllable.

The Purchase Order Process

Though the purchase order process can differ slightly from one business to the next, the following provides a great example of a standard, hand-operated purchase order system.

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

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

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

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 reviewed and authorized, and payment is delivered to the supplier.

Step 7: The last step of the purchasing process is to archive the relevant records to create an audit trail.

This may not seem like a great deal of steps, but for this procedure to go smoothly, all parties from your AP personnel, to sales agents, vendors, and supervisors, must all deliver accurate, prompt responses. Several businesses can attest that this is grueling.

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

The Advantages of an Automated Purchase Order System

There are numerous benefits to implementing purchase order automation tools for your business. These include:

• Lower Costs

• Time Saved from Manual Tasks

• Real-Time Operational Visibility

• A Faster, More Optimized Procurement Procedure

• Reduced Human Error

• Better Human Resource Utilization

Now that we have reviewed what purchase order automation is, the elements of the process that can be automated, and the benefits of purchase order software, let’s now talk about two of our preferred automation tools, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

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

Having said that, with the addition of Microsoft PowerApps Power Automate, you can quickly adapt SharePoint’s functionality to incorporate automation to most of your AP processes.

Pros

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

• Minimal learning curve for new users

• Metadata search aid searchability

Cons

• No local data capture or imaging functionality

• Weak at fulfilling compliance standards in some industries

• SharePoint Online is not designed to fulfill Enterprise ECM requirements

OpenText Overview

OpenText is also an ECM solution but provides powerful add-ons that empower businesses to automate processes, enhance business activities, and decrease the risk related to administration and intellectual property.

Pros

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

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

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

Cons

• Complex UX/UI

• Often necessitates expert configuration to guarantee that it satisfies business needs

• Can get costly for corporate features and add-ons

SharePoint & OpenText Pricing & Features Diagram

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

The reality is by-hand processes in your accounting framework just slow your firm down, generate hindrances and process headaches, and consequently hurt your development and adaptability.

Extended payment cycles can also contribute to increased expenses associated with purchase order and invoice processing, impede your transparency and control, and can damage your supplier connections.

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

We work closely with Netsuite, Microsoft Dynamics, SAP, Oracle, and ECM and ERP tools like those we’ve examined in this post and also Xerox, MFiles, Oracle, and much more.

We can help you deploy your accounts payable automation software locally, in the cloud, or in a hybrid model contingent on your organizational rules, budget, and compliance guidelines.

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