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

In today’s competitive landscape, businesses of all sizes must find ways to boost efficiency and productivity, while cutting expenses wherever necessary.

A great place to begin is with business process automation (BPA). Through BPA, you could simplify tedious and time-consuming processes, lessen the load on your team members, and upgrade your processes by increasing efficiency and boosting reliability.

There are several operations and business units that could take advantage of BPA. Among of the most common adopters are Accounts Payable teams who can use BPA to automate purchase order processing, payroll, and invoicing.

In this post, we’re going to hone in on purchase order automation - how it operates, why automation is a great option for this area, and assess two of our preferred PO process automation software: Microsoft SharePoint and OpenText.

To begin, 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 artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) technology to automate the purchase order process.

With automation, purchase requisitions can be generated in a few clicks from pre-formatted templates, and routing functionality can send approvals straight to the supply chain contractor after the approval process is complete.

This eliminates the need for manual intervention, document filing methods, and makes the operation simpler and more controllable.

The Purchase Order Process

Although the purchase order process can look slightly different from company to company, the following provides an excellent example of a conventional, physical purchase order system.

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

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

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

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

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

Step 6: The invoice must be examined and confirmed, and payment is issued to the merchant.

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

This might not seem like a lot of steps, but in order for this workflow to run efficiently, all individuals from your AP team members, to sales reps, vendors, and executives, must all deliver accurate, prompt responses. Most firms can attest that this is grueling.

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

The Benefits of an Automated Purchase Order Process

There are numerous advantages to utilizing purchase order automation tools for your company. These include:

• Cost Savings

• Time Saved from Hand-Operated Processes

• Real-Time Insight Into Activities

• A Faster, More Optimized Procurement Method

• Reduced Physical Error

• Greater Human Resource Utilization

So, now that we’ve established what purchase order automation entails, the parts of the process that can be automated, and the benefits of purchase order software, let’s now talk about a couple of our favorite automation tools, OpenText and Microsoft SharePoint.

SharePoint vs OpenText

SharePoint Overview

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

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

Pros

• Superb user experience and interface

• Short learning curve for new users

• Metadata search improves searchability

Cons

• No local information capture or imaging feature

• Struggles at following compliance standards in a few sectors

• SharePoint Online is not made to handle Corporate ECM needs

OpenText Overview

OpenText is similarly an ECM platform but includes powerful add-ons that empower firms to automate processes, enhance organizational functions, and lower the risk associated with management and intellectual property.

Pros

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

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

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

Cons

• Complex UX/UI

• Usually requires professional optimization to guarantee that it fulfills business requirements

• Can be pricey for enterprise features and add-ons

SharePoint & OpenText Pricing & Features Diagram

How Wave Can Help You Implement Purchase Order Automation in Baltimore

The reality is manual workflows in your accounting framework simply slow your organization down, create bottlenecks and process headaches, and consequently hurt your development and flexibility.

Extended payment cycles can also result in greater costs associated with purchase order management and invoice processing, limit your insight and control, and can add strain to your supplier connections.

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

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

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

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