When creating and marketing a product, a question often asked is “how do you compare to the competition?”. In order to compare DynamicPoint’s AP Invoice Automation, Employee Expense Management, and customer and vendor portal products to the competition, it is important to first identify the typical functionality and features that comprise each of these applications. It is similar to evaluating which car you want to buy. Such criteria as the size, mpg, towing, seating, etc. start running through your head. There is a similar evaluation criterion to each of these applications as well.
Below we have broken down these features by each of DynamicPoint’s applications.
AP Invoice Automation
| Functionality | Detail |
| Invoice Receipt | · Receive invoice from vendor
· Check request for internal submission |
| OCR | · Extract key fields
· Provide AI learning and process automation |
| AP Management | · Perform 2- and 3-way matching
· Allocate non-PO invoices |
| Document Storage | · Capture invoice
· Storage and archiving |
| Workflow | · Route invoice for approval
· Process business rules |
| Integration | · Query master data from ERP / Accounting Systems
· Create AP transactions |
Employee Expense Management
| Functionality | Detail |
| Expense Capture | · Receive expenses from employee
· Coding to accounts or projects |
| OCR | · Extract key fields
· Provide AI learning and process automation |
| Mileage | · Google Map integration
· Power App for tracking |
| Corporate Credit Cards | · Live feed with banks
· Integration to GL accounts |
| Workflow | · Route invoice for approval
· Process business rules |
| Integration | · Query master data
· Create AP or GL transactions |
Portals
| Functionality | Detail |
| Branding | · Tailor the portal to your company
· Include logos and branding |
| ERP and CRM Data | · Share information from other systems
· All report generation |
| Security | · Enable view, edit or create
· Restrict access to authorized users |
| Content Management | · Include content such as videos and documents
· Publish news, calendars, and blogs |
| Process Automation | · Generate notifications or route changes for approval
· Full Business Process Automation |
| Integration | · Connect to various ERP and CRM systems
· Customer and vendor filtering |
How Does DynamicPoint Stack Up?
Now that we have defined the criteria by which to evaluate our products, of course, the next question is “how do we do?”. We have created a new page in which we elaborate on each of these criteria and how our approach compares. If you want us to give you the spoiler, Microsoft Office 365 is our biggest differentiator. While competitors try to build all of these features into their applications, we leverage Office 365, the largest and most robust suite of products that almost entirely all of our customers already own. By taking this approach, we can focus on the key components that are missing, namely integration with various ERP and Accounting Systems and core product functionality.
So are we ready to take on the competition, you betcha we are! With such tools as SharePoint, Power Automate, Power Apps, Power BI, Power Apps, and Microsoft Forms on our side, we welcome the challenge!
