Can AME replace PO Hierarchy and the approval groups / assignments?

I thought that AME was a tool to allow users to create a different approval process for requisitions that would be routed outside their normal approval workflow.

One of our technical team said that AME could replace the PO Hierarchy, approval groups and assignments. This would eliminate maintenance on the when changes are made in HR.

Since we have been been using the hierarchy and created thousands of requisitions and purchaser orders what would be the challenge to switch even if it's possible.