How to Make Your Business Smarter With Odoo

ERP systems, since its discovery, have greatly reduced the need for manually managing and interpreting data. The system streamlines business processes and various functionalities making it easier and efficient to collect data

With the outbreak of new technologies and possibilities in the ERP world, Odoo’s combined and real-time project management helps you get your work done in a more systematic way. It keeps the track of every minute detail from customer contacts to office billings.

Let us discuss some important things Odoo can do to make your business smarted and efficient:

Warehouse Management

The traditional accounting system saw the need for an efficient system that keeps track of the Inventory and supply chain when a single warehouse/store was occupying products of 2 or more different suppliers. How would you distinguish between which store brought in which product and when?

Odoo provides a way of optimizing the warehouse management with accounting principle. The tool provides a double entry system which keeps records of every transaction in 2 different accounts. For eg. When you enter an order in the system, you will have a separate entry for incoming stock, and a separate entry for outgoing stock. This system has been widely accepted and praised for its efficiency and accuracy.

Human Resource Management

Whether you have a single department in your business or multiple departments, Odoo can help you oversee information of your employees at a single glance. The system consists of the all-in-one module which takes care of recruitment, attendance, leaves, appraisals and much more. Alerts can be set for new leave requests, applications and appraisals.

The human resource module can be customized according to your business requirement. You can easily track and monitor employee attendance, easily evaluate administrative duties streamline expense management and a lot more. You can also improve communication with your employees through social media through one single interface.

Accounting management

Any business small or big knows the importance of revenue and cash flow. Odoo has made sure that you reap the benefits of the integrated business solution, with different module interlinked under one single roof. But when it comes to accounting, Odoo has everything from automobile manufacturers to snack food companies.

Odoo accounting software is beautifully designed keeping the hassles of 21st-century accounts in mind. It can connect directly to your accounting system and synchronizes with it every hour to give you very clear and precise data you need. You can find everything from legal statements to executive summaries, which is quick and dynamic.

Reports and Dashboards

Like any other successful ERP system, Odoo makes sure you have a complete business solution. It offers you statistical reports and documents to represent your business data in real time. The data is calculated and represented in the form of graphs and charts which are dynamic and changes with your everyday business process.

Odoo also provides the possibility to develop your own analysis to meet your demands. The dashboards are an important aspect to visualize data in a better way. You can also export the report to a pdf to view it offline on your personal devices.

What are the other benefits of using the platform?

A comprehensive tool

Odoo is known to be a comprehensive platform that effectively manages diverse business applications through a single interface. It is available in 3 variants viz. an enterprise one, a community version and an online model which are all open source. Compared to all the other open source ERP systems, Odoo is right now the fastest growing ERP’s.

Odoo handles a wide range of business needs ranging from E-commerce, project management, CRM, billing, accounting, inventory management and much more. The platform is very user-friendly and always includes innovative applications and updates to improve its performance in the long run.

High on modules

Odoo is highly modular where you can find various modules needed for the much-needed support for your business processes. It has advanced and up-to-minute technology track and releases new modules for every new technological advancement in the market. These modules are upgraded whenever necessary and adapt to the changing paradigms.

Odoo has a wide variety of other features which are perfect fit modules for different modules. Every module is capable of streamlining an entire process of a business. Therefore, ERP customization with high-end Odoo for each and every module can be modified to fit the business needs. Odoo also transforms and completely secures and safeguards your business from falling apart.

User-friendly:

Small-scale industries sometimes do not possess the required skills or manpower for training and development. When any company implements an ERP system, it is expected that the employees and management are well trained in using it.

Odoo offers a user-friendly and smooth experience to its users, without having much need for training, to ensure a seamless performance.

Flexibility and full integration cover almost all expect of the small-scale industries making it understandable and user-friendly. Odoo is very flexible and offers several innovative applications.

Easy upgrades

One of the biggest areas of any ERP system is its upgrades. The industry keeps changing trends and organizations find more and more ways to expand its horizons. Companies on an average upgrade their ERP system 2 times in its lifespan. Odoo upgrades do not affect the existing customization and don’t require data migration.

With Odoo, you can control of when and what to upgrade. You need not depend on any other system available to guide you through the process. That’s how you utilize technology as a strategic advantage for your company. If you are still running on the outdated technology, then it is a good time to shift your gears.

Invoice & Sales Order Templates:

Invoices and sales order helps your organization to view and keep a track of what you’re getting for your money. If you sell any kind of products or services, it is required that you provide the invoice by law. Odoo provides you with visually appealing and professionally designed invoice templates for sales orders/quotations.

The Odoo invoices are simple, clean and beautiful with full features like taxes, terms, multiple taxes, discounts and price list. It also supports multiple currencies and payments for a single invoice. You can select the fonts & colors to personalize it according to your brand.

Lead Management

The first thing any small-scale organization must do to survive in the market is generating value leads. Odoo offers 8+ plugins and apps for efficient management of leads and customers. Comparing other CRM’s like Zoho, Sugar CRM etc. Odoo has an advantage over all. It offers stunning features like lead tracking quote and invoice generation, social networking integration, signature etc.

Creating leads and retaining existing customers in Odoo is simple and easy. The converted leads are considered as an important entity to track the sales pipeline of your organization. Odoo can prioritize activities and keep a track of your sales activities and leads. You get all the necessary information in a single dashboard making it easier for analysis and benchmarks.

Conclusion

Every organization need is different and Odoo can be customized for their size, type, and leads. When you look for customization in your system, first make sure you are clear on why you need the system. Also, look out for industry-specific tools you require for carrying out your business.

We have listed just a few main important Odoo features, but Odoo is a vast subject and has over 30 applications, solutions, and factors that you need to understand before making the final go.

Read also : All About Odoo Accounting Software

Take your time and try out Odoo’s free trials to make sure it fits your business well.