9 Best Advantages of Odoo ERP Software

Being one of the most sought-after ERPs, today Odoo is used over by 7 million users worldwide, ranging from startup companies, and SMEs to large enterprises.

Technology advancements are happening at a breakneck pace, and the same rate can be seen in Odoo ERP (enterprise resource planning). Within a couple of years of its inception, Odoo expanded its market reach to almost all types of industries. Being one of the most sought-after ERPs, today Odoo is used over by 7 million users worldwide, ranging from startup companies, and SMEs to large enterprises. With a community of more than 1500 active members, Odoo has offered more than 16000 apps to cater to the widest variety of business requirements.

Odoo ERP software is an integrated suite of business modules that can aid companies to a phenomenal level. It can align various processes related to purchasing, sales, human resources, accounting, and marketing. The evolution in Odoo ERP talks about the continuous developments in market conditions, buyer behavior, competition, and technology innovations. One of the most favorable elements about Odoo since its launch in 2005, is the way it provides an array of more than 35 modules to the users according to their needs.

Picking the right ERP for your business at the right time can put your business to a different level. It can mark the beginning of the bright future of your enterprise. Not does it make the process simple and efficient, but it also ensures a strong integration with other systems, You can now instantly execute the plans and can manage company resources including customers and employees. Moreover, you can avail of several advantages that Odoo ERP provides to its users at a consistent level.

Top Advantages of Odoo ERP

As an entrepreneur of a growing organization, you would seek an ERP that can manage various business functions and provide the below benefits.

Enhance Collaboration

One of the core elements of an ERP is the centralized database. The holistic database provided by Odoo can reduce data errors and consequent losses to a great extent. Based on your choice of ERP, the features and functions may differ, however, all ERPs can streamline data across various departments by converting it into a single source. Working with a common goal backed up by the database source will help employees to work together systematically.

Save Money

ERP investment can pull in a larger portion of your overall budget no matter how flexible the packages are. During the growing stage of a company, entrepreneurs give a second thought to spending on ERP systems. However, the real impact of ERP can only be experienced and beneficial in the long run by way of improved ROI and increased productivity.

Enhance Analytics and Reporting

Well-organized and simplified data analytics and reporting can help gain better insights. The quality and quantity of data both determine how good it is for providing valuable insights. In addition, the ability to organize data seamlessly across all departments will help you understand the reasons for your business performance standing at a particular level. Odoo ERP can make it so easy to generate reports and can cut down your precious time on performing days of research and compilation in manual reports.

Generate Higher Productivity

Handling business involves several tiresome tasks that can eat up your time and may reduce the morale of your team. With Odoo ERP around, you can automate tedious tasks and can allow employees to use their time efficiently. With automation, you can eliminate unwanted usage of time on routine tasks and allow you to productize your hours. The biggest efficiency in ERP systems is the capacity the handle thousands of data and manage all of them along with various other tasks that can hamper the productive work environment.

Bring Customer Satisfaction

ERPs generally have integrated CRM tools to facilitate your sales team with better communication across all platforms. With Odoo CRM tools, your team gets clarity on customers’ viewpoints and would help you strategize better customer services that can cater to their needs and wants. ERP systems can rapidly organize a database of your customers leading to a better understanding of their choices.

Customizable

Odoo ERP has a user-friendly modular structure that is highly suitable for SMEs. Tailored to fulfill the needs of a dynamic business, Odoo ERP can help your business grow and develop by adding the subset tools and making it the most preferred choice for your business.

Budget-Friendly

The pricing of Odoo is based on the modules covered, user numbers, implementation, integration, and hosting type. Paying for your business growth as an SME entrepreneur proves to be highly beneficial. The best part about Odoo is that it does not provide services at a fixed price tag. It works based on pay per use scheme. You need not buy a complete package and can go with the free-to-use community edition. Moreover, you can buy more from Odoo whenever you realize the growing need for similar services for your business.

Collaborative

With Odoo ERP, you can collaborate unconnected software systems to fulfill your dynamic business needs that may come in the future. The proactive approach can help you manage data with higher efficiency and better productivity.

Cloud-based

SMEs can avoid serving the infrastructural demands during ERP implementation with Odoo. As it is available with different hosting options, you can save a lot of time and money and just pay for the number of services that you use for your business. Server resources become highly scalable with cloud hosting and can accommodate all sorts of business expansion plans.

The Best Odoo ERP Trends to Go With

• SMBs are implementing cloud-based ERPs as they give great flexibility over individual requirements. Odoo ERP, the security is at the top priority along with increasing productivity
• The impact of AI and ML on ERP is gaining momentum. For example, one such application that tracks the upcoming sale is Odoo ERP’s Sales Forecast. Developers now are recognizing the critical importance of AI-enabled ERP systems.
• Healthcare organizations need an integrated system to unify all healthcare-related activities. Odoo system is managing most of the back-office activities, critical services, and support services to give a better patient experience at lower operating costs. Moreover, new Odoo ERP developments have enabled healthcare companies to improve patient care experiences
• Integrating IoT devices with ERP systems has aggregated data to produce real-time reports to gain enhanced visibility and decision-making. IT-enabled ERP solutions are becoming increasingly popular in industrial units and organizations nowadays.
• Odoo is launching its newest version 16.0 in October 2022. This is a Knowledge app, focusing more on organizing information based on Wiki, Notion, and the internal knowledge base data of Odoo. Also, apart from a gamut of new features, the new version will allow to access the templates and procedures at the time of performing workflow.
• Odoo ERP is a holistic SME solution without any external integration to manage your sales, CRM , Purchase, Accounting, Manufacturing, HR, Payroll, and much more.

Wrapping Up

Odoo ERP is an extremely beneficial and cost-effective ERP system. It can revamp your small and medium-sized business into an efficient organization. Being minimal and highly functional, Odoo ERP provides the basic toolset that is required for any given startup. You can kick-start your business with Odoo ERP and can trust to have a sustainable growth curve in the future by streamlining business needs.

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