What has the new Odoo 16 in store for businesses?

The official release date of Odoo 16 is set to be around October 2022. Odoo has enjoyed the success of its earlier versions. The journey has seen a huge transformation from small ERP to established open-source ERP software.

The new version is believed to have many developments in terms of operational speed, application performance, enhanced user experience, etc.

This blog would help you know about the 16th version of Odoo, its features, and how it can help businesses grow.

Which industries can leverage Odoo 16?

Although Odoo 16 may not be in a race of premium CRM ERP solution vendors like SAP or Oracle, it is very useful to manage business operations of all business sizes.

The reasons why Odoo is believed to be the popular and rapidly growing ERP & CRM tool are:

• Agile approach
• Offer easy business management
• Bespoke solutions
• Free & community versions are available
• Low costs etc

Industries that can leverage Odoo 16

• Distribution agencies
• R&D enterprises
• Healthcare and hospitality industry.
• Retailers (both online and offline)
• Manufacturers
• IT consultant companies
• Accounting firms
• Marketing firms
• Odoo partners & consultancies

Explore the features of
the new version – Odoo 16

1. Knowledge Module

Odoo 16 brings the new Knowledge application feature to its users. This feature is much like an information-sharing network. It is an integrated module that allows employees to share vital data that helps the entire staff.

This feature helps simplify a lot of tasks for employees like

• Add businesses processes
• Details of the versions & enhancements
• Administrative instructions
• Helpful articles and a lot more

Also, vital or miscellaneous information can be shared amongst team members or with other staff members working in various departments.

Communication becomes easy through the “Chatter” feature. It also helps consolidate your company during the creation of workflows. The articles can be shared with other Odoo users through a link itself.

2. Website & Chatbot Module

The “Website” module offers better control and multiple options for odoo customization over website building components.

With the help of Odoo 16, the front and back end of the website module is combined to build a similar user interface. It opens door to tons of odoo customization options.

With Odoo 16, the website configurations can be done without reloading the page. It helps you explore more configuration options. The main objective behind this idea is to simplify user management.

Enhanced Chatbot feature comprises of questions & decision format wherein users can get solutions to the process they want to know about from the chatbot itself.

With an integrated Chatbot, Odoo enables the user to fetch data from the application server. It helps you configure everything without the need to reload the webpage.

So, managing a website becomes easy and you can control the front end & back end through a single interface.

3. Discounts, Coupons & Promotions

Earlier versions of Odoo didn’t have promotions and coupons included in the main application modules. This is why users would not choose to make use of these features for such applications.

Talking about Odoo 16, these features are included to accommodate, access, and manage promotions, coupons & discounts on the website via a centralized platform. The features can be beneficial for POS (Point of Sales), Sales Orders, and e-commerce.

You will find the e-wallet feature in Odoo 16. Also, Gift cards will be available for Sales Orders.

Odoo 16 will make the Reporting and Analysis easier. The companies can use discounts, coupons, and promotional offers, with all applications for sales & promotions.

4. Accounting Module

A lot of new features and tools are included in Odoo 16 to improve the accounting module. Invoice management and different processes are digitalized to secure operational speed.

You can manage the credit limits for invoices and sales instantly using the feature – ‘Warning/alert’. You can use the OCR-separate setting to generate client invoices.

Journal Audit Reports can be viewed with an easy readability that will enhance data linked with VAT rules.Journal Audit Reports can be viewed with an easy readability that will enhance data linked with VAT rules.

You will find new widgets are developed for the “Reconciliation process to add more convenience for the user. This widget can be accessed directly from the reconciliation section. The widget also promotes fast currency exchange management. Interestingly, the added feature helps multi-currency management and organized accounting reports.

Odoo 16 allows import entries, COA, contacts, etc easily. Frequent processes like customer refunds and cancellations can be performed easily in Odoo. So, with this new version of Odoo, you can experience improved UX and organized calculation techniques.

5. Inventory Module

Odoo 16 introduces a highly improved Inventory module as other modules. It offers a range of tools to enhance the efficacy of this module.

The features like advanced delivery & Force back-order allow you to make the most of inventory. Your employees don’t need to hit the button ‘cancel’ for backorder. It can be done through Odoo 16 and you can enjoy amazing usability and effortless inventory management.

Improvements in features like – Replenishment management sends alerts to the user to inform them of the number of days left for replenishment of inventory. This helps you avoid the issues that may arise due to delays in knowing about replenishment.

The feature – ‘Automated Batches’ becomes helpful for inventory transfers performed internally. You can limit the batch size according to different parameters like switch, weight, and transfer line.

Now, the feature Subscription Module and Sale Orders are combined to simplify administration and accelerate operations.

The Shipping Methods are easier and have modified prefixes with easy-to-follow instructions.

Odoo 16 has made the Barcode Printing & scanning methods easier than before. The data matrix code is capable of printing detailed product information for each content such as product weight, lot number, product serial number, manufacturing date, etc.

6. MRP Module

With the Odoo MRP module, you will find a whole range of operational features.

One of the vital features of this module (MRP) allows users to combine and divide Manufacturing orders. This allows organized and effortless manufacturing management and structured planning.

It allows the customers to check the status of the manufacturing order. This can be done using a link generated along with the Sales Order.

Subcontracting Portal is revamped so that product registration can be outsourced to subcontractors.

7. CRM & Marketing Module

This module has advanced appointment procedures. The back-end is improved for higher visibility and employment processes.

The ultra-modern and enriched front end offers a wonderful work experience.

The improved Marketing Module lets users draft different email templates to meet their business requirements.

Global mailing traits are now much easier and can be modified faster and hassle-free. You can access the contacts easily. You can create a fresh email from the last saved e-mail.

The email marketing feature is enhanced and more efficient for Twitter marketing. It offers exclusive marketing module exposure.

8. Purchase Module

Odoo 16 has worked on the advancement of the Purchase module and included some improved features.

The ‘Call for Tender’ feature is re-modeled to offer a better buying experience. It gives you the liberty to have different options for one purchase. You can select the most appropriate option for the purchase.

Receipt, POS, delivery status, and Purchase orders have also undergone multiple modifications. Now, commercial invoices can be sent online to the delivery partners like DHL, FEDEX, etc.

A new process integrated allows you to select a pick-up location while selecting your shipping or delivery partner.

9. HR & Sign Module

The approver sequence can be set to match the organization’s requirements. It can be altered as per the grade change of the employee.

The ‘Stress Days’ feature allows you to take care of the resources to manage the project as per the priority and deadlines. This will be the period when employees are not allowed to take leaves.

The HR department can manage the performance and progress of the employees with the help of statistics and reports. Also, you can include ‘Signature Request Wizards’ in the plans. You can get the refuse to sign feature as well. This module helps check leave days, allocations, time-offs, etc

Conclusion

We cannot deny the fact that Odoo 16 is a feature-loaded version with even more advanced features than its earlier versions.
Odoo 16 will be easy to use because of its interactive interface and bespoke business management features. The newly added and improved features of Odoo 16 will help manage your business better and boost efficiency.

Atharva System, an Odoo-ready Partner for Odoo services can assist you to integrate Odoo 16 software to help your business stand out from the rest. Implementing Odoo 16 into your system would help you experience better business management.

All product and company names are trademarks™, registered® or copyright© trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.