Odoo is an open-source software that is categorized under an enterprise resource planning (ERP) software package. ERP software’s are bundled applications that can take care of end to end business needs.
Popularly referred to as ‘Modules’, different applications can take care of multiple business processes like Billing, Accounting, Manufacturing, Purchasing, Sales, Warehouse management, Human resource management, Customer Relationship Management etc.
There are many ERP software’s available which are generally classified based on their licensing rights. Depending on the developer, the software could either be an licensed software or an open source software. SAP, Oracle, IBM – Maximo (MRO), Tata Consultancy Services – iON, & Microsoft-Microsoft Dynamics AX are proprietary ERP software. Many open source software platforms like Adempiere, ERPNEXT, Openbravo & Odoo have gained traction. These software’s are usually coded in python, PHP or Java.
There are many advantages to implementing an Enterprise Resource Planning (ERP) software system. Besides many other benefits, implementing ERP software can improve productivity, increase efficiency, decrease costs and streamline processes leading to an increase in overall efficiency of the organization. Broadly the benefits flow in the four main categories:-
Efficiency: An ERP system streamlines business processes, eliminating repetitive processes & reduces the need for manual data entry. Processes like approvals, requests, queries can be processed faster.
Integrated Information: Collating data from multiple sources and directories into a centralized database makes it easier to generate insights and help in decision making. Data is also kept consistent and up-to-date facilitating a dynamic organization.
Reporting: ERP software makes reporting easier and more customization. With improved reporting capabilities, your organization can respond to complex data requests more easily. Employees can also run their own reports from the system improving accessibility of data.
Customer Relationship Management: It’s easier to provide high-quality customer service using an ERP system. Sales and customer service people can interact with customers better and improve relationships with them, through faster, more accurate access to customers’ information and history.
Odoo has been a strong contender in the open source ERP category. Initially named as Tiny ERP and later renamed open-ERP, it was finally christened Odoo which reflected the multiple functions performed which are more than what a traditional ERP platform provides. These custom-tailored apps are off-shoots of the already existing 30 core modules that are standard issue with Odoo.
Odoo differentiates itself by being simple and intuitive. Their ideology is based on the fact that business software should cover complex needs without being complicated. Their mission as updated on their website is -“ to provide software that is intuitive, full-featured, tightly integrated, effortless to upgrade, all while running smoothly for every business, every user”. Some of the major reasons that make Odoo a competitive choice are:-
Open-source: As Odoo is an open source software that can be freely downloaded from the internet there are no licensing fees or other hidden costs. It can be freely downloaded and modified to suit organizational needs. This ensures that the consumer has access to the complete source code.
Flexible and Comprehensive: ERP software’s require a high level of integration with your organization which mandates that the software should be highly flexible to give a perfect fit. There cannot be any compromise on functionality and adaptability of the ERP in line with your business functions and processes. With over a 1000 modules available on the Odoo market and new ones being developed almost every-day, the Global developer network is one of the most comprehensive networks that takes care of evolving needs of your business.
Customization: Since an ERP will integrate with a host of essential functions like accounting, sales, production, warehousing etc, it is very important that the platforms are customized to suit the organizational needs. Being an open source software, customization is one of the biggest strengths of Odoo ERP. A custom tailor-made ERP is better placed to support an organization and improve its efficiency.
Easy migration: Odoo allows for easier and efficient migration with already existing ERP systems paving the way for a unified & centralized ERP system which makes administration and management very intuitive and easy.
Modular implementation: Odoo is able to offer a high degree of customization to organizations. It can be implemented module-wise allowing organizations to have leaner Erp’s and implement required modules in a phased manner. This lowers the cost of implementation and more importantly it incentivizes smaller organizations to implement Odoo at an earlier stage and later upgrade their modules when required.
Hosting flexibility: Odoo can be hosted on-site or on a cloud platform giving more leverage and cutting down costs. This saves time, manpower and infrastructure directed towards hosting it on a server.
Low cost of ownership: One of the essential factors that is highly considered in choosing an ERP software is its cost of operation and implementation per user. Since Odoo is an open source software, it can be scaled up to accommodate new users with zero cost. Funds can therefore be directed towards effective customization and implementation.
Vibrant Community: The biggest strength that Odoo has lies in its dedicated community that is actively developing new apps for use by the community. ERP systems are a long term investment with a considerably long time-period of application. Having a dedicated support staff adds to the long-term evaluation of Odoo. The community also serves as a measure of trust that has been garnered by Odoo.
Odoo supports and promotes growth of your organization. Creating and managing the growth is at your fingertips with Odoo ERP. Contact us for a demonstration of what Odoo can do for your organization!!