What is Odoo and Its main benefits?

The way we conduct business today is different than it was in the past. The introduction of ERP system software has brought about effective overall management of business processes.

It has been widely recognized for its widespread effectiveness that has significantly benefited businesses worldwide. Nowadays, the use of an ERP system is becoming more and more important because without it routine business tasks cannot be accomplished.

One of the most used ERP software is the Odoo ERP system. But what is Odoo and what exactly has made this particular piece of software so popular?

Introduction to Odoo

Odoo is a cloud-based business management software that offers accounting, inventory, CRM, e-commerce, and other business tools. It was released in 2005 and is now one of the most popular ERPs, with 4.5 million users.

Because of the variety of main functions, Odoo ERP software is widely used by many businesses especially SMEs.

Why you should choose Odoo ERP Software?

1. One solution for your entire business: Odoo is a business software suite that can cover all your needs. It includes modules such as Inventory, Sales, CRM, Accounting, Manufacturing, Human resources, and more. Odoo’s app store has over 10,000 apps, so even specialized industry needs are addressed.
2. Low cost of implementation: Odoo has a relatively low cost of implementation, as well as low recurring costs. One of the reasons has to do with its licensing. Odoo’s Community version has no licensing fees, though it lacks some features along with customer support. Its Enterprise version, which comes with the full set of features, does have licensing fees. However, these are still minuscule compared to those of most other ERP software.
3. Customizable: One of the top Odoo benefits is its customizability: Odoo partners can modify Odoo to fit your business’s individual needs. So even if you have a specific request that goes beyond Odoo’s app store or isn’t sufficiently addressed there, a partner can develop the feature for you. This is extremely valuable because the adoption of a company-wide ERP often comes with huge behavioral changes from your employees and staff. The more you can make the ERP software fit your needs, the less you have to change your business practices, and the more likely your implementation project is to be successful.
4. Easy to implement: Because Odoo has a modular structure (sales, accounting, inventory, etc. split into parts or modules), it can be implemented in a phased approach, e.g. one module at a time. This allows it to proceed at a manageable pace, which is especially useful if you have a large company. It also allows you to test 1) the ability of the implementation partner you’re working with, and 2) the functionality of the software so you can decide whether these two aspects are satisfactory.
   
5. Scalable: One important characteristic of ERP software is that it's scalable and will last your business a long time. You shouldn’t just see the present in your software, but your future as well, and so the software must be able to grow with you. Odoo is fantastic in this regard. If you’re scaling up in terms of employees, you can simply add more users. If you’re scaling in terms of adding more functions to your business (e.g. adding eCommerce, manufacturing, etc.), you can add new modules. If you’re scaling by taking your business global, you can also stick with Odoo (though such a plan is eased by choosing a cloud hosting option — more on this below).
6. Powerful community: One of the largest benefits of working on an open source ERP system is that there is a community in addition to the company working to make the product better. Developers will constantly be analyzing the software for bugs, and they’ll also constantly be adding new features and apps that may be of benefit to you. Odoo incorporates many of these features when it releases its new Enterprise version every year.

Odoo really is one of the best ERP systems available today in the business realm. With an open platform and powerful community, it is on the constant edge of upgradation and improvement.  From high customizability to an affordable cost of implementation, Tinhvan Software is one of the most reliable partners out there providing Odoo Services for your business needs.