7 Ways how Odoo ERP improves your Business System

by Alex Forsyth Developer

Odoo ERP can help businesses of different sectors and sizes, automate their operations from a single platform. Right from finances, to accounting tasks, data entry, sales, orders, purchases, customer relationships, human resources, supply chain, inventory, warehouses, and more, all can be streamlined and automated with an ERP system.

Odoo is a centralised and comprehensive business management software system that ensures to bring together all business processes within a single platform and streamlines the entire workflow of an organisation with a single integrated system. Odoo comprises and combines thousands of different modules to meet the specific needs of every company and serve different industries.

This single platform or software solution is designed around a common and centralised database that enables the employees of every department of an organisation to access all business data and check what’s currently going on in any part of the business. Odoo also allows the integration of external third parties like shipping partners, logistics and banks.

Odoo ERP has been around for many years and is now trusted and owned by over 7 million users across the globe. Over the years, Odoo has spread into different facets of business operations and has proved to be the best ERP solution for almost every business size and vertical today, boosted by cloud-based solutions and faster internet speed. Right from startups to SMEs and enterprises should look for a reliable and experienced Odoo ERP consultant for customised Odoo solutions and for an automated and efficient workflow.

And here’s how Odoo improves a business system and its operations.

Centralised control:

Odoo centralises and stores all business data in a single location and in a common database, which leads to better and smooth communication and collaboration between different business departments. The centralised database can be accessed by all the employees of all departments. This centralised database management replaces the practice of every department creating and maintaining a different database and separate spreadsheets. Also, you do not have to enter any data more than once in the ERP system which offers other benefits like enhanced data security, higher data integrity, and reliable data backup.

Improved inventory management and inventory forecasting:

Improved inventory management helps business owners or managers to keep a check on the availability of the supplies and the key elements to meet the production goals of the business. For this, ERP software systems can offer deep insights to help business owners and managers take critical business decisions easily and quickly.

Instead of simply revealing business data on stock levels, Odoo ERP can deliver more accurate business information that helps managers and business owners have better control over their inventory usage. Along with inventory management, Odoo can deliver critical analytics and insights needed to give more accurate demand forecasting as well as supply chain management. When business data from the internal departments like sales, marketing, customer service, etc., are stored in one centralised location, it becomes easy to identify customer trends and requirements and forecast future needs.

For instance, in the case of eCommerce businesses, with this feature of Odoo, managers can easily analyse the data points, including purchasing behaviours of the customers, browsing behaviours, customer search, etc., in order to determine which are the most demanding products. Accordingly, businesses can budget and restock their products to ensure that those products are always in stock.

Better business management:

Managers can easily check where the business needs improvements and which processes need to be managed automatically and more efficiently. For instance, Odoo ERP can show much products have been manufactured in a day or how many goods can be shipped in a day as well as the profit and loss factors. This also gives managers an insight into the things that lead to operational issues like lack of training, poor handling of the operation, etc., and take the necessary actions.

Enhanced and real-time customer service:

Odoo ERP system gives complete visibility to the customers’ records. When a customer calls or enquires about something, you can get to see who is calling, what the customer has previously bought, what the customer is now asking for, whether the required product is in stock or not, etc., all without having to contact the other departments and check different spreadsheets. This not only improves customer service but also allows you to get back to the customers with the answers to their queries in real-time.

Increased sales and productivity:

Business data stored in the ERP system will alert organisations of the change in sales and profit margins. For example, it will give an alert when the buying pattern of any customer will change. For example, if any customer stops buying any product, the sales management application of the ERP can send an alert and the sales team of the company can take necessary actions to make the customer purchase the product. Odoo ERP comes with a separate sales management module that is integrated to manage huge volumes of sales efficiently and effectively.

Also, Odoo increases the overall business productivity by automating the processes that enable more productivity in less time. Hence, meeting the huge customer demands becomes easy with Odoo.

Mobility:

With Odoo, employees can easily access all systems right from tablets to smartphones, or PDAs that are Personal Digital Assistants, at any time without staying at their desks.

Analytics:

With Odoo ERP, you can easily fetch any data you need from the centralised database for doing complete business analysis, generating reports, managing dashboards, and spanning multiple departments.

Long-term planning:

Odoo ERP can be used as a tool to forecast sales in terms of months or the upcoming years. Once the organisation has finalised the forecast, the ERP will assess what quantity of raw materials are required to produce a certain volume of the end product, enabling businesses to talk to the suppliers and then plan inventory at an affordable price and at the right time.

Apart from these, Odoo helps with other aspects like logistics management and regulatory compliance, again adding value to the business.

Today, reliable and leading Odoo implementation companies ensure to provide end-to-end Odoo implementation solutions right from planning to ERP configuration, customisation, integration, development, training, go-live support, ERP maintenance, and migration solutions, irrespective of the business size and industry type. Be it a manufacturing firm, a trading business, an eCommerce venture, a construction firm, a healthcare centre, an educational institute, or any other industry, Odoo’s customisability, flexibility, and scalability can make it the perfect fit for all business needs and objectives.

Alex Forsyth is a highly experienced Odoo ERP consultant associated with a leading and trusted Odoo implementation company in Australia, Envertis Software Solutions. The author has written this article to let you know how Odoo strengthens business systems and streamlines business workflows, enhancing the overall productivity and efficiency.