Key Features of the Odoo Enterprise Software

by Alex Forsyth Developer

The Odoo ERP has some key functionalities which make it useful for every organisation. Hire the Odoo functional consultants for the implementation of this high-quality software.

The Odoo ERP software is a form of integrated software application which standardizes, integrates and streamlines business processes across all verticals. It automates the work of every department - from accounting to HR and inventory. It usually operates on the basis of a single dashboard, making use of common data definitions which are accessible to all.

Today, the use of Odoo ERP has expanded across all industries like healthcare, education, hospitality, government services etc. Odoo ERP implementation has its own effectiveness and efficiency where all information is kept protected against outside invasion. It organises the companies shared transactional data so that everyone can have equal access to it; the distribution is much simpler and less error-free. Most importantly, it reduces the time required to do manual tasks, the tediousness of it, therefore also promoting collaboration and better decision making.

Odoo ERP has some key features. Below these are discussed in details

1. Financial management

For any big or small organisation, the management of finances and accounts is a huge responsibility. The Odoo ERP analyses and monitors different kinds of enterprise financial data across all the departments. This includes payable accounts, receivable costs, budgets, forecasts etc. it helps reveal real-time data and insights regarding the total spendings, discoverable profit, unusually high expenditure etc. one can also discover the latest profits trends, by putting this accumulated data into us. This is also beneficial and strategic planning for the company.

With the Odoo software, one can improve the flow of cash, bringing down costs besides increasing profitability. The reporting of accurate details ensures that the accounting department is in their full work speed.

2. Marketing and sales

The sales and the marketing department handles the major portion of the workflow; from sales inquiry, invoices, quotations etc. The Odoo ERP is useful in this case in that it features extraordinary elements that show taxation rules, a tracker for shipping etc. the modules for Sales and CRM work together, thus speeding up the sales cycle and helping the company earn more profits. While trying to manually control the sales margin and profit rations is a tedious job, the Odoo ERP makes the work easy for everyone. The job can be automated and the tracking of the data can be done without hindrance. The metrics alert the company the changes that need to be made to foster more growth.

3. Human Resource

Employees are the number one priority for all organisations. With the Odoo ERP, one can manage the workload of the HR component of the company. This way, one is able to handle the full scope of the employee, right from onboarding to onboarding, managing the salary, leave details, bonus payments, compensation to time maintenance etc. The payroll management part of the software is also very useful and functional. The payment automation also includes tax and benefits deductions, hence making the work easier for the administration.

4. Manufacturing

This is another key module of the Odoo ERP software which makes the manufacturing part of the job much more productive. From material sourcing, managing the daily production list, daily monitoring, product featuring etc, the Odoo software takes care of everything. It automates functions like bill preparing, scheduling for production, shop floor control, planning the distribution etc.

The Odoo module is tightly integrated along with the SCM and inventory module in special areas like product planning, warehouse and inventory control, maintaining stock targets, location-based tracking and others. With this, one can organise and categorise their inventory to make it look more professional, managing detailed warehouse data, maintaining records for supply movement, delivery, shipment etc. In this manner, the inventory manager gets a bigger grasp over his work.

Hence, implementing this software in every organisation makes their work more organised with minimal chances of database maintenance errors. One can also hire a good Odoo Consultant for the best services in this field.

Alex Forsyth is an expert consultant associated with a reputed Odoo ERP Implementation company named Envertis Software Solutions. The author has written this article to convey to the readers the essential features of the Odoo Software which help the organisations carry out their work efficiently.