Tips to plan an impressive budget for Odoo implementation

by Alex Forsyth Developer

Planning an impressive budget is important for keeping all the business requirements in mind. An expert Odoo consultant has listed out a few tips to make a good budget plan for Odoo implementation.

Implementing an ERP has become an essential aspect of every business today, right from the small to enterprise-level businesses. An ERP can ensure to make the entire business management simpler and faster. From warehouse management to inventory management, sales and purchase management, production management, CRM, human resource management, and every other business operation is covered by an ERP like Odoo. An ERP like this can also ensure a smooth workflow and proper communication and collaboration between different departments of a venture. But before getting started with the implementation process for a business, the first and the most important thing you need to do is make a good and impressive budget plan keeping all the business needs in mind and of course the budget of the client.

Now, while preparing a budget plan for ERP implementation, the decision-makers and the management need to consider several things associated with the business and the project scope. If you forget about or do not foresee any of the essential aspects, it may result in a huge loss for the business. Hence, making the budget plan carefully is extremely important.

A skilled Odoo consultant has shared a few tips on how to make a well-planned budget for an ERP implementation here. Let’s take a look.

Plan & Forecast the HR requirements costs:

There is no doubt that any successful ERP development, implementation, and customisation not only includes the technical costs but also includes the charges for the human resources involved in the project. When it comes to ERP implementation, resource involvement also includes both the internal and the external ones. For implementing the ERP, you may need a few third-party consultants and developers for enhanced insights on ERP solutions. And, this will obviously include an additional cost. Apart from this, training is also given to some of the employees to ensure a smooth and effortless implementation of the ERP. This too costs a few bucks. Including all these factors in mind is essential while making the budget plan.

Calculate and consider the technical costs to set up the ERP software:

Calculating and considering the technical costs required to set up the ERP software solution is also an important thing you need to include while planning the budget. The decision-makers and the management need to come up with a well-structured concept according to the business requirements and the project scope. In this case, they can also ask the vendors for the quotes. But yes, you need to compare and see which vendor is providing the most effective quote meeting the functional ratings and the budget of course. Overall, the technical costs include hardware charges, maintenance costs, charges for the application software, network, interfaces, technical support, and technical communications as well.

Consider the contingency costs for any emergency risk:

While implementing and integrating ERP software, you may come across different unforeseen risk factors at different stages. Obviously, you need to make a smart plan to deal with those risk factors. But, there may be some situations as well that may go beyond the organisation control and may cost a few bucks. This makes it essential to prepare a budget including the contingency costs for handling such emergencies.

Data migrations costs must be included:

When you are integrating and implementing a new Enterprise Resource Planning software solution, one of the most vital things you need to do is extract the data and migrate the same to the latest business system. These migration and extraction processes also involve some charges. This makes it important to consider these expenses during budget planning as well.

Keep these points in your mind while making the budget to end up with the well-planned one fitting the client’s budget and every aspect included in the project scope.

Alex Forsyth is an experienced Odoo consultant associated with the most reliable ERP service provider in Australia, Envertis Software Solutions. With expertise and years of experience, the author has written this article to help you to create an impressive budget before starting with any ERP implementation process.