7 Benefits of Odoo Implementation for Trading Businesses

by Alex Forsyth Developer

Like many other business sectors like manufacturing, wholesales, healthcare, eCommerce and more, every trading business today should also choose a reliable Odoo implementation partner and here are the benefits of it you need to know.

Just like the other business verticals like construction, eCommerce, real estate, manufacturing, retail, wholesale, and more, trading businesses also have to carry out and overcome several complex and challenging processes and activities every single day. And here comes the role and need of the right ERP solution for the trading industry - Odoo ERP. Choosing a reliable Odoo implementation partner has become a must for every trading business today to cope up with the challenges, processes, and huge consumer demands. Implementing this ERP can cater to all the trading business requirements easily. The software comes with all the modules and applications like modules for managing accounting, customer relationships, human resources, trading, inventory, etc., a trading business would need to function efficiently and effectively. Implementing the software can also lead to an increase in productivity, automated processes, and an overall streamlined workflow.

Apart from this, there are many more reasons and benefits of Odoo implementation for the trading business sector and here they are unfolded for you to know.

Benefits of Odoo implementation for trading businesses.

Enhances the overall efficiency:

A fully integrated ERP software system like Odoo can ensure to increase the overall productivity and efficiency of your trading business. It can also reduce the total time spent by every department on the day-to-day business tasks by automating and accelerating the processes and tasks. Also, it can be said that the ERP enhances employee efficiency by minimising the manual monitoring of the tasks.

Centralised data storage:

Odoo can create a centralised database to enhance the internal data flow and data transfer. The single and centralised database where the ERP stores all the business data enables the employees of all the departments to easily access the same and retrieve any required data. Say, for instance, the sales department needs some data about the customers or the purchases. Well, the employees of the sales team can easily view the required data stores in the centralised database. This also improves the communication and collaboration between the different departments in a trading business.

Increases transparency in the workflow:

The ERP centralises all data, that is it stores all information in one place to ensure easy access and visualisation of the data by the employees of all departments of the business. For instance, if the employees of the accounting department need any information about the customers or the sales, they can easily fetch the data. And this increases the transparency in the entire workflow.

Improves Customer Relationship Management:

Odoo implementation enhances the efficiency of Customer Relationship Management operations . The software enables the business merchants or the users to prioritise the follow up of the sales operations in the pipeline. Odoo implementation also enables the trading business merchants to easily track the sales orders. The software system collects all the required inputs about the customers and the business in a single location and ensures transparency and real-time Customer Relationship Management and customer support services within the trading business. Additionally, the software routes the business activities with the aim to get more sales and revenue generation.

Enhances purchase management:

Odoo comes with a purchase management module that automates and efficiently manages the purchase operations in the trading businesses. It also enables the business merchants or users to send requests for quotations or send RFQ automatically to the suppliers depending on the stock levels. Implementing this software into a trading business also improves the inventory and purchase performance depending on the stock levels, logistic rules, etc.

The ERP also analyses, and forecasts the purchase orders. Trading businesses can also get exact statistics based on the performance of the suppliers via the negotiated discounts on prices, purchased quantities, and the flexible reporting of products’ delivery delays. Additionally, integrating analytic accounting with purchases enables the users or business merchants to analyse the profitability factor.

Improved Human Resource Management:

Implementing Odoo ERP into a trading business ensures to streamline, automate, and efficiently manage the human resource management or the HRM process. It enables the users to maintain a single robust database to store all the essential information like the salary details, attendance details, contact information, performance evaluations details, and more about the human resources of the company or the business. The HRM module of the ERP comes with features like employee dictionaries, recruitment management, timesheet management, payroll management and expense management.

Efficient warehouse and product management in a trading business:

The warehouse management module of the ERP is packed with innumerable features that ensure increased productivity, better consistency, more efficiency, and better quality control. A trading business system can easily and effectively manage the external and internal locations, suppliers, customers, and inventories to provide the real-time data to the decision-makers. In fact, if you have warehouses in different locations, the warehouse management module of the ERP can also help in effectively managing the warehouses of all the locations.

Also, with the implementation of Odoo, trading businesses can seamlessly manage unlimited products, categories, and different product variants at a time.

So, these were the benefits of implementing the software system in trading businesses. And if you are one of the trading business owners then hope this article was helpful enough for you and helped you to know the key reasons why you need this ERP for your trading business now.

Alex Forsyth is an expert Odoo consultant associated with a leading and trusted Odoo implementation partner in Australia, Envertis Software Solutions. The author has written this article to let you know the benefits of Odoo implementation for trading businesses now as well as the other business sectors.