Benefits of Odoo for Your Trading Business

by Alex Forsyth Developer

Odoo ERP has proved to be the perfect fit for different business sectors including trading businesses. Here are the benefits of using Odoo in a trading business, shared by a consultant of Odoo in Australia.

Any exchange of commodities or goods in return for money is termed trading. Every business in which a trader collects goods from any other person and then sells the goods to a different person is called a trading business. The selling and procurement of various types of goods including electronic appliances, manufactured products, and other types of goods fall under the trading business category.

Odoo ERP is the best software system for managing trading business processes. It helps in coordinating all functions and operations involved in running a trading business.

Systemisation of trading business activities including assembling, arrangements of goods, displaying database management, POS management, stock management, and the other functions, thereby, making trading businesses enjoy a more efficient and smooth workflow.

Apart from offering extensive support and services for automating and managing different aspects of trading. Odoo for trading also gives complete support to ease out sales, accounting, purchases, report generation, inventory control, customer relationships management, and supplies.

Here, in this article, you can go through the functions that can be benefited from the Odoo trading ERP solution, shared by a professional of Odoo in Australia.

Purchasing:

Purchasing is one of the most time-consuming tasks in a trading business. A series of activities are involved in the purchasing process. Selection of goods required by the trading firm, identification of companies that need to be included in the checklist of the purchasing firms, proper purchase records maintenance, generating quotations, and completing the purchasing processes are all part of the purchasing phase. The quality of the goods purchases, refund and return policy, services offered by the firms, etc., are some of the crucial factors in purchase management. Odoo helps in identifying the right purchase sources and lists these out in the ERP software. Prioritising and blacklisting of purchase sources also become efficient with this ERP solution.

Purchase Order or PO management:

Purchase Orders or PO generation, if executed manually, can take a long time. But with Odoo trading software, PO generation can be a simple process. Sending the purchase orders and reviewing quotations with Odoo ERP can save a lot of time and improve the efficiency of the tasks. Also, with Odoo ERP, the traders and vendors can easily approve the purchase orders online and complete the process. This allows for faster packing of the goods.

The sales order generation, another vital part of the trading business, also gains momentum with the Odoo trading ERP software.

Dropshipping:

The dropshipping feature of Odoo trading ERP software can benefit every trading business. With this facility, the traders, who do not maintain their own warehouses, can direct all purchases to the vendors, who can, in turn, deliver the goods anywhere in the world.

Vendor list management:

Managing the list of the vendors involved in a trading business can be done automatically and efficiently with Odoo ERP. With this, you can also categorise the vendors, rate their performances, and manage all their details.

Sales management:

Sales, one of the most crucial aspects of a trading firm, can be managed and regulated with Odoo ERP. The coordination of various aspects of the sales can be done in a hassle-free way.

Automated generation of sales orders and sales quotations:

The Odoo ERP is the best software system for automatically generating sales orders and sales quotations. This is done by analysing the incident history and by reviewing the older quotations.

Sales orders are automatically generated with Odoo ERP. The sales order gets generated right at the moment when the customer shows interest to purchase the product online. The price, units for sale, and the other aspects are considered to generate the order.

Price list:

The buyers must be able to clearly understand the price list. Odoo ERP assures a prominent display of the price list with all required information.

Coupons and promotions:

Odoo helps to generate unique coupons and promotion codes and helps to easily send these to the customers.

Inclusion and exclusion of taxes on pricing:

Before every purchase, customers want to know about the taxes on the pricing. Additional charges or taxes can sometimes create confusion. With Odoo, you can send a clear invoice about the taxes that are included and excluded on the pricing of the products, to the customers.

Multiple customer address management:

Odoo enables easy management of multiple addresses of multiple customers at a time.

Shipping cost:

The inclusion and exclusion of shipping costs can bring a huge difference in the product pricing. The shipping cost, if any, can be clearly mentioned under the products, during the preparation of the sales orders, during the sales process, or at the time of generating or sending the final invoice.

Apart from these few, when it comes to managing a trading business, Odoo helps with customer relationships management, inventory control, package management, expiry date management, tracking, stock forecasting, invoicing, report generation, accounting, and almost every operation that is carried out within a trading firm.

Alex Forsyth is a highly experienced consultant of Odoo in Australia, associated with a reliable Odoo implementation company, Envertis Software Solutions. The author has written several useful articles on Odoo and has written this one to let you know the benefits of using Odoo in a trading business.