Major Reasons why your Business needs Odoo ERP in 2022

by Alex Forsyth Developer

Every business, right from startups to SMEs and enterprises, every business needs an ERP like Odoo today to function efficiently and effectively. Here are the 10 major reasons why your business needs Odoo ERP in 2022.

With the global ERP market expected to reach around 43 billion dollars by the end of 2022, the impact of these software systems is quite evident. While millions of businesses are already using ERP, there are still many organisations that may not have still understood the benefits of the ERP software or why they should get the software implemented now.

With the globalisation of industries, it has become necessary to look out for the right tools to give a competitive edge to your business. However, nowadays, for most companies, this is achieved through an ERP.

Enterprise Resource Planning or ERP is used by businesses looking to manage their operations within an integrated and centralised system. ERP is used by businesses in different sectors like healthcare, eCommerce, hospitality, education, construction, other non-profit groups, and many more industries. Businesses that need to manage their staff, inventory, customers, accounting tasks, huge volumes of sales, purchases, orders, etc., can rely on the ERP benefits. However, when it comes to ERP selection, most businesses trust Odoo ERP today.

Odoo stores all business data entered into a centralised database, allowing employees of all the departments to access the same information. In addition to that, having access to the database, the employees can use the data for analysing the business information and generating reports. An all-in-one integrated ERP solution like Odoo brings together human resources, customer relationships, business intelligence, inventory management, supply chain capabilities, and all the other business functions into one system.

Some startups or SMEs may still have a misconception that ERP may not be necessary for them. But the fact is that an ERP like Odoo is what every business needs today irrespective of the size of the business. Every business plans to expand and that's the key reason why ERP is required.

Here's why your business needs Odoo ERP in 2022.

Cut down the lengthy workflows:

As a company grows, the workload and the complications and difficulty to manage the tasks also increase exponentially. Even though startups can cope up with the traditional software systems or free accounting systems and spreadsheets to manage their tasks in the beginning, with their expansion sooner or later, using these slow manual resources and cumbersome logistics can hamper their performances. Unable to meet customer demands can potentially slow down and alleviate the business growth. Odoo ERP ensures to automate business tasks and processes, resulting in simplified, automated, fast, and streamlined workflows.

Odoo saves a lot of money:

Although it may seem to many businesses that ERP packages are expensive, Odoo ensures to be an affordable solution that offers flexible pricing as per the business requirements. Moreover, Odoo is a complete suite of business management applications that ensures to manage all business operations from a single platform. With Odoo, businesses won't have to invest in multiple software systems. This again reduces the operational costs, ending up saving a lot of money.

Odoo unifies all business areas and processes that may be fragmented in your organisation. From customer relationships management to accounting, sales and orders management, etc., your employees will be able to access all from one centralised system or database with Odoo. That means they won't have to hunt multiple systems for a price of information. Data is much easier to retrieve from a central database. Moreover, you can save money with the software by eliminating the need to train the users on how to use several systems.

Improved collaboration:

As mentioned earlier, the centralised database maintained by Odoo ensures improved collaboration and communication between different business departments. With every information stored in a single database, every employee of every department can fetch any information required from the database without depending on each other. For instance, if the accounting team needs any information related to sales, the team member won't have to rely on the sales department to get the data. The employees of the accounting department only can directly retrieve the required data from the database because of all the data compiled and stored in one place. This also eases data flow and data transparency.

Better analytics:

The centralised database also helps in improving business analytics and reporting. With all information stored in one place, Odoo makes it easy to generate various reports based on different aspects of the business. Moreover, Odoo offers a customisable dashboard so that the employees can see the reports any time they want. The access to these reports enables employees or businesses to make faster and better decisions. There's no need to rely anymore on the IT staff of the company to generate the reports.

Increased productivity:

Odoo automates tedious business tasks and helps to meet customer demands easily in less time span. Or in other words, Odoo automates the tasks that in turn, speeds up the tasks, resulting in increased productivity in a shorter time period. The increased productivity also increases the efficiency of the workflow, and the overall business ROI.

Happier customers:

Having the access to the centralised database where all the business data is stored, answering back to customer queries becomes easy. Having all information in front, providing real-time response and support to the customers becomes possible with Odoo. This results in customer satisfaction and happier customers.

Not just these, having thousands of different modules and applications for managing different business processes, Odoo ensures to streamline, automate, and efficiently manage business inventory, resources, production, accounting, finances, and the other operations of a business. It reduces the overall operational cost by automating these processes and managing these from a single platform. Odoo acts as a single tool for entire business management and that's the reason to get it implemented into your business system in 2022.

Alex Forsyth is an experienced Odoo ERP consultant associated with a trusted Odoo implementation and consultancy firm in Australia, Envertis Software Solutions. The author has written this article to outline the benefits of Odoo implementation in 2022.