What is Odoo ERP? A Complete Guide

If you understand ERP and CRM and want to know about Odoo, this blog article is the right place. This blog article is a comprehensive write-up on Odoo, an Enterprise Resource Planning solution.

This blog article includes:

What is an ERP?

ERP is an acronym for Enterprise Resource Planning used to manage and integrate various aspects of business operations. An ERP system integrates different business departments like accounting, inventory, ordering, and sales for a seamless flow of information to ensure coordination.

Functionalities of an ERP

• ERP provides a centralized database. It can be accessed easily anywhere and anytime.
• Integrates supply chain management, inventory management, analytics, marketing, and accounting, offering a consolidated approach.
• Provides end-to-end visibility and traceability.
• Only some Odoo implementation services are effective. You need expert guidance for efficient use of the system.

Understanding Odoo ERP / History of Odoo

Odoo, or On-demand Open Object, is open-source Enterprise Resource Planning software that offers multiple applications under one roof to integrate your entire business operations. It provides enterprise solutions regardless of your business type and industry.

Odoo is a business suite of Belgian origin that integrates multiple software solutions for sales and marketing, finance, manufacturing and inventory, supply chain management, human resources, services, and e-commerce.

Odoo Editions – Community and Enterprise

Odoo is available in two editions- Odoo Community (open-source) and Odoo Enterprise (licensed).

Odoo Community

Odoo Community is a free version of the platform, which makes it an attractive choice for businesses with limited budgets. This platform offers foundational modules like sales, inventory management, and CRM. Even though the Community platform offers basic modules with limited customizations, they are sufficient for startups and small businesses.

Features of Odoo Community

• Available on desktop/web browser.
• The standard Odoo Community is available for free. The custom Odoo Community is available only for a few apps.
• Odoo Community users don’t receive general partner support. Businesses using this version mainly rely on community forums and resources for assistance.

Odoo Enterprise

Odoo Enterprise is a more flexible and effective version of Odoo Community and offers advanced functionalities. The flexibility for customizations and integrations enables businesses to develop solutions that fit perfectly.

Features of Odoo Enterprise

• Available on desktop/web browsers and mobile devices – iOS and Android.
• The standard Odoo Enterprise pricing is $31.10 and the custom plan is $46.7 per month for all applications.
• Odoo Enterprise users receive all the general partner support, like function support, version upgrades, hosting, and unlimited bug fixing.
• The Studio app is only accessible to Odoo Enterprise users. It enables the users to create custom applications easily.

Modules of Odoo ERP

Odoo ERP offers various modules that help you manage your entire business operations. These modules connect all your business departments and ensure a seamless flow of information from one department to another. These modules include:

Inventory

The inventory module allows you to customize your inventory management software based on your requirements to prevent stockouts and overstocking. You can also make unlimited integrations to increase the scope of this software. For instance, you can integrate this module with warehouse management software to gather real-time stock data to improve the efficiency of your business.

Manufacturing

The manufacturing module includes Material Resource Planning, Manufacturing Execution System, Quality Assurance, shop floor, and maintenance, providing a one-stop solution for your manufacturing business. The system can assist you in simulating manufacturing orders with capacity planning in real-time, while the shop floor feature enables you to streamline production.

Subscription

The Odoo Subscription module manages recurring sales and subscriptions. The platform automates the invoicing process and manages taxes and payments. The module creates sales contracts with basic scenarios that speed up the process. The platform improves sales performance, analyzes earnings, and helps you strategize future business sales.

CRM

Odoo is an integrated ERP and CRM platform for managing and tracking your business operations and customers. The platform offers a personalized customer experience that improves customer satisfaction rates. The CRM allows you to manage all your customer interactions, starting from marketing initiatives, throughout the sales process, and the customer service or after-sales process.

Point of Sale

The point of sale or POS in the Odoo module is an end-to-end solution for retailers to manage their sales, inventory, finances, and customers. These are the systems used in brick-and-mortar retail stores that store all the information about the products in the store, sales made, customers, stocks available, and replenished.

Sales

The sales module in Odoo enables you to create clean and professional sales offers with an offer builder. The sales platform allows you to manage sales offers, customer support, and e-commerce stores on one platform. You can integrate other Odoo modules like e-commerce, manufacturing, inventory, and ordering to manage your business on a single platform.

Accounting

Odoo’s accounting software is an AI-powered solution that generates invoices quickly. The accounting platform supports bank integrations that automate reconciliation. Odoo supports more than 28,000 banks worldwide and provides automatic financial ledger matching. The platform is highly compatible, automates follow-ups, provides real-time reporting, and adds validations for invoice acceptance or rejection.

Purchase

The purchase module automates the procurement process to ensure timely replenishment. It allows you to create repurchase rules to simplify Request for Quote (RFQ) and purchase order processes. You can also create custom replenishment rules and methods to synchronize your most important process. You can create an automated and customizable purchase agreement. You can integrate the purchase order with accounting software to track the financials and inventory software to know when to place a purchase order.

Field service

The field service module is for service-based businesses that provide field services like car washing, lawn mowing, cleaning servicing, etc. The system can be customized based on the nature of your service and need. Odoo provides mobile apps to manage appointments from start to finish, from completing timesheets to updating inventory.

Human resources

The human resources module enables you to manage your employees, recruitment, time-offs, appraisals, referrals, and drivers. The system offers a centralized platform for employee management. You can track your recruitment pipeline and ensure that the best and most skilled people join your team. The HR module enables you to track attendance and leaves, simplifying the salary processing.

Rental

The Odoo Rental module simplifies the rental process, from managing products and scheduling pickups to signing documents. You can integrate Odoo e-commerce to allow your customers to make online bookings. The system enables you to create custom pricing for each product based on different time frames.

Approvals

Odoo approvals streamline the approval process. You can send approval requests for any sales document or quote and the approver can accept or reject the request. You do not have to physically go to the person from whom you want to receive the approval.

E-commerce

Odoo’s e-commerce module allows you to create a store, portal, and marketplace website and application. The platform enables you to integrate other modules, like inventory management, CRM, order management, payment management, etc. You can develop an end-to-end solution for your e-commerce business.

Benefits of implementing Odoo

Odoo is a one-stop ERP solution for all your business needs, regardless of size and type. This ERP software aims to streamline and optimize your business processes to improve efficiency, productivity, and profitability. The benefits of implementing Odoo into your business are:

Centralized business processes

Odoo is an all-in-one platform for all your business needs that centralizes operations and enables you to manage all your operations from a single platform. The platform connects multiple software solutions and stores all the data in a single place. It allows you to access all the business data from a single platform.

Customizable and flexible platform

Odoo is highly customizable and enables developers to create tailored solutions for your unique business needs. This flexible platform allows you to expand your business while increasing your customer base without impacting operational efficiency.

Improved efficiency

Odoo automates and optimizes business operations. It provides complete visibility and traceability of operations and products, minimizing human interference and manual entries. This reduces the number of errors and reworks, saving money and increasing profits. Automation streamlines processes and improves productivity and ROI.

Complete business process visibility

It is a centralized platform to track your business from a single screen. You can track and manage your business, from procurement and manufacturing to warehousing and retail. You can manage your operations like a manufacturing execution system, inventory management, order management, delivery management, point of sale management, accounting, and data analytics. You can monitor all these processes from a single process.

Integrated customer relationship management

Odoo is an integrated Enterprise Resource Planning and Customer Relationship Management platform. Odoo allows you to manage and track your operations and customers, contributing to optimized operations and increased customer loyalty. Customer relationship management streamlines marketing, sales, and the after-service process.

Cloud-based deployment

Odoo ERP is available for both on-premises and cloud implementations. The cloud-based, which means that all data is saved on the internet and accessible from any location at any time.

What are the types of businesses and industries Odoo serves?

Odoo ERP and CRM is an integrated platform for your business. It serves all business types, from start-ups and small and medium-sized enterprises to larger enterprises across various industries. These industries include:

• Retail
• Manufacturing
• Logistics
• E-commerce
• Warehousing
• Distribution
• FMCG
• Professional Services
• Education
• Healthcare

Types of Odoo ERP services

Master Software Solutions offers Odoo services that can guide and help you create tailored solutions that perfectly fit your business. The Odoo services we provide are:

Odoo implementation

We work closely with your team to understand your business flow and provide a custom suite of applications. Our Odoo implementation services provide expert consultation and tailored solutions for your business processes and ensure a smooth transition to maximize efficiency.

ERP migration

We provide migration services, including upgrading your existing system to a newer version or from another platform to Odoo. We help you migrate data to a newer version while preserving previous customizations.

Odoo customizations

Our Odoo ERP customization services provide customers with Odoo ERP solutions that fulfill your business demands. We help you modify existing features develop new features, and ensure that the ERP solution perfectly fits your business.

Odoo consulting

We are Odoo’s premier partners and can guide you throughout the Odoo implementation journey. We provide step-by-step guidance including technical business consultation, Odoo module development and customization, and Odoo migration and integration services.

Odoo Integration

We connect your Odoo ERP system with third-party applications to automate workflow and improve data accuracy and visibility. We can integrate multiple platforms, like e-commerce, POS, inventory management, accounting, data and analytics, supply chain management, human resources, etc.

Development services

We develop websites and mobile and web applications that are fully integrated, dynamic, and customized according to your business needs. We can build a scalable, flexible website from scratch or a fresh business app.

Odoo module development

We offer tailored Odoo module development services to create a fully integrated business solution. Our developers can build new functionalities, and third-party integrations, and modify existing modules.

Odoo support and maintenance

We offer after-development services to ensure that your ERP system operates seamlessly and efficiently all the time. Our team identifies and resolves issues, customizes features to align them with your business needs, ensures minimum downtime, and improves system performance.

How can Master Software Solutions help you implement Odoo?

Master Software Solutions is an Odoo ERP consulting and implementation company that provides end-to-end Odoo services for all businesses, regardless of type. We are a team of 90+ skilled ERP developers with extensive knowledge of Odoo ERP. If you are looking forward to implementing the Odoo ERP system, book a consultation meeting and see how we can help your business.