Importance Of A Smart ERP Plan For Business Success
Businesses around the world are adopting enterprise resource planning to streamline planning and processes. If you’ve been wondering if an ERP system is a worthwhile investment or you don’t know who is an Odoo developer, this article will help you decide. We show you the specific advantages that ERP, and Odoo in particular, brings to your business.
Enterprise Resource Planning (ERP) definition:
Enterprise resource planning (ERP) is a process by which a company (often a manufacturer) manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance and human resources. Investopedia
There are many ERP solutions, but they all have one goal in common: drawing efficiencies from a seamless resource planning platform.
Odoo developers develop and customize this open source ERP software to make your organization’s planning more efficient. The process can save your company time and money, giving you an operating edge.
Odoo Among Highest Rated ERP Software
Odoo started in 2005 and now contains more than 10,000 apps. These range from website builders to CRM, timesheet tracking and quality management for manufacturing.
What distinguishes this ERP from alternatives like SAP, Salesforce, and others is its focus on integration. With Odoo, you do not mix and match technology from different vendors. The ability to have software from one repository that interoperates smoothly between different modules has made the system highly popular.
The software comes in two versions: Community Edition and the Enterprise Edition. The Community Edition of the system is both open source and available free of charge. This makes it a great choice for small businesses and entrepreneurial organizations. They can access all the major advantages of the solution for free and implement efficiencies in their businesses.
On the other hand, larger enterprises that have unique support and customization requirements can avail the Enterprise Edition. The Enterprise Edition comes with extra features that improve Odoo’s capabilities, including:
- Mobile interface
- Version upgrades
- Enhanced shipping support integrated with shipping providers such as FedEx
- Access to A/B testing in the website builder
Among the most popular ERP systems, Odoo is now in the top three, according to data by Capterra. Capterra compared ERP systems based on the number of installs as well as the community activity.
Below we chart the ten most popular ERP systems.
Odoo is tied with Sage in second place, having 100,000 customer organizations with a total 2 million individual users. Below, we highlight some of the modules that will spur your organization forward and improve business performance.
Odoo Provides Powerful CRM Capabilities
Why Your Enterprise Needs A CRM
Odoo comes with a powerful CRM module that helps you build strong relationships with your customers. CRM stands for customer relationship management.
With a CRM system, your enterprise can manage the end to end process of building business relationships with customers. You can manage metrics that show you room for improvement in your customers’ experience of doing business with you. The CRM system enables you to track the effectiveness of your current practices in retaining customers.
Advantages Of Using Odoo As A CRM
The CRM system stands out for its holistic approach and thoughtfulness. Being a system designed by the same experts as the rest of the Odoo system, it reflects an emphasis on ease of use.
Using the CRM, you can message clients, schedule appointments as well as track objectives around customer interaction.
In a business review of using the Odoo CRM, Vectis, a European management consulting business, noted some of the advantages Odoo brought to the business. Chief among these were the time savings and cost reductions they experienced. These were attained thanks to the nearly effortless connection between the CRM and other Odoo modules.
By adopting the CRM, Vectis reduced the prevalence of mistakes in their customer interactions. Updates to data that had been hampered by the mismatch between software systems became easier.
For your enterprise, using Odoo CRM is likely to bring similar advantages and more. For example, you can integrate the CRM with email marketing. You can, therefore, make unique workflows that tie into a customer’s stage in the business relationship to send highly targeted sales emails. Executed brilliantly, this can net you much higher sales.
Using the CRM in conjunction with the eSignature module, on the other hand, lets your customers quickly and conveniently sign contracts. The result is a much quicker rate of internal process for your business.
Get A Business Edge With Odoo Business Intelligence
Business Intelligence is another area where adopting Odoo as an enterprise solution can give your business unique advantages.
Enterprises Not Using Business Intelligence Are Missing Opportunities
Around the world, commercial organizations have clambered upon the business intelligence (BI) bandwagon as it became clear that BI holds tremendous ROI. According to BetterBuys, fully 85% of business leaders surveyed were of the opinion that business intelligence would dramatically change the way commerce is conducted.
BetterBuys statistics also showed that companies that use analytics are 5 times more likely to make faster decisions. BI systems help companies discover the best business ideas and refine their business plan. In addition, 42% of companies planned to deploy mobile BI. These investments reflect the growing importance of analytics in business across all functions.
North America, Europe, and Asia are among the leaders when it comes to businesses extracting value from their business intelligence efforts.
An Economist Intelligence Unit benchmarking survey of 476 executives globally discovered that Asian enterprises were the most effective at using business intelligence in ways that increased value for the business. Among the professionals surveyed, 63% were using data to generate revenue for their businesses.
How Odoo Business Intelligence Helps Your Enterprise
Odoo Business Intelligence helps you manage the state of your business using data drawn from all your business departments.
Charts and dashboards provide timely reports and business overviews. The Business Intelligence module also includes powerful filters and data manipulation tools that let you generate insight from your data.
With the module connected to other Odoo apps, you can generate actionable business intelligence at the flick of a button.
The following table shows you how you can use the business intelligence system to enhance your organization’s performance across business functions.
Sample Odoo Business Intelligence Use Case
Track the deployment of capital across the entire organization, with metrics for return on investment in order to reduce waste
Identify your most profitable customer segments and target them in future marketing campaigns
Track productivity across different teams and identify opportunities for improvement
Analyze occurrence of manufacturing defects and come up with strategies to mitigate them
Find the optimal supplier for each component that gives high value at an affordable cost
With its powerful capabilities, it’s clear that Odoo Business Intelligence offers tremendous value.
Managing your own data and being able to generate revenue or cost savings from it makes Odoo a highly attractive business intelligence platform. In addition, since the software is Open Source, you can easily hire tech talent to develop custom code that lets you get even more from the platform.
Gain An Advantage With Odoo
With one of the most active user bases in ERP, Odoo has gained a strong leadership position in the market. Many organizations have deployed it and reported significant improvements in their business processes.
Here are some of the notable case studies of successful users around the world:
- Wireless Cables - Bluetooth tech company implemented Odoo to streamline processes and save time.
- Nordika - interior design company in Mexico used Odoo to manage its sales, inventories and other ERP processes.
- FYG Group - this vendor of industrial equipment turned to Odoo after trying SAP and finding it too rigid. Odoo gave them more flexibility.
- Alta Motors - this innovative motorcycle company used Odoo to manage its inventories and its manufacturing processes.
These and other businesses find that Odoo offers great out-of-the-box functionality as well as options for customization. By adopting Odoo for your business, you stand to benefit from the same advantages helping these businesses run more efficiently.