Benefits of Odoo ERP for your SMEs in 2024
The start:
In an environment where technology is advancing quickly and trends are changing quickly, small and medium-sized businesses have to fight tooth and nail to survive. In addition to having trouble gaining traction in the market and embracing new technology, they usually face competition from big businesses and have limited funding.
It appears that SMEs must put in a lot of effort to overcome these obstacles and turn a profit on their enterprise. But given their financial constraints, that seems challenging. For these kinds of firms, ERP is a must since it leads to more efficient operations, more production, and more effective sales tactics.
This blog is intended for aspiring entrepreneurs who find themselves in a similar circumstance. We’ll discuss Odoo here, which is among the top ERP programs for small companies, and the reasons SMEs choose it.
Now let’s get started without further ado!
Challenges faced by SMEs
To survive and grow, small and medium-sized firms must overcome a variety of operational and business obstacles. What exactly are these obstacles, though? Let’s examine those details in more detail.
Cash Flow Management
To make sure that everything runs properly, a company needs to maintain a healthy cash flow. It becomes difficult, particularly for small and medium-sized businesses due to varying costs and income.
Supply Chain Management
Regardless of size, a strong and effective supply chain management system is essential for all businesses. Companies need a system that helps with task automation for things like inventory control and invoice production, as well as reducing employee workload.
Adoption and Integration of Technology
As a Subject Matter Expert, you may have to struggle hard to stay on top of the constantly evolving technology landscape. Upgrading continuously to the newest technology requires resources and talent that SMEs might not have.
Competition from Big Businesses
SMEs frequently face competition from larger businesses that possess superior finances, resources, tools, and brand identities.
Market Access and Expansion
One of the main issues SMEs deal with is market penetration, particularly in global markets.
Customer Acquisition and Retention
Attracting new clients is one thing, but keeping existing ones around calls for far more persistent work, improved customer support, and marketing. That takes money, resources, and tools, which is one of the reasons SMEs find it difficult to develop a devoted clientele.
Talent Acquisition and Retention
Compared to larger businesses, SMEs frequently have trouble hiring new employees. They take longer to find talent, and the available resources might not be ideal. Should they decide to leave, you will have to start the expensive recruitment process over again. Among the causes of SMEs’ propensity for outsourcing.
Why Do SMEs Select Odoo ERP?
You could be asking yourself, “Why should I choose Odoo for my SME?” now that we have a fundamental understanding of the Odoo system.
Indeed, there are a variety of open-source and commercial ERP and CRM systems on the market. Why don’t those work?
First off, the Odoo platform is a one-stop shop with a variety of features that facilitate easy team collaboration, resource management, project management, task management, and much more.
SMEs favour ERP Odoo for a number of additional reasons besides that.
Scalability and Modularity
You only pay for what you use while using Odoo software ERP. It is not required to overwhelm your system with extra features or modules. Instead, modules can be added as needed. As your company expands and you manage increasingly complicated operations, you can scale up.
Cost-effectiveness
The software license is free if you select the Odoo Community edition. All that’s left to worry about is hosting and implementation costs. On the other hand, the Odoo Enterprise edition is not free.
Odoo Standard costs $24.90 per user per month, while Odoo Custom has a starting price of $37.40 per user per month. The amount you pay will vary depending on the plan, integrations, and user count.
Flexibility and Customization
Odoo offers a great deal of customisation. Companies can customise the program to meet their own requirements, which is especially helpful for SMEs with distinctive workflows. You can create features specifically for your sector using the Odoo ERP system.
Real-Time Data and Analytics
You can obtain real-time data that supports decision-making by integrating smart data analytics. It is quite helpful for enhancing your sales and marketing campaigns.
Interface ease of use
Odoo is renowned for having an easy-to-use interface that staff can quickly become accustomed to and utilise, which cuts down on the amount of time and money needed for training. As many people prefer, the Odoo interface is now available in dark mode.
Integrated Business Process
Odoo’s integrated business solution is one of the main reasons it functions so well for small enterprises. You may use Odoo to handle all aspect of your business operations, regardless of the industry you are in. With just one system—Odoo—you can handle all of your eCommerce operations management, sales and marketing strategy development, business process optimisation, task automation, and error reduction.
Ecosystem of Apps
With thousands of community-developed apps in its app store, Odoo is regarded as one of the top online ERPs for small enterprises. This allows companies to add more functionality to their ERP system as needed.
Automation of Routine operations
By automating repetitive operations, SMEs can cut down on errors and save a significant amount of time. Even with a small workforce, you can guarantee smooth operation with automation. As an illustration, consider the following: monitoring inventory levels and restocking items before they run out of stock; creating and sharing invoices; sending push notifications; scheduling follow-up activities automatically; automating timekeeping and payroll processing; creating email marketing campaigns automatically; assigning tasks automatically when they are completed; and automatically creating reports and analysing data.
Accessibility on a worldwide and mobile scale
Because it is cloud-based, it provides accessibility on a global scale, which is advantageous for SMEs that wish to grow or operate in several locations. Additionally improving flexibility and distant access is its smartphone compatibility.
Odoo seems to be the greatest ERP for small and medium-sized businesses, with a plethora of features and benefits. It offers more flexibility, is simple to use, and boasts a flawless user interface. With a system like Odoo, you can optimise your business operations much more easily.
But selecting the correct installation partner is just as important as selecting the Odoo ERP itself.
Why Should SMEs Use JUPICAL to Implement ERP?
Jupical can be your finest option for Odoo ERP implementation. We have the knowledge and ability to provide your SME a special solution thanks to our more than ten years of experience in a wide range of industries. As an official Odoo partner, we continuously enhance and broaden our understanding of the Odoo business suite to deliver the optimal solution to you. Regardless of whether you utilise Odoo ERP for the services business or not, we can assist you with training, support, maintenance, migration, and implementation.
Conclusion
In 2024, Odoo ERP will be remembered as a model option for SMEs because of its all-inclusive, adaptable, and reasonably priced solutions. Odoo’s comprehensive approach is specifically designed to satisfy the particular needs of small and medium-sized businesses. It optimise company operations, leading to increased productivity and efficiency. SMEs may customise the system to meet their unique requirements because of its user-friendly interface and extensive range of customisation modules, which promotes growth and scalability.
Odoo’s automation features drastically cut down on manual labour, which lowers mistake rates and boosts operational effectiveness. Moreover, its open-source design and powerful community support offer ongoing enhancements and an abundance of resources, guaranteeing that SMEs have a reliable and adaptable solution.