Common Misconceptions about Odoo ERP
The introduction of an Enterprise Resource Planning (ERP) system is an important decision for any company, as it can profoundly impact existing processes and workflows. With the ERP market growing globally and in India, companies are adopting ERP to simplify their operations and increase business revenues. We expect the ERP market revenue to witness a compound annual growth rate (CAGR 2024-2028) of 12.12%, leading to a market size of USD 6.32 billion by 2028.
From a distance, ERP may seem like a big word and a difficult project to implement. But as new companies and young people show interest in building this market, the implementation of ERP has become easier. As demand increases, we aim to clear up some myths about Odoo ERP implementations now:
1. Odoo is only for larger enterprise
Myth: Odoo is only for larger enterprises.
Fact: Odoo is scalable and suitable for businesses of all sizes.
It is a widespread misconception that the ERP solution Odoo is only suitable for larger companies. This means that only they can afford the ERP system because of their size and scope of business. This naturally meant that smaller companies were afraid to adopt this new solution, so they started looking for an alternative solution.
SMEs had the myth that Odoo was not developed for their company size and needs. However, with Odoo Enterprise, implementation and customization has become easier as it caters to the needs of all types of businesses.
With the advent of cloud-based software, it is now available for all businesses. Today, ERP is considered the main solution for all with advancements in technology and affordability.
Today, E-commerce businesses, marketing agencies, small accounting firms, etc., can utilize Odoo ERP features such as CRM, POS, website builder, etc., to improve their operations and drive growth for their businesses.
2. Odoo being an open-source is not secure
Myth: Being open-source, Odoo is not secure.
Fact: Odoo’s open-source nature allows for continuous community-driven security improvements.
Businesses believe that open-source software lacks support and security. But ideally, this is a myth; nothing like that exists. Odoo, being an open-source software, offers high security. Odoo provides backup / disaster recovery options, ensuring your database remains safe. Not just that, but Odoo also encrypts customer data, making it a highly secure platform for business use. The data remains safe and there’s no chance of misuse.
The Odoo community is always there for your support. It has appointed implementation companies who can also partner with them. These companies can provide necessary support to businesses as per the standard, making Odoo a secure open-source.
3. Odoo is a single off-the-shelf dependent system
Myth: Odoo is a single off-the-shelf dependent system.
Fact: Odoo is highly customizable, offering a wide range of modules to tailor to specific business needs.
Depending on the demands of the user’s business, Odoo provides a large selection of applications.There are around 10,000independent apps. In the past, there was no such thing as an ERP installation that couldn’t be completed by an integrator or API. That has been made possible by Odoo’s ERP.
Depending on their needs, users can use the application for project management, marketing, accounting, inventory management, CRM, and so on. This flexibility enables users to buy the solution that best suits their needs rather than other cost-saving apps. Any version of these modules can be installed, depending on your preferences. Additionally, they are also customisable.
4. Odoo implementation is expensive
Myth: Odoo implementation is expensive.
Fact: Odoo offers flexible pricing options and can be cost-effective compared to traditional ERP systems.
Odoo is an open-source platform; due to which there is always initial talk that it would be for free. But it’s not! Odoo is not for free but it is affordable.The application is provided for Rs.580/ month for all the applications. Users don’t have to install different applications for different job roles.
Example: Quickbooks for Accounting, Salesforce for CRM, DocuSign for Signature, etc.. But you can have an all-in-one solution under one roof i.e. ODOO.
Implementation of ODOO is not as expensive as getting all these apps for the business. So users will just pay for their minimum amount.
5. Odoo is only an accounting software
Myth: Odoo is a software for accounting exclusively.
Fact: Odoo is an all-inclusive ERP system that handles more than just accounting.
It’s a common misconception that ERP programmes are exclusively for accounting use.Odoo ERP, on the other hand, is revolutionizing. Odoo has designed its application so that it may be used for more than simply accounting.
6. Odoo Implementation is Real and Quick
Myth: Odoo Implementation is Real and Quick.
Fact: Odoo implementation timelines vary depending on business requirements, customization, and data migration needs.
Users frequently believe that an ERP module can be implemented quickly. This isn’t always the case, though. Depending on a company’s size, scope, user base, and management objectives, Odoo offers a variety of modules. Migration from one application to another is also possible.
Numerous such elements can affect how implementation is done. The implementers may need some time to comprehend the feature’s user base and make necessary customisations. The amount of time needed to deploy an ERP might range from a few weeks to many months.
7. Odoo ERPs Automatically Improve Efficiency
Myth: Odoo ERPs Boost Productivity on Their Own.
Fact: Although Odoo offers tools for increasing productivity, their success depends on how well they are used and implemented.
Odoo ERP is a solution that includes numerous applications to assist users boost productivity at work. However, the idea that it will inevitably increase efficiency is untrue.
The tools in Odoo ERP must be implemented in accordance with the needs of the organization. With the aid of these instruments, your efficiency will rise.For instance, if your business is a hotel, you require a website that allows potential guests to book rooms. This goes beyond simply having a website.You will now require CRM and marketing technologies in order to drive prospects to your website instead of getting them to book from aggregators websites like Ixigo or Goibibo.
In this way, Odoo ERP will support you.
8. Odoo ERPs Eliminate the Need for Human Interference
Myth: Odoo ERPs Eliminate the Need for Human Interference.
Fact: Human involvement is essential for effective ERP utilization, including data input, analysis, and decision-making.
Odoo ERP is no robotic method or automatic method. Human involvement is absolutely there. Without human interference, the user scope, analytics and decisions cannot be taken accurately. It is a common myth that generally users just have to configure and sit back and relax! No, it’s not that true. You need to daily track and analyze activities to make future decisions and make customizations accordingly.
But before implementing, take care of following:
Set important parameters and KPIs: Establish clearly what you want to achieve from the ERP deployment, be it more customer happiness, increased productivity, or increased revenue. Work together with staff members and ERP partners to create key performance indicators (KPIs) that support your company’s goals.
Record the procedures for implementation: To ensure success, make sure the ERP deployment process is thoroughly documented. The effort may be spearheaded by your ERP partner, but it is crucial that all parties involved are aware of every stage of the deployment process. Throughout the process, documentation fosters consistency, efficiency, and clarity.
To reduce the risk of implementation failure due to lack of commitment, get feedback prior to ERP deployment from all user groups. This will encourage employee participation and establish a positive feedback environment.
How will Jupical help you?
With a team of experts, Jupical has implemented ERP solutions for more than ten years and has created a strategic plan to support you and your company. Jupical hopes to dispel these myths and help you comprehend the true nature of the industry. Jupical aims to demonstrate that implementing Odoo is more difficult than it first appears and requires a team to comprehend and work on.