It’s time to load up your arsenal. Why? Because it’s wartime and you’re here to win!
The COVID-19 pandemic has held the world in its vice-like grip for a considerable time now and many businesses have had to downsize or even shut down in its wake. Just when we thought it was over, we were hit by another wave.
There is no reason to despair though. With the right tools and the right guidance, you can surf through this wave and the next. In this blog, we are going to be talking about one such power tool – Odoo ERP. Odoo ERP’s capabilities and user-friendly aspects are helping businesses to manage their operations successfully despite the challenges brought by the pandemic, and you can too.
A Solution to Pressing Challenges
Finding new customers and retaining existing customers is one of the most common business challenges. According to Kauffman’s statistics, the pandemic heightened this challenge. The increasing competition did nothing to help with this.
Additionally, when the pandemic struck, companies that were not prepared to work remotely faced a huge blow because they had to shut down their offices and work remotely.
Evidently, businesses need a dedicated business management system to successfully cope with these and other challenges. Odoo ERP is a business management tool with the complete capability to manage the entire operations of a company.
Odoo ERP’s capabilities and user-friendly aspects are helping businesses manage their operations successfully despite the challenges brought by the pandemic. The Odoo platform brings efficiency and improvement to all the operating processes of the company.
Read more: 5 Salient Features Of Odoo That Makes it a Reliable ERP for Enterprises
Odoo Is a Better Tool to Invest Today to Stay Prepared For Tomorrow’s Challenges
Pre-pandemic there was a notion that employees’ productivity will be hampered if they work from home. But the pandemic taught us that when digital ways are adopted correctly, remote work can be a success. And the Odoo ERP system has been a boon in catering to these digital requirements.
Odoo ERP is considered the most advanced and easy-to-use tool in today’s tech-plenty world. With the help of Odoo ERP, companies are enjoying seamless integration, better module-to-module connectivity, and effective digital bookkeeping to name a few benefits.
Odoo ERP with its Business Intelligence increases productivity by helping to use the company’s resources effectively. By digitizing record-keeping and pen and paper approvals, for example. Let us consider some specific ways in which Odoo ERP helps businesses stay prepared for future challenges.
1. Minimum workforce
Sudden lockdown measures have forced some companies to cut down on their staff. Odoo’s modules can help your business function well even with fewer employees. Production invoicing, lead generation, and stock movement provide perfectly navigated paths for your business despite strict lockdown measures.
2. No sales due to lockdown
If you are unable to sell your products due to quarantine measures, Odoo can solve your problem. It can help you create a website for e-Commerce. It allows you to create an easy to use, elegant and attractive website. These websites can also be connected with different online payment methods that make buying a lot easier for your customers.
3. Remote management
Due to lockdown measures and transportation restrictions, most organizations have opted for remote work management. Odoo can help you manage every integral business activity from wherever you choose to work. Its efficient functionalities and Business Intelligence capabilities will allow access to your company’s database whenever and wherever you are.
Odoo ERP’s robust modules can minimize your business management costs while ensuring quality service. It offers effective management services at a reasonable price.
5. Secure business communication
Secure communication among employees, partners, and clients is essential to all businesses. Odoo Discuss is a user-friendly messaging application that enables your teams to communicate with each other simultaneously. It ensures sharing of projects and other integral documents without allowing any breach.
There is no doubt that Odoo can refresh your business considerably if implemented correctly. Given that, let us understand what are some common mistakes made in Odoo implementation. This will help you succeed in overcoming any implementation challenges.
Read more: 5 Signs That Imply Your Business Needs Odoo ERP
Common Mistakes Made in Odoo Implementation
Admittedly, implementing Odoo ERP is a huge change for an organization. It can be daunting for a business as it involves multiple considerations. If the implementation is not carried out properly, it can paralyze the entire organization. That is why it is important to choose the right implementation partner. Here are some common implementation mistakes:
- Lack of strategic management planning: A clear strategic roadmap and goal will help identify all the requirements from the ERP implementation. Not having a clear goal implies money-related disadvantages and unorganized due dates leading to chaos.
- Over customization: Over-customization can cause Odoo performance issues.
- Lack of experienced project managers: Hiring project managers that do not have in-depth expertise and lack adequate experience is another mistake that can lead to performance issues.
- Not testing the framework: Due to a lack of time, some organizations decrease the number and profundity of test cycles. Eliminating some tests may leave defects undiscovered and miss important functions as well.
- Lack of sufficient training: Some organizations rush to use the product without sufficient training. Training at the right time is as important as doing it in the right way.
Why Do You Need an Odoo Partner?
Expertise is the primary reason. A good Odoo partner will have the expertise, experience, and knowledge that you need for a successful implementation. They will help you avoid the pitfalls of implementation and execution and can guide you through the nuances of the platform. With techno-functional consultants on board, they will be more successful in identifying complex issues and locating the right business procedures than you will be if you try to do this on your own.
Read more: Why Choose Fingent as your Odoo Partner
Tips To Get The Right Odoo Partner
Here is a checklist that makes your quest for the right Odoo partner easy:
- Experience: Experience in different industries and services helps your partner identify problems quickly and deliver highly customized solutions that newbies cannot. Such experience will also aid them in spotting trends and keeping the system up to date.
- Availability: During the development phase, there is a chance that the software might develop many issues. If the partner is available 24/7, they can address any glitches and prevent significant revenue loss
- Pre and post-service support: Pre and post-implementation training is a must for organizations that have never used Odoo ERP before.
- Access: Ready access to the software developer when you need them makes software modification a swift ride and you can rest assured that you will get exactly what you need.
How Fingent Fits the Bill
Fingent is an official Odoo Partner and has helped many clients successfully implement and execute Odoo’s dynamic features in their business. We have a team of talented, professional Odoo experts with techno-functional knowledge. The presence of certified and senior developers will help in strengthening your business.
Our developers help you access and customize Odoo’s powerful features and build custom applications for your business that will give you an edge over the competition. With rich experience in implementing Odoo ERP for different industries and working with its different modules, you can rest assured that we have the technical know-how and the business experience to do it right for you.
Connect with us now!
Enterprise Resource Planning (ERP) software helps keep track of your product, sales, marketing, and other metrics and boosts organizational efficiency. However, finding the right one for your business can be a daunting task. While some are better suited for small companies or large companies, others may not even offer the services you are looking for. In this post, we compare two big-name ERPs- Odoo and Sage so you can decide which one is best suited for your business.
All About Sage?
Sage is one of the leading vendors of ERP software with clients across 160 countries. It offers solutions in Accounting, Human Resource Management, and Payments and Payroll. Its solutions include Sage 100, Sage 300, Sage X3, and Sage Intacct.
Sage’s top features include;
- Sage X3 offers a sales, purchasing, inventory, CRM, finance, and manufacturing module
- Sage 300 offers sales order management, finance, and inventory tools and integrated payments.
- Sage Intacct offers six modules such as billing, core financial, dashboard, and reporting, budgeting and planning, and platform to choose from. The sixth module is advanced functionality that you need to discuss with a representative.
- For business insights, paperless card processing, CRM, budgeting, and planning, opt for Sage 100 Essentials. It also offers several add-ons and third-party apps.
Who can use Sage?
Sage offers different programs depending on your business needs.
- Sage 100 can be used by small to medium-sized businesses.
- Medium to large businesses such as process manufacturing, food, and beverage industries can use Sage X3.
- Sage Intacct can be used by companies of all sizes especially healthcare, entertainment, non-profits, and more.
Sage offers customized pricing based on your specific business needs and so is subscription-based.
Challenges associated with Sage
While Sage 100 and 300 are not cloud services, Sage X3 and Sage Intacct both offer cloud services. However, Sage X3 uses on-premise hosting while Sage Intacct is browser-based. For Sage 100 and 300 cloud integration is available through Sage Partner Cloud.
All About Odoo?
Odoo is a popular open-source ERP that boasts over seven million users. It is a newer ERP software system that is freely available for the management of business processes. Odoo is available in two versions- the Odoo community edition that has limited features and the ability to customize. The other one is the Odoo Enterprise which comes packed with features and customization ability.
Top Features of Odoo are;
- Point of Sale (POS)
- Sales Management
- Warehouse Management
- Purchase Management
- Project Management
The cost of Odoo depends on the number of users and the apps selected for your business requirements. Also, it is available with SaaS subscription pricing as the Enterprise edition or as the Odoo free Community version. While the Odoo community edition is free of charge, the Odoo Enterprise edition has a license fee.
Who can use Odoo?
Every company, small or big can leverage Odoo as you can choose among its 20 main modules to suit your business needs. It also allows you to add modules as your company and requirements grow. That said, there is no minimum number of users for the cloud base and can be used by both freelancers and solo operators easily.
The main highlight of Odoo is that it does not specialize in any particular industry. So, any company regardless of the industry can use Odoo for their management needs.
Challenges with Odoo ERP Implementation
- You may need to revamp your server and workstation to make sure they are compatible with the Odoo ERP app.
- Another big challenge is that the information formed through the traditional framework may not be compatible with the new Odoo ERP. However, this struggle can be prevented by careful project planning.
- With Odoo, there could be major changes in the business directs, models, and practices. The data entered by a user can be accessed by others in real-time.
- For successful Odoo implementation, you may have to implement new administrative practices and standards or update existing practices.
Which is Better: Sage or Odoo?
As mentioned above, Sage offers an impressive number of products but it is difficult to choose the right one for your needs. Also, as the pricing is quote-based, it becomes difficult to know how much you’ll be paying. That said, Sage is optimized for specific industries such as real estate and construction.
Odoo, on the other hand, is a great option for users looking to personalize the software themselves and want a more hands-on experience.
Traditional practices are becoming obsolete as newer and more powerful solutions become available. So, selecting an adaptable software solution that can help in the long-term development and growth of your business is crucial.
If you’re looking to find the right ERP for your business or need help with optimization, we’re here to help. We provide the best ERP implementation services to improve your business efficiency. Connect with our experts today!
A study by Havard Business Review reveals that one in every six projects costs over 200% of the estimated amount, and 70% of IT projects face delays. Despite the availability of flexible methodologies and multiple resources, companies are still struggling and wasting a lot of money every year to handle project management challenges.
While it is the project manager’s responsibility to ensure smooth working of all the processes, they are always loaded with tons of duties such as budgets, allocating resources, scheduling tasks, and more. Moreover, if there are several projects running, it can become overwhelming for the project manager to personally look into every collaboration happening in the business. This blog will take you through the major challenges faced in project management and how deploying Odoo technology can help you tackle these challenges and elevate your performance.
Challenges faced by the project managers
1. Lack of communication
According to Deloitte, 32% of professionals believe that communication is the biggest issue of project management. A transparent method of communication will help build credibility amongst your stakeholders and involve them in the process. Miscommunication can affect teamwork and even cause conflicts among team members, causing a delay in the project. To avoid these pitfalls, project managers can rely on collaborative and project management software available in the market.
2. Budgeting issues
Financial issues are one of the biggest hurdles of effective project management. Managers can avoid complications a project may likely face by efficient cost management and achieving quicker results.
3. Lack of clarity on goals and success
According to a study, 39% of projects fail due to a lack of project planning and defined goals. Hence, It is vital to set clear goals for the success of any project. Additionally, a project manager needs to set up milestones and quality tests to quantify the progress of a project. A predefined set of objectives and goals will help project managers defend their vision before the upper management and customers.
4. Scope creep
Scope creep, also known as requirement creep or even feature creep, refers to how a project’s requirements increase over a project’s life cycle. While scope creep can be beneficial in some cases, it can also have a negative impact on your business. Clients who have vague requirements and don’t know what exactly they want can be challenging for both managers and the project team.
5. Inadequate risk management
Typically, projects have several variables that create many possibilities and rarely go exactly the way it was planned. Not having the foresight to identify any critical situations or making up contingency plans can be a significant setback for any project. All these challenges demand the interplay of intuitive project management software to ensure real-time tracking and organizing of projects. Over 90% of high-performing companies are switching to project management applications to complete their projects professionally. Project management software helps automate time-consuming tasks and manage a large team of professionals working within. Additionally, the software can also help businesses put data straight and accomplish remarkable results without any delays.
Though you can find wide choices of project management tools in the market, you will have to pick the application that suits your business workflow. Make sure that the chosen project management software for your business includes the following features.
- Project Planning and Scheduling
- Project Budgeting
- Team Collaboration
- Time Tracking
While the project management tool may offer several other features too, the above said are essential for any project management. A perfect solution to all project management-related problems is Odoo. Whether you want to add tasks/subtasks under a project or assign tasks to your team members, Odoo helps you achieve it seamlessly.
Benefits of Odoo’s Project Management Module
1. Mobile friendly
Odoo can be installed on a mobile phone, making it easy to use while on the go. Given the pandemic situation, this feature is a boon. It allows team members and the managers to remain connected and track the projects from anywhere. That said, the Odoo project module allows you to get a large screen view along with a chatter facility using computers.
Odoo allows you to customize your projects easily. From renaming projects to rescheduling stages, the Odoo module enables you to achieve it hassle-free. Additionally, its Filters and Groups features help you track the projects and tasks.
Odoo is highly user-friendly and provides a Kanban view to have a quick glance at the projects based on the tasks and stages. For example, to check the time and deadline, you can use the Gantt Chart, Graphic, and Pivot view.
4. Enhanced communication support
With Odoo, you can integrate email and use your email alias. This feature allows managers or customers to automatically create a task by simply sending emails to the specified alias. All those who receive the communication will become a part of the task. Additionally, it supports sending alerts to customers based on the activities. Odoo project also allows you to chat with the team members by just clicking on the team member’s image. It not only saves time but helps collect in real-time.
5. Improved customer management
Odoo project module helps you generate customer tickets which allows you to track the progress of the project and interact with the project team.
6. Report generation
Odoo generates reports in an easy-to-grasp format. Options such as Filters, Measures, and Group-by help the team to manage the reports.
7. Easy integration with other modules
The project module integrates easily with other modules such as Calendar, Timesheet, Accounting, Expenses, etc. It helps you to manage accounts, plan expenses, track working hours, and plan activities.
How can Fingent help?
Undeniably, the Odoo Project Management module is a must-have solution for all businesses. We help businesses achieve their strategic goals and drive better revenue with our ERP development services. We have expertise in developing user-friendly applications for businesses across various industries.
If you’re looking to reduce your business complexities and drive growth with Odoo implementation, contact us.
Unlock the value of data analytics and business intelligence with Odoo ERP
From cloud computing to the Internet of Things, the fourth industrial revolution has brought about remarkable technological reforms in most business strategies across industries. Today, businesses strive to face competition with advanced software tools and cutting-edge technologies. Organizations are implementing data-driven methods to improve their product and service offerings and add value to their customers. Techniques like Business Intelligence and Data Analytics help companies survive the cut-throat competition, accelerate speed-to-market, retain customers, and innovate. Data analytics and BI unlock the door to several opportunities, enabling companies to expand, grow and stay relevant in the ever-changing technology landscape.
However, implementing Data Analytics and Business Intelligence features in your existing business model requires careful planning. Intelligent, digital core ERPs like Odoo have come up with specific tools and modules to simplify the entire implementation process and help businesses gain value.
Let’s cut to the chase first. Before we see Odoo’s tailored BI and Analytics offerings, it would be good to get the basics right.
What is the difference between Business Intelligence and Data Analytics?
- Business Intelligence refers to the information required to augment business decision-making activities, while data analytics refers to changing the raw data into a meaningful format.
- Primarily, BI supports decision-making and helps companies grow. On the other hand, data analytics helps build a model, cleanse, predict and modify data based on business needs.
- Business Intelligence can be implemented using various BI tools. However, BI implementation is done only on historical data stored in data warehouses or data marts. Data analytics can be implemented using BI tools. However, the implementation will depend on the strategy designed by the organization.
- BI can be debugged only through the historical data supplied, while data analytics can be debugged through the proposed model to convert the data into a meaningful format.
A brief overview of Odoo ERP
At Fingent, we specialize in custom Odoo ERP implementation, Odoo ERP integration, Odoo ERP migration, upgrade, maintenance, and support. We help you tailor Odoo ERP features to match your specific business requirements. Odoo ERP customization helps enterprises solve complex business challenges, streamline operations and boost overall productivity. When you have all the required business data in one place, with personalized dashboards offering helpful insights, your decision-making and business strategy formulation become seamless. Being an Official Partner of Odoo, Fingent makes it a cakewalk for you.
Read more: Why Choose Fingent as Your Odoo ERP Partner
With its vast suite comprising over 40 business productivity applications, Odoo provides a smoother and simpler way to run your business. The range of business apps offered by Odoo is highly comprehensive, fully integrated, easy to use, and supports numerous different industries.
Odoo offers over ten dedicated modules to effectively handle diverse business processes such as HRM, finance, CRM, manufacturing, accounting, inventory, and eCommerce. The most significant advantage of Odoo ERP is that you get a free and open-source community version under a general public license. This reduces the overall project cost significantly and so is exceptionally suited for small-to-medium enterprises.
Odoo ERP: Business Intelligence and Data Analytics
Odoo ERP includes a comprehensive data visualization and analysis software interface that helps companies capitalize on their data sources. It has an in-depth dashboard interface and powerful Business Intelligence capabilities for data mining and secret meaning extraction.
Here the top five BI and Data Analytics features offered by Odoo ERP:
1. Integrated spreadsheets
Introduced by Odoo 14, this feature has been included to preserve the ease and comfort of users working in excel spreadsheets. Previously, users had to download the pivot view of every report initially for editing the excel spreadsheet.
This feature makes it easier to bind and store excel sheets in the ERP itself. While the integrated spreadsheets make it easy to review reports quickly, its dashboard pivot table link helps access live data.
Users can perform all possible acts and input formulas, add and delete columns, apply formatting, and do more like ordinary excel sheets.
2. Sales analysis
Odoo ERP offers an intuitive dashboard GUI that helps monitor sales data and keep sales records for future reference. To retrieve relevant data, all you need to do is apply different filters or divide it into various segments for easy access. You can use bar graphs, pie charts, and line graph analysis to get an organized view of your sales data.
Analyzing sales data helps you gain insights into the purchasing habits of your customers. Additionally, it allows you to refine the sales tactics to reach out and drive them down the sales funnel to the target audience.
3. Employee performance tracking
The Odoo dashboards, along with your sales team’s performance, allow you to assess your CRM efforts quickly. This, combined with efficient resource utilization and task scheduling, can help you take adequate steps to improve your sales strategy.
4. Inventory analysis
The Odoo inventory module provides a comprehensive view of the inventory. It is equipped with all the important Business Intelligence tools and analytics features. This feature provides you with reports and insights into the inventory and warehouse data in real-time. Odoo inventory module enables you to monitor your stock movements, stock receipts, average delivery time, turnover of inventory, and valuation.
5. Lead nurturing
The Odoo CRM supports an exceptional and descriptive graphical view for monitoring and evaluating your lead data. You can then group your leads based on factors such as gender, age, location, business type, and several other segments. To retrieve the lead data easily, you can apply filters and set time ranges to compare the new leads with your old leads. Moreover, this enhances your CRM efforts and helps build a stronger relationship with your customers.
Become a data powerhouse
There’s no denying that BI and data analytics are helping businesses stay relevant and stay ahead of the competition by improving decision-making. BI tools help you analyze your customers’ preferences and buying habits. Powerful BI and analytics features offered by Odoo ERP help refine your marketing strategies at regular intervals.
Fingent provides end-to-end Odoo ERP consulting and implementation services for businesses across different industries, enabling them to resolve complex business problems. We have the expertise to formulate strategies through Odoo ERP solutions to achieve optimal results.
If you have overwhelming volumes of business data that you want to explore and exploit with advanced BI and data analytics tools, we’re here to help you with the same. Give us a call and discover the best plans to make your business truly data-driven.
The Significance of Odoo Migration and How to Do It?
Odoo is an open-source ERP software that comprises an integrated suite of business modules such as eCommerce, accounting, warehouse management, project management, financial management, customer relationship management (CRM), manufacturing, and purchasing. These modules ensure seamless and efficient communication with each other to exchange information.
Odoo ERP can be used by businesses of all sizes and is available in both cloud or on-premise versions. Odoo is open source and highly customizable, allowing developers to access the code and make changes in the module based on their business needs. Odoo ERP can be easily integrated with payment processors and external shipping systems such as UPS, eBay, FedEx, Amazon, and QuickBooks.
So, if you are new and planning to implement Odoo ERP for your business, you should consider the most recent and latest version of Odoo, that is, Odoo 14.0.
However, if you are already leveraging Odoo and thinking of migrating to Odoo 14, you need to assimilate the situation before migrating.
Odoo migration involves two parts:
- Data migration
- Odoo apps migration
You can migrate both your company data and the apps used in the older version of your ERP. This migration process requires expertise and an experienced Odoo ERP partner to achieve it. Your older data must be optimized for the newer version smoothly and is best done by a professional Odoo ERP implementation partner like Fingent.
Why migrate to the latest version of Odoo ERP?
Undeniably, the latest versions of Odoo include improved features such as security, speed, and stability. Migrating to the latest version indicates that you are ready to update your system and move forward. Moving forward does not mean that you lose your old data and turn to new data. Migration ensures that all the previous data is kept intact while stepping into the new one.
The latest version, Odoo 14 got released in October 2020. As businesses are ever-changing, the new version comes with many added or deleted features as found optimal by Odoo. This is needed to ensure the ERP keeps running at its best performance and also delivers high performance. It is considered to be four times faster than Odoo 13. So, if you are looking for speed, then you can switch to Odoo 14.
Top features of Odoo 14
Some of the features of Odoo 14 are:
1. Improved user experience
Odoo is a great competitor to big names like Oracle, Dynamics, and SAP. Odoo 14 has added more shortcut keys to control the system faster, improving the system speed and more on-click features to help you save time. There are more widgets in the list view that allows you to send messages directly to your colleagues within a single click.
2. Automated CRM
CRM is a powerful tool that provides your company with a better insight and focuses more on clients and not on the data input. The insight helps you forecast sales or find information about the clients easily. In the absence of a CRM, the salespeople can randomly fill the customer’s information, making it difficult for other team members to follow up or get complete sales information.
As Odoo 14 CRM is automated, you can add and search for customer’s data accurately and quickly.
3. Outlook plugins
This feature automates the communication logging and allows you to communicate with the clients automatically in the CRM. It also helps sales managers track the communication of their subordinates.
4. To-do activities list
Odoo 14 helps salespeople focus on selling instead of data input. The to-do activities feature allows the salespeople to quickly check the to-do list, the next activity, and its priority with its impact every day. This feature comes with an improved follow-up section that helps salespeople send an email or SMS to the potential client directly from the CRM.
Points to consider before Odoo migration
Odoo 14 is designed to deliver more both in terms of performance and features. It includes additional features that can benefit new businesses. The new features ensure the business processes are carried out as smoothly as possible. However, you must make sure to understand the purposes and needs of your business before you avail of the updated version.
2. Deleting a few features
While the new version includes new features, some of the old features have been revoked by Odoo. So, it would help if you had an idea about what features will be lost in the newer update. This is where an Odoo ERP implementation partner like Fingent can help you. Our Odoo consultants can help you migrate to the latest version of Odoo without losing your crucial company data.
An update would mean that your business operations would be affected in the meantime. So, you must be prepared to overcome this downtime if you opt for migration. You can use the pilot version to run the platform with updates in the background. However, it is not possible in the live environment. You can discuss this in detail with the migration expert at Fingent.
The cost of the migration process may vary depending on your customized business requirements. Understanding the need for the latest update and knowing if the expense is the right investment for your company is essential. You can consult the experts at Fingent to get an estimate of the Odoo migration expenses for your business.
While migrating your old Odoo versions to newer and better ones is essential, it is a complex and tedious task. So, it is vital to have a good Odoo migration partner, which is why most businesses entrust us with Odoo ERP migration.
Read more: Why Choose Fingent as Your Odoo ERP Partner
Odoo migration: How to migrate to the newer version?
The Odoo migration process is done in two parts:
Part 1: Data migration
The company data present in the Odoo platform is of utmost importance and cannot be lost under any circumstances. This data requires some adaptation to work in sync with the new version. To make sure your data is suited for migration formulation, your information, such as charts, tables, contacts, etc., will be carried out.
Part 2: Odoo apps migration
The Odoo apps functional in the older version are used for specific needs and cannot be lost or compromised in the process of updating. Necessary changes to the existing applications or developing new ones will need to be done to meet the needs of your business.
The migration of applications and data will enhance the platform’s functionality without losing your company data.
To know more about Odoo migration and how we can help achieve it successfully, please contact us.