Odoo: The Best ERP Solution for Your Business

This presentation explores the process of selecting an ERP system for a business. It begins by defining ERP and outlining its key features. The presentation then delves into the business requirements and challenges associated with implementing an ERP system. A comprehensive analysis of the ERP marketplace is conducted, examining various vendors and their offerings. The presentation narrows down the potential ERP options to three, ultimately selecting Odoo as the best choice. The justification for this selection is based on Odoo's comprehensive features, including website edition, material requirements planning, inventory management, point of sale, accounting, e-commerce, customer relationship management (CRM), eSignature, automated stock update, sales management, project management, automated calendar, leave management, reporting, customer support, efficient integrations, timesheets, and automated invoicing. The presentation concludes by highlighting the benefits of Odoo and its suitability for businesses of all sizes.

Introduction
In this presentation we will
understand the ERP system,
business requirements and
challenges. After this marketplace
for potential vendors or ERPs will
be explored and from 6 potential
ERPs we have come down to 3 and
then to one. For the chosen one
potential ERP we have provided
justification in forms of features.

ERP (Enterprise
Resource Planning)

ERP Continued…
• ERP software integrates the following facets of operation-
product planning, development, manufacturing, marketing
and sales in a single application, database and user interface.
• It is computer-based technology which includes all the data
across the organization and impose standardized procedures
on the data dissemination, use and input (Wailgum & Perkins,
2018).

Business Requirements

Business Requirements Continued…
ERP system needs are:
• It must be united with interfaces and applications
• Easy integration, customization and scalability of additional
modules as required.
• Workflow management where data actions and update
• Report generation available in either data –editing or dashboard
form.
• Communication in ERP system (SelectHub, 2015).

Business Challenges
• The Selection Problem
Problem lies with launching a
managerial information
system implementation
project.
• Technical Issues
Problem is with getting the
whole system which is
hardware, users, server and
software bringing and working
together any value back to the
company.

Business Challenges
Continued…
• Data Quality Issues
It is symptomatic particularly to companies which are
implementing ERP for transferring their legacy data to the new
system.
• Business philosophy changes
ERP execution brings substantial changes to the conventional
business model along with the day-to-day practices.
• “Mindshift” issues
The user who earlier were processed to work on a single system
are likely to find difficulty in switching to the new method
(Osintev, 2016).

Marketplace for Potential ERPs
ERP industry is rapidly evolving and has properly differentiated
among small, medium and large business sectors.
ERP vendors are classified on the basis of the clients they service,
these are:
• Tier I
This type of vendor sells comprehensively to the Tier I market.

Marketplace for Potential ERPs
Continued…
• Tier II
The type II vendors trade ERP products which suites medium
sized companies having $50 million to $1 million range.
• Tier III
The Tier III solution providers aim those companies which have
revenues in between range of $10 million to $50 million
(Enterpriseinnovation, 2018).

Potential Vendors and ERPs
• SAP
It is basically an undisputed market leader handling enormously
complex business situations. It is known to be number 1 in the space of
Tier I.
• Oracle
It is known mainly for its relational database and is established well in
Tier I market.
• Microsoft
It is focused on clients in Tier II and provide with various solution to
different business domains.

Potential Vendors and ERPs Continued…
• Sage
It has expanded significantly to include with the grater scope of
both general business management and accounting features.
• Odoo
The online cloud-based edition of ERP Odoo proffers with
customized solution designed to specifically solve SME needs.
• Lawson
It caters itself to many verticals and its key focus area for market
is greatly acknowledged for its complexity.

Best three potential ERPs
1. SAP
SAP full form is Software
Applications and Products in data
processing. It developed its ERP
product named R/3 which
integrated many applications and
shared a solitary database
(Guru99, 2018).

Best three potential ERPs Continued…
2. SAGE
It helps with managing
service, marketing and sales
as well as asset
management, inventory,
people, manufacturing,
payroll, accounting and
distribution (Sage, 2018).

Best three potential ERPs Continued…
3. Odoo
It is known as
comprehensive suite
comprising of sales, project
management,
manufacturing, human
resources, warehouse
management, financial
management and CRM. It is
best suited for mid-sized to
small companies and on-
site or cloud (B2B directory,
2018).

The Best potential ERP
Odoo
It is a software platform
which covers all kinds of
operations of business from
omnichannel sales, project
management, inventory
control, HR and CRM. The
supported devices are Mac,
Android, Windows, iPhone/
iPad and Web-based.

Features of Odoo
• Website edition
• Material requirements planning
• Inventory management
• Point of sale
• Accounting
• E-commerce
• Customer relationship
management (CRM)
• eSignature
• Automated stock update

Features of Odoo Continued…
• Sales management
• Project management
• Automated calendar
• Leave management
• Reporting
• Customer support
• Efficient integrations
• Timesheets
• Automated invoicing (B2B directory, 2018).

References
• Wailgum, T & Perkins, B 2018, What is ERP? A guide to enterprise
resource planning systems, viewed 9 May 2018,
https://www.cio.com/article/2439502/enterprise-resource-planning/e
nterprise-resource-planning-erp-definition-and-solutions.html
• Osintev, A 2016, The 5 Biggest Challenges When Implementing ERP for
the First Time, viewed 9 May 2018,
https://www3.technologyevaluation.com/research/article/the-5-
biggest-challenges-when-implementing-erp-for-the-first-time.html
• SelectHub, 2015, Key ERP Functional Requirements, viewed 9 May
2018, https://selecthub.com/enterprise-resource-planning/key-erp-
functional-requirements/
• Enterpriseinnovation, 2018, Top 10 Enterprise Resource Planning (ERP)
Vendors, viewed 9 May 2018,
https://www.enterpriseinnovation.net/files/whitepapers/top_10_erp_
vendors.pdf

References
• Guru99, 2018, What is SAP? Definition of SAP ERP Software,
viewed 9 May 2018, https://www.guru99.com/what-is-sap-
definition-of-sap-erp-software.html
• Sage, 2018, Enterprise resource planning software for
managing your business, viewed 9 May 2018,
https://www.sage.com/ca/erp
• B2B directory, 2018, Odoo Review, viewed 9 May 2018,
https://reviews.financesonline.com/p/odoo/