What is Odoo ERP Software? - A Complete Guide

ERP software, including Odoo ERP, is essential for business management because it unifies what would otherwise be siloed systems requiring duplicate manual data entry into a single database. 

ERP software is designed with core accounting software and optional modules for business process functionality throughout your organization. With an ERP system, role-authorized team members and management can view the same data with real-time dashboards. 

What is Odoo ERP?

Odoo ERP is an open-source enterprise resource planning system, consisting of apps with a wide range of business process functionality. Odoo is a Belgian company with 12 million software users that also offers a free Odoo Community version. 

Which Types of Businesses Use Odoo?

Businesses in all industries and size ranges use Odoo ERP software and its CRM, although most of its software user customers are small and mid-sized companies. The Odoo customer base is worldwide, with most users based in the United States and Europe. 

Which Industries are Best Suited to Odoo ERP?

Although Odoo serves a wide range of industries, including manufacturing, construction, healthcare businesses, and nonprofit organizations, the Odoo ERP system is used widely by IT services, software companies, and eCommerce companies. 

Odoo Pricing

Odoo pricing includes standard Odoo SaaS pricing plans or using the free Odoo Community open-source version, implementation services, additional hosting costs for Odoo.sh, if applicable, and costs for third-party add-on apps, including AP automation. 

Odoo Pricing Plans

Odoo’s three pricing plans are:

• One App Free 
  • US$0, only one app with unlimited users, with Odoo Online deployment
• Standard
  •  US$31.10 per user per month, all apps, with Odoo Online deployment
• Custom
  • US$46.70 per user per month, all apps with a choice of deployment using Odoo Online, Odoo.sh (Platform as a Service, PaaS, with additional hosting cost), or On-premise

Odoo may offer 12-month discounts from these standard SaaS pricing rates for the initial users ordered. 

Free Odoo Community Open Source Software

The free Community open source option for Odoo is available through GitHub and Odoo.com. With this free Odoo Community version, you can integrate some free apps and add-on third-party apps for an additional cost.

Implementation Services for Odoo ERP

Odoo recommends using software implementation services with different cost levels depending on your company's size and needs. For small businesses with under 50 employees, Odoo recommends using its Success Packs, which help them achieve a 98% implementation success rate. For companies with more than 50 employees (mid-size and large), Odoo recommends that they work with an Odoo partner providing implementation services. 

Odoo Core Features

Odoo ERP modules and the Odoo CRM module core features include:

• Accounting, Invoicing, Expenses, and Dashboard
• Documents, Sign, and Studio tools
• Purchasing, Inventory, and Manufacturing
• CRM, Sales, eCommerce, Point of Sale, Subscriptions, Rental, and Helpdesk
• Project, Scheduling, Plan, Timesheet, and Field Service Management
• HR and Discuss for collaboration
• Website, Social Marketing, Email Marketing, and Knowledge

Accounting, Invoicing, Expenses, and Dashboard

Odoo Accounting lets your company record transactions in subsidiary ledgers and the general ledger and prepare financial statements with different worldwide pre-configured country requirements. The Invoicing module lets you prepare customer invoices for billing, including recurring invoices. Odoo Expenses is for processing employee expense reports for reimbursement, which are submitted using mobile phone receipt photos. A real-time dashboard lets you manage company results in real-time. 

Documents and Tools

Some Odoo modules are for documents and tools, including a centralized documents repository, document signing software, and Studio tools for simple drag-and-drop, no-code, Odoo app customization. 

Purchasing, Inventory, and Manufacturing

The Odoo Purchasing module lets you prepare alternate RFQs to obtain competitive bids in the procurement process, prepare purchase orders and purchase agreements, including blanket POs, receive goods, and create vendor bills integrated with the Accounting module for payment status. It also lets you create custom rules and replenishment methods. 

The Odoo Inventory module works with the Purchasing module for doing stock replenishments and tracking inventory by location. Real-time warehouse management includes serial numbers, lots, packaging, cycle counting, and KPIs. 

Within the Odoo Manufacturing category of unified modules, manufacturers get MRP (material requirements planning), MES (manufacturing execution system), PLM (product lifecycle management), Quality, Shop Floor, and Maintenance functionality. Manufacturers may also be interested in using manufacturing OCR software from Nanonets. 

CRM, Sales-Related Apps, and Helpdesk

Odoo provides a CRM module for tracking leads and customer interactions. Its other modules include eCommerce, Point of Sale for physical stores, Subscription management software, Rentals tracking software,  and Helpdesk software. 

Project, Scheduling, Plan, Timesheet, and Field Service Management

Odoo provides modules for project management productivity, including employee scheduling and timesheets for hours worked by employees on projects. Odoo also offers a Field Service Management module for tracking work on field service projects and integration for invoicing customers for field service. 

HR and Discuss 

Odoo has a human resources (HR) module and a Discuss module used for communications and collaboration. 

Website, Social Marketing, Email Marketing, and Knowledge

Odoo users have access to modules for building a website, social marketing, and email marketing. The Odoo Knowledge module centralizes educational resources for employees and customers by topic. 

How to Integrate AP Software with Odoo ERP

For how to Integrate third-party AP automation software using accounts payable best practices with Odoo ERP, choose one of three methods for each software app:

1. Odoo API
2. Odoo connectors
3. Using custom software code

Odoo's external API (application programming interface) lets your company integrate third-party apps and tools with Odoo. The API method and related data access are only available with Odoo’s Custom pricing plan. 

Contact Nanonets to integrate your Odoo ERP with Flow by Nanonets for AP automation and invoice processing with global payments and AI-powered total expense management. 

Best Odoo Integrations

Third-party Odoo ERP integrations are available either from the software provider or through the Odoo Apps store. The Odoo Apps Store includes connector apps for some popular software including QuickBooks, Magento (Adobe Commerce), and Salesforce CRM for Odoo integration. 

Before purchasing a third-party app, check to see for which Odoo deployments these connectors are intended. Some will function only with Odoo.sh and On Premise deployments, not Odoo Online. 

QuickBooks

Odoo integrates with QuickBooks Online or QuickBooks Desktop using the Odoo Quickbooks Online Connector or Odoo Quickbooks Desktop Connector. With QuickBooks integration, your data will sync with QuickBooks or export to QuickBooks. 

Adobe Commerce (formerly Magento)

Although Magento was acquired by Adobe and rebranded as Adobe Commerce, the Odoo Apps store still lists third-party Magento connectors rather than Adobe Commerce connectors. With a  Magento connector, your business can sync data between Odoo and your company’s eCommerce store. 

Salesforce

Although Odoo has its own CRM app for customer relationship management, Odoo also integrates with market-leading CRM software from Salesforce. The Odoo Apps store includes a choice of third-party Salesforce Connector apps. 

Conclusion

Odoo users can complete a large range of unified business processes with Odoo ERP and choose to use either Odoo CRM or Salesforce. Third-party add-on software adds value to Odoo ERP by increasing the functionality not included by Odoo in its ERP modules and syncing data between applications. 

When you choose a third-party software integration, evaluate the software provider's financial strength as a source of stability for your software solution. Financial strength will also enable the third-party software provider to introduce product innovations that will increase the usefulness and capabilities of its software. Nanonets is a well-financed, venture-backed company with financing provided by renowned investors. 

Nanonets AP automation software with accurate OCR can be integrated with any ERP system or accounting software, including Odoo ERP, and with any application. Contact Nanonets to request a demo and get details on how to integrate Flow by Nanonets with your Odoo ERP system.

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