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In this review, I’m going to share my analysis and evaluation from my hands-on experience with Odoo. But first, if you’re just beginning your search for the best enterprise resource planning (ERP) tools, check out my picks for the best ERP software. You probably already know that Odoo is among the most popular ERP tools out there, but you need to better understand what’s good (and not so good) about it.

This in-depth Odoo review will walk you through the tool's pros and cons, features and functionality, and more to help guide you to better understand its capabilities and its suitability for your needs.

Odoo review featuring screenshot of accounting dashboard
I like how Odoo allows users to access everything they need from the tool's accounting dashboard, pictured here.

Odoo Product Overview

Odoo is a comprehensive open-source ERP and CRM software. Designed for small to large businesses, it streamlines various operational processes. Users benefit from a cohesive management system, addressing concerns like fragmented data and inefficient workflows. Among its standout features are inventory management, sales order tracking, and e-commerce integration.

Pros

  • Inventory Management: Odoo simplifies stock tracking, reducing errors and optimizing warehouse warehouse management.
  • Sales Tracking: It offers real-time sales analytics, granting businesses insights for informed decisions.
  • E-commerce Integration: Odoo effortlessly connects with online storefronts, ensuring synchronized operations.

Cons

  • Learning Curve: Odoo's extensive features can be overwhelming, especially for first-time ERP system users.
  • Customization Limitations: While versatile, Odoo might require third-party apps for specific business needs.
  • Resource Intensity: For some setups, Odoo can be resource-intensive, potentially slowing down other systems. The enterprise resource planning can be not as efficient.

Expert Opinion

In my experience comparing different open-source ERP and CRM software, Odoo holds its own in terms of functionality and interface. Its rich feature set and variety of integrations make it competitive. On the flip side, aspects like onboarding can be a tad challenging due to its vastness.

When determining its suitability, I've judged that Odoo outperforms in areas like sales tracking and e-commerce integration. However, when it comes to customization and resource efficiency, there are alternatives that might edge it out. For businesses that prioritize a cohesive management system and POS and are willing to invest time in mastering it, Odoo is an excellent choice.

Odoo: The Bottom Line

What sets Odoo apart from its peers is its ability to offer a broad range of functionalities within a single platform. This holistic approach ensures that users don't have to jump between multiple systems to manage their business. Particularly impressive is its e-commerce integration, which many ERPs lack or only offer at a rudimentary level. Its inventory management and sales tracking capabilities further distinguish it as software that understands the nuances of business applications and operations.

Odoo Deep Dive

Delve into the intricate details and functionalities of Odoo ERP, providing you with comprehensive insights into its features, strengths, and potential areas of improvement.

Product Specifications

  1. Inventory Management - Yes
  2. Sales Tracking - Yes
  3. E-commerce Integration - Yes
  4. Customer Relationship Management - Yes
  5. Human Resources Management - Yes
  6. Purchase Management - Yes
  7. Manufacturing Management - Yes
  8. Financial Accounting - Yes
  9. Marketing Automation - Yes
  10. Project Management - Yes
  11. Timesheets - Yes
  12. Point of Sale - Yes
  13. Event Management - Yes
  14. E-learning - Yes
  15. Website Builder - Yes
  16. Recruitment - Yes
  17. Expense Management - Yes
  18. Field Service Management - Yes
  19. Fleet Management - Yes
  20. Studio (Customizations) - Yes
  21. Email Marketing - Yes
  22. Appointments - Yes
  23. Maintenance - Yes
  24. Rental - Yes
  25. Subscriptions - Yes

Feature Overview

  1. Inventory Management: Odoo’s system enables precise stock tracking and optimization, giving businesses the capability to maintain optimal inventory levels.
  2. Sales Tracking: Real-time analytics in Odoo allow business owners to understand sales trends and make timely decisions.
  3. E-commerce Integration: With Odoo, businesses can flawlessly merge their online stores, maintaining a constant synchronization between inventory and sales.
  4. Customer Relationship Management (CRM): Efficiently manage leads, and opportunities, and improve customer interactions.
  5. Human Resources Management: From recruitment to retirement, Odoo software handles all HR activities, streamlining business processes and enhancing productivity.
  6. Financial Accounting: Odoo accounting software provides financial statements, asset management, and invoicing, ensuring businesses maintain fiscal health.
  7. Marketing Automation: Automate marketing campaigns, track performance, and lead generation.
  8. Project Management: Collaborate on projects, manage tasks, and keep track of deadlines seamlessly.
  9. Website Builder: Businesses can build responsive and professional websites without needing deep technical knowledge.
  10. E-learning: Create, manage, and track e-learning modules for training and educational purposes.

Standout Functionality

  • Integrated E-Commerce: Unlike many ERPs, Odoo's e-commerce platform is deeply integrated, making online business management more unified.
  • Studio (Customizations): Odoo allows users to customize the platform according to their specific needs without requiring extensive technical skills, making it user-friendly all-in-one business management software.
  • Human Resources Suite: The depth and breadth of Odoo's HR suite surpass most open-source software solutions, covering everything from recruitment to retirement.

Integrations

Odoo offers native integrations with popular payment gateways, shipping carriers, and social media platforms. Some native integrations include Stripe, FedEx, DHL, and Twitter. They provide a robust API, enabling businesses to integrate with third-party business management software and tools. Additionally, the Odoo app store offers a plethora of add-ons that can further expand its capabilities.

Odoo Pricing

Pricing varies based on the apps chosen and the number of users.

  • Free Tier: 1 app, limited to a single user, as well as Odoo Online.
  • Standard: $25.90/user/month (billed annually) – Covers all business apps and Odoo Online.
  • Custom: $37.40/user/month (billed annually) – Designed for niche requirements and larger enterprises, this tier includes all apps, Odoo Online, Odoo Studio, Multi-Company, and an External API.

For more accurate plan pricing, you can check their pricing page.

Ease of Use

Odoo offers a clean and intuitive interface. However, given the platform’s vast capabilities, some users might experience a steep learning curve. Onboarding requires a systematic approach, and while navigating within the tool and user interface is straightforward, setting it up to precisely fit a business’s needs can be intricate.

Customer Support

Odoo provides a range of customer support channels, including documentation, live chat, and webinars. Though resources are abundant, some users have reported delayed response times, especially when seeking more advanced assistance.

Odoo Use Case

Who would be a good fit for Odoo?

For businesses seeking a holistic ERP solution to manage varied operational aspects, Odoo proves invaluable. Medium to large enterprises, especially those in retail and manufacturing sectors, find Odoo’s suite particularly useful. Its integrations and comprehensive modules cater to intricate business needs.

Who would be a bad fit for Odoo?

Smaller startups or businesses that require only specific functionalities might find Odoo overwhelming. Companies lacking IT support or those unwilling to invest time in onboarding might struggle with customizing and leveraging the platform’s full potential.

Odoo FAQs

Does Odoo support multiple languages?

Yes, Odoo supports numerous languages and even allows for translations.

Is data migration possible to Odoo from other platforms?

Absolutely, Odoo provides tools and support for smooth data migrations.

Does Odoo offer mobile access?

Yes, Odoo has mobile apps for both Android and iOS platforms.

What deployment options does Odoo offer?

Odoo offers both cloud-hosted and on-premises deployment options and templates to cater to different business needs.

How customizable is Odoo for specific industry requirements?

Odoo is highly customizable and has a modular structure, allowing different-sized businesses to add or remove apps based on their specific industry requirements.

Is there a mobile application available for Odoo?

Yes, Odoo has a mobile application available for both Android and iOS platforms, enabling on-the-go access.

Alternatives to Odoo

  • ERPNext: Known for its robust manufacturing module.
  • SuiteCRM: Recognized for its outstanding customer relationship management tools.
  • Dolibarr: A simplified ERP and CRM solution provider ideal for small businesses.

Odoo Company Overview & History

Odoo, based in Belgium, is a suite of open-source business apps. Numerous companies worldwide, ranging from startups to enterprises, leverage it. Founded by Fabien Pinckaers in 2005, the company has grown exponentially. Its mission revolves around making companies a better place, one app at a time. Noteworthy milestones include reaching millions of users and expanding its app suite to cater to varied business needs.

Summary

Odoo stands as a powerful contender in the realm of CRM and open-source ERP software. Its holistic approach and vast feature set cater to diverse business needs. Whether you’re a startup or an established enterprise, the platform offers tools that can upgrade operational efficiency. I invite all readers to share their user experiences and user reviews for Odoo.

By Simon Litt

Simon Litt is the Editor of The CFO Club, where he shares his passion for all things money-related. Performing research, talking to experts, and calling on his own professional background, he'll be working hard to ensure that The CFO Club is an indispensable resource for anyone seeking to stay informed on the latest financial trends and topics in the world of tech.

Prior to editing this publication, Simon spent years working in, and running his own, investor relations agency, servicing public companies that wanted to reach and connect deeper with their shareholder base. Simon's experience includes constructing comprehensive budgets for IR activities, consulting CEOs & executive teams on best practices for the public markets, and facilitating compliant communications training.