For many years, Odoo ERP Software has been the stand-alone solution for industries. It had been the go-to system to streamline the complex operations of organizations. However, more and more businesses are prioritizing their Odoo ERP Implementation plan to get the most out of their business.
Business managers had a feeling that an introduction to Odoo ERP is the beginning of the end of all their worries. However, new technological frontiers have left business managers scratching their heads. They are now searching for ways to use Odoo ERP software in more innovative ways. It not just streamlines business operations but also throws exciting insights into various business aspects.
The New Age of ERP Software
Rapid strides in technology, especially cloud deployment, Artificial Intelligence, machine learning, and analytics, have thrown up new business opportunities. For example, it is now possible to gauge customer preferences, design personalized promotional campaigns and a lot more.
Businesses are adopting these technologies like never before, and the race to get under the skin of the customer has become intense. With Odoo ERP software in operation in many organizations, it is time that businesses innovate ERP systems and orient it to the dynamics of recent technological changes. Odoo ERP is no longer limited to just workflow guides and templates.
Here are 6 ways innovative companies are utilizing the Best Odoo ERP Software:
Automation with Artificial Intelligence
Businesses with ERP software installed in their organization are using AI for the recognition and development of automation.
While automation has always been a value proposition for businesses, identifying areas for automation and developing and integrating them within the existing structure has not always been easy. Therefore, companies need to identify the opportunities for automation within the current ERP system for successful implementation.
AI can help businesses spot opportunities where automation within an existing ERP system can enhance employee productivity and efficiency. As a result, companies are now even using ERP software in such a way that it can itself roll out automation.
Easier System Interaction
Another AI-led innovation of ERP is noticed in providing natural language interfaces to systems. This helps users interact with the system more efficiently. Thus, AI is making ERP become more user friendly and thereby improve productivity.
Voice Recognition is an offshoot of Artificial Intelligence, and it is helping companies get rid of the need to keying data. Chatbots integrated with AI can automate the process of customer interaction. It can be escalated to a human interface level wherein the presence of a live person can be felt by the customer when in reality, it’s all automated data.
Integrating data mining with Odoo ERP can yield wonderful results. Since an ERP installation houses all data about an organization, integrating data mining with the existing system can throw insightful data about everything from human resources to manufacturing and orders.
Businesses are innovating their ERP systems to derive more value from various business operations. With the help of a cloud based ERP, it is now possible to sort through a variety of business data to uncover hidden opportunities. In fact, this has given rise to a new area known as ERP analytics. This is indeed mining actionable points from the sea of business data.
Secure Digital Ledgers
The integration of Blockchain with the Odoo ERP application can give rise to wonderful results. For example, it can enable businesses to design smart contracts that can automatically record transactions, deliver proof of transactions, and connect with contractors and suppliers in a better way by enhancing the security of shared data.
Data Integration with Cloud
Since the advent of the cloud, data integration has become easy and smooth. Cloud based ERP systems can be integrated with other systems through APIs. This is breaking down data silos and making Odoo ERP systems actionable. By integrating cloud based ERP with data sources, businesses can analyze data better. Hence, data integration with cloud technology is helping companies get more out of data and ERP investment.
Internet of Things
With the help of the Internet Of Things, systems can transfer data over a network. This can take place without human intervention. Though the concept is not yet matured and depends on various factors such as the 5g network, it can have wide use, including Radio Frequency Identification, GPS, sensor technology, and many more.
Devices can be attached to equipment within an Odoo ERP software setup, which can throw up a complex set of parameters such as performance and location. This can help organizations identify issues and eliminate them. Users can also come up with critical information like unused, underutilized or unnecessary assets, whether assets require maintenance or not, for instance.
The automation of ERP processes with the help of the Internet Of Things (IoT) can keep the operations run smoothly and on time. According to a report from Global Market Insights, IoT in manufacturing alone is forecasted to exceed revenue up to $150 billion by 2024. This can also reduce human intervention and make operations and detection of errors less error-prone.
Innovation in ERP is the Way to Move Forward
There are many solutions in the market that are offering affordable Odoo ERP implementation like Bassam Infotech, which is evolving the way businesses integrate their operations with data and technology. This makes this tool available to various sizes and types of businesses to streamline their processes. While Odoo ERP software has streamlined business operations across departments, it is the implementation of innovative technologies that is helping companies realize the full potential of Odoo ERP.