The use of business management tools, software, and solutions is the need of the hour for all
businesses today. Due to the soaring competition and rapidly evolving technology, it has become
imperative for businesses to bring in a specialized business management system in their companies
for increasing efficiency and productivity. It is vital that new systems offer comprehensive services
that can lead to easy management of operational needs. This has led to the growth and needs for
ERP solutions.

It might interest you to know that the global ERP software market is already more than USD 54.76
billion, as of 2022. The same is expected to grow at a CAGR of 11% from 2023 to 2030. Enterprise
resource planning allows companies to manage their core functions under a centralized integrated
system. They can keep a track of their manufacturing products, distribution, and more. Used by a
range of different industries such as healthcare, construction, hospitality, and more, ERP helps them
manage their staff, clients, stocks, database, different departments, etc.

Enterprise resource planning software can manage a plethora of business functions, but how Is Odoo ERP development solution better than the rest? Let us know

Odoo 16

The release of Odoo 16, the fastest and the most intuitive version ever, has come with improved
features. Now the clients have access to increased business intelligence, a new reporting style, a
front-end website app, and much better performance. The solution aims to help you control,
collaborate, communicate, and share knowledge with your organization.

Though Odoo 15 was already fast Odoo Development and Odoo 16 mean 3.7 times faster
invoice opening from the backend, 2.4 times lesser SQL queries for every URL, 3.9 times quicker
eCommerce pages load, etc. Now the ‘change’ modes will be using computed fields. Rather than
taking 79.5 seconds to create 50 invoices with 50 lines, it now will take just 19.44 seconds. A better
server framework, introduction to fragment caching, credit limit warnings, early payment discounts,
Storno accounting support, recurring invoices, Odoo Online servers upgraded to HTTP 2.0, and much
more are going to benefit you immensely. Let us know these in detail.

Odoo 16 ERP solution features and benefits

Odoo is ideal for the next gen-ERP solution. It will address all your business operations management
needs. Odoo 16 is topping the charts and has become one of the best ERP-based tools for every
business.

Let us now identify the top reasons why Odoo 16 is a superior ERP solution.

Incredible Speed

Most JavaScript components on the web client have been using OWL 2. This allows backend views to
load controllers around 20 times. Odoo 16 makes the website and eCommerce 2.7 times faster to
load. Also, the invoice opening from the backend can be done 3.7 times faster. If you have used

Odoo 15 or previous versions, you would know that it took 79.5 seconds to compute 50 invoices
with 50 lines but the new Odoo 16 does the job in 19.44 seconds.

New Knowledge App

When there is so much data and information around us, at times it becomes difficult to get the right
answer. Due to the increased remote work culture, the information is floating around your emails,
spreadsheets, word document, etc. You have several sources for one piece of information. It is
challenging to find one single source that you can trust and find the correct information. The
Knowledge app in Odoo 16 does not need you to struggle with scattered information and enjoy a
single source.

Accounting

This version is going to tremendously improve the user experience in terms of accounting. With
revised account reports that are performance-driven and based on definition, UI, and audit, you will
experience better results. There is a new analytic widget in the Odoo 16 that will make the analytic
distribution, plans, and distribution models easier. The users also get financial Reports to debug
tools using which they can analyze the missing accounts. The bill payment widgets and invoices will
make multi-currency transactions easier.

Website and eCommerce

In this new Odoo version, you can avail the benefit of an accessible website the moment the app
icon is clicked, instead of going through the website app dashboard. The new version is built to
enhance privacy, fresh menus, user engagement, and easy customization.

Improved email marketing:

Odoo 16 now includes new features for email marketing, including improved tracking and analytics,
better integration with social media, and advanced automation options.

Enhanced Point of Sale (POS) system:

The POS system in Odoo 16 has been enhanced with new features such as advanced inventory
management, support for multiple payment methods, and improved reporting.

Manufacturing and Inventory

The latest version allows reference and status viewing on the customer portal, easy rescheduling of
the orders expired notifications, split and merge orders for production and planning, warning icons,
revamped inventory reporting, etc.

Autosave Option

There is no need to press the edit and save buttons anymore. With Odoo 16, everything gets
automatically saved, allowing you to save a lot of hassle.

Wrapping up

Though ERP systems have been used since the 1990s that involved complex operational processes,
the new and modern ERP software is found to be more scalable, flexible, and has the ability to
customize. Odoo 16 is a well-seasoned ERP software, that deserves to be part of your ‘to-do’ list for
this year. Speak to Odoo Consultant for more details.