Reasons Why Odoo Is The Best ERP For Small & Medium Level Businesses

Robust technological advancements have brought about a sea of change in the IT market. Almost every company is on a run to keep in pace with these updated trends. Their main motive is to stay in the competition, get high rankings on SERPs, and manage business operations with productivity and ease. Today, an ERP for small businesses has become a must to execute their daily tasks through a single, integrated suite of applications like the ERP system.

The Odoo Enterprise Resource Planning system is one of the key tools in managing the core business functions of both small and medium-sized businesses. It does so through streamlining and automation. The modular structure of functioning takes care of every aspect – from order processing, production management, inventory and warehouse management, sales and purchase tracking, shipment tracking, managing finances, and more. It professionally supervises business resources and improves production, revenue, organises orders, sales, ROI, manufacturing capacity, employee management, etc. It also ensures that communication is maintained between all employees and across all departments.

However one of the best things about using an ERP for small business is that all these functions and tasks are done via a single dashboard control with built-in analytics and data sharing options. This further encourages collaboration and harmony across all departments of the company.

What are the numbers?

With several affordable ERP solutions available now, small businesses are also using it for their rapid and progressive business growth. The data below speaks about it all –

Approximately 53% of small businesses today prefer an ERP solution along with CRM as their priority investments.
As per research, 65% of the SMEs are already taking ERP consultation services.
96% of the emerging small businesses excelling in their respective industry verticals are found to rely on some ERP solution.
Small businesses using an ERP software solution are able to make decisions in 36% less time now.
SMEs, which are currently working with reliable ERP service providers are found to save 21% time in performing business operations.

An ERP software solution is implemented and integrated into each and every department of a business no matter what their size and category are. Implementing and integrating an ERP software solution entails strategic and careful planning to minimise the risk of work failure and to make sure that each and every business goal is adequately met.

But the process of successful ERP implementation needs the efforts and expertise of reliable ERP consultants. A successful ERP implementation is possible after a standardised integration blueprint along with the involvement of the ERP experts. Any business, no matter the small or medium level can get real-time ROI with the properly executed and strategic implementation of a feature-rich and popular ERP software solution like Odoo.

Odoo: The Ideal Choice for Small Business

Odoo is now the most preferred ERP solution for every small and medium level business. It comes with robust and intuitive features that SMEs can leverage for managing different business verticals like manufacturing, retailing, trading, and so on. Moreover, businesses do not have to pay any license fee, which makes it a cost-effective option for the SMEs as well.

Odoo ERP is open-source and flexible and also customisable as per the business requirements and workflow. Its well-structured methodology delivers upgraded software solutions to match and meet business objectives so that the ultimate productivity level can be achieved. Moreover,

small and medium level companies also need a powerful customer relationship management system and this is where Odoo comes to the rescue. With its in-built module, it upholds the capability of resolving the queries of the customers instantly tending to offer the maximum user satisfaction and user retention.

You must integrate and implement the ERP into your business system to ensure efficiency and increased productivity. An ERP like Odoo allows you to reach the highest peak of success, paving more ways for futuristic growth and expansion. The smaller businesses take one step forward with the support of this application suite, hence the advantages of the Odoo ERP is indisputable.

Odoo: The One-in-All solution

So, what makes Odoo the best choice of ERP for an SME? The answer is its modularity, affordability, ease of use, flexibility, and accessibility. Your business, even if it is a small-level one, can deploy this ERP effortlessly.

As open-source software, Odoo comes with a rarefied interface that gives you complete control over the business processes, therefore governing your business system and workflow. If you compare Odoo with the other ERP options available today, you can find that this is undoubtedly rich in features and functionalities.

Here are the key reasons why Odoo is the best ERP for small business today.

A Comprehensive and Cohesive Application

All businesses run on the basis of a distinct set of operations like accounting, customer relationship management, sales and purchase orders tracking, human resource management, warehouse management, and more. While a majority of the organisations manage these by using multiple software applications, it becomes expensive and haphazard for the company instead.

For the SME’s, being unable to afford this huge investment, they start relying on multiple vendors and software solutions to take care of these operations. But with the Odoo ERP software, these small businesses are now benefitted manifolds. With various features, functionalities, apps, and modules, it stands out as the best choice with everything under a single platform.

Odoo comes with thousands of modules and a complete suite of applications to cover all business operations. This ERP encompasses different modules like inventory module, CRM module, accounting module, human resource module, manufacturing module, and more for almost all business processes. Odoo’s application store comprises thousands of apps catering to different operations of small and medium level businesses.

Extremely cost-effective

Investment or the cost factor is always a matter of concern for every small and medium-level company. Often, because of the restricted budget, the SME ignores the need for an ERP implementation. ERP software solutions like SAP, ERPNext, Oracle, and Microsoft Dynamics charge a huge amount of cost. But unlike these, Odoo streamlines the business process and fulfils almost every major business requirements at affordable prices.

With Odoo ERP, you won’t have to pay any license fee. The installation charge is also very nominal. The community version is also very cost-effective. Overall, this ERP is the most affordable solution for every business today and is the perfect choice for the SMEs. It ensures maximum ROI, easy business management, and a smooth workflow.

Easy availability

Odoo is easily available and is free to download. This is again the reason to choose this ERP instead of the other models available in the market today. It is suitable for every business need, especially for the SMEs. Also, with Odoo, you can easily check the suitability and requirements of features and functionalities so that it can appropriately take care of all your vital business tasks.

Simple integration and implementation

Odoo is an API-friendly ERP software and is pretty simple to integrate and implement. Odoo reduces the probability of untimely behavioural changes that every small business goes through. In addition to this, Odoo ERP has a modular structure, which makes it a great choice for the SMEs. The small and medium-level businesses can begin with implementing the basic modules as per the requirements. Gradually they can progress with customising and including more modules for better performance results.

Highly modular

Odoo comes with thousands of modules, which can be operated and integrated according to the business requirements. It is easy to use these modules and implement the same for managing the business right from warehouse management to sales, orders, shipping, manufacturing, eCommerce, trading, finances, human resources, customer relationships, and more. And the best thing is that all these modules are fully customisable.

Open-source

Odoo is an open-source ERP software solution, which makes it easily accessible to all. Because of the open-source nature of the ERP, you can access the codes and modules any time as per your interest. This is again another significant advantage of using Odoo as the ERP for small business.

Streamlined UI

Navigation is quick and simple in the Odoo ERP because of the streamlined and robust laid out interface. As compared to the other ERP options, where the UI tends to be complex and cluttered, Odoo stands out as the best with a simple UI and allows easy execution of functions.

Maintains transparency

The transparency maintained by Odoo cuts down the need to export or re-enter data, resulting in fewer glitches, errors and leading to flawless business performance. It increases productivity, which is an important aspect of every small and medium level business. It also reduces the investment in human resources, thus automating every business operation at the same time.

Quick decision-making

Real-time data offered by an ERP like Odoo proves to be advantageous for business marketing and management, accounting, etc. It enables the business to make quick decisions on vital matters thereby reducing the overdue of deadlines.

Increase the overall productivity

One of the major reasons to choose Odoo ERP for a small or medium-level business is a huge increase in overall productivity. For every SME, this is a significant factor. An increase in productivity is the main objective of all growing ventures. And this is what Odoo guarantees to offer. With Odoo, transforming several features of the business and overcoming some major challenges faced during business growth, becomes easy.

Streamlined data

When an SME chooses to get ERP software like Odoo implemented into their business system, mainly because of the benefit of obtaining a streamlined data flow. For instance, the financial data of a business needed by the inventory department of the business can be a little tough to get hold of. But, with Odoo ERP software, it becomes easy since all the official data and info are available to every department and employees.

Improved communication and collaboration

Integrating an ERP for a small and medium level business can result in a vast change when it is all about communication and collaboration between different departments of work. Lack of collaboration and poor communication often results in unavailability and inaccessibility of data. Of course, no growing business would want this to happen. This is the reason why choosing an ERP software solution like Odoo becomes highly important.

Take 10 Minutes to Get Started With Car Insurance Premium Calculator [Top 10 List]

What is Car Insurance Premium Calculator?

Car insurance premium calculator is a dynamic tool provided, online, by car insurance companies. Get started with top 10 car insurance premium calculator online.

Almost every reputed motor insurance company has an car insurance premium calculator on their official portal.
With the help of the car insurance premium calculator, customers can get a quote for their car insurance policy and the premium amount they need to pay for the same.
You have to visit the ‘car insurance calculator’ page and fill in some basic information about yourself like the policyholder’s name, contact details and address, followed by some standard details about the insured/to be insured car. These details are – car manufacturer’s name, model number of the car, manufacturing year, car sub-type (if any), fuel type and registration date.
Some companies also give you an option of selecting if you want to insure the accessories installed inside the car.
After you have filled the details correctly, just click on the ‘calculate premium’ button and you will immediately get the quote.
After this, you also get an option to get more information and payment option to buy car insurance of your choice.

What are the benefits of a Car Insurance Premium Calculator?

Now that we know what a car insurance premium calculator is, let us find out why it is worth a try:

Using a car insurance calculator helps you evaluate your insurance needs, which makes it easy to select the best policy that covers all the requirements.
It is an easy and efficient way to compare premium rates of a variety of plans with various features for your vehicle.
The process of purchasing a policy becomes unbiased as you don’t have to be under the influence of an agent/broker, and are free to make your own choice.
By using a car insurance calculator, You get accurate information about the premium amount you’ll be paying for a particular policy.
You can also understand the way premium rates change with a change in variables.

How to use Car Insurance Premium Calculator?

Any online car insurance calculator will ask you for basic details of your car such as the make and model, registration number, manufacture date etc to calculate the premium.

However, you also need to know about the following factors that affect the premium value:

Insured Declared Value or IDV of the Vehicle This is one of the most important factors that has an impact on the premium for your car. IDV is the sum insured for the vehicle that is finalized by the insurer. In simple terms, it the current value of the vehicle as per market.
Cubic Capacity (CC) of the Vehicle The engine power of your vehicle is directly proportional to your car insurance premium.
No Claim bonus (NCB) You can save up to 50% on the Own Damage premium if you have a No Claim Bonus feature in your car policy.
Additional Discounts Installing anti-theft devices in your car or becoming a member of the Automobile Association of India (AAI) can considerably reduce your automobile insurance premium too.
Car Accessories Any modifications to the vehicle will add an extra amount to your insurance premium.

So you have understood very well, What is car insurance premium calculator? and the benefits to use car insurance premium calculator, so take 10 Minutes to Get Started With car insurance premium calculator[Top 10 List].

1. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength.

Bajaj Allianz received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct various businesses (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.

As on 31st March 2017, Bajaj Allianz continues to be one of the most financially robust insurers in the industry by maintaining its growth as well as profitability. The company has made a profit before tax of Rs. 1,078 crore and emerged as the most profitable insurer recording a profit after tax of Rs. 728 crore. The company reported a GWP of Rs. 7,687 crore, which has grown by 30.3% compared to the last fiscal year.

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2.HDFC ERGO General Insurance Company Limited

HDFC ERGO General Insurance Company is a 51:49 joint venture between the Housing Development Finance Corporation Ltd. (HDFC), India’s premier Housing Finance Institution, and ERGO International AG the primary insurance entity of the Munich Re Group of Germany. The Company marked the first merger in the General Insurance sector in August 2017, with IRDAI’s approval for the merger of HDFC ERGO General Insurance Co. Ltd. with HDFC General Insurance Ltd. (formerly Known as L&T General Insurance Co. Ltd.), and the merged entity, known as HDFC ERGO General Insurance Co. Ltd., is the third largest General Insurance provider in the private sector.

HDFC ERGO offers products like Motor, Health, Travel, Home and Personal Accident Insurance in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space through its vast network of 122 branches which is spread across 106 cities and a wide distribution network.

HDFC ERGO has launched several technologically innovative solutions, offering customers an enhanced service experience, like the Insurance Portfolio Organiser (IPO) App, the IPO App on the Apple Watch, the Overnight Vehicle Repairs service, Motor Self-Inspection App and the HDFC ERGO Community – https://community.hdfcergo.com/. With a paradigm shift in customer engagement because of new technology innovations, the Company has enabled newer platforms for customers to engage and interact with the company like DIA, the AI-enabled chatbot service made available on the Company’s website, Amazon Alexa and Google Assistant.

HDFC ERGO has left no stone unturned in providing customer service, as the Company follows a 30 minute turn-around-time (TAT) for the processing of pre-authorised cashless Health Insurance Claims and a 15 minute TAT to process pre-authorised cashless Motor Insurance claims.

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3. Coverfox

Coverfox is an IRDAI authorised insurance broking firm. We started as a website back in 2013, with an aim to make insurance simple.

If you want to buy insurance – you would want to compare features and prices of an insurance policy and buy the best policy that you deserve. Then you would expect some help if ever you want to make a claim or renew the policy.

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4. Reliance General Insurance

We feel proud to be one of the leading general insurance companies of India. We have a huge customer base which includes individuals like you, corporates and SMEs.

With our 139 offices and more than 26,587 intermediaries across India, you can now reach out to us and enjoy our services at your own convenience. Moreover, with online & telecalling services, we have become even more accessible.

What do we have for you?

You can look up to us for many of your insurance solutions with respect to motor, health, home, travel, marine, etc. Through our products and services, we try to meet every customer’s individual needs by offering customized plans. In our endeavor to delight our customers, we strive to come up with innovative products like India’s first Over-The-Counter health & home insurance policies.

Vision

We want to score perfectly for world standard services & products, and want to be your first choice in domestic as well as global markets.

Mission

• Satisfy your need of insurance cover in that crucial hour

• Offer incomparable customer service

• Provide innovative products

• Better reach through presence across India and abroad

Goals

• Make affordable insurance accessible to all

• Keeping you, our customers, as focal point in all our operations

• Protect policy holders’ interests

• Be the most innovative in product development

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5. PolicyX

At PolicyX it’s all about you, so we make sure you get the maximum by paying the minimum for your insurance. Having insurance is having a financial security in times of death, declining health, maternity, business loss, accidents, diseases and various situations. We understand and stand by you at each step as your own by helping you cover the financial losses in times of need. We have seen and have been appalled by how many times agents play in such sensitive situations by way of cheating, fraud and mis selling. To eliminate such practices in India, we bring PolicyX to you where we believe that our customers should be provided with the best personalized policies at lower premium costs by delivering the satisfaction and sense of fulfillment that you are covered in times of emergency. We connect with our customers emotionally as we understand and respect the importance of you and your family in every aspect of life.

With our motto of Search > Choose > Buy, we get you instant quotes, help you select right quote and secure coverage right away with our technologically advanced system. We run complex algorithms to find plans that fit your requirements and return you features and quotes within seconds. Therefore, PolicyX has got you covered for your every insurance need. Why not get started? Get your first quote now!

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6. Bharti AXA General Insurance Company Ltd

Bharti AXA General Insurance Company Ltd is a joint venture between Bharti Enterprises, a leading Indian business group and AXA, a world leader in financial protection. Our firm commenced national operations in August 2008. We are licensed with IRDAI (Insurance Regulatory and Development Authority of India). With our comprehensive and innovative insurance solutions, we make sure you find the right match for your insurance need. We offer insurance coverage across various categories – Motor,Health,Travel, Home and more. You can easily purchase and renew policies from us online.

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7. Bankbazaarinsurance.com

Bankbazaarinsurance.com is an online destination for insurance comparison for customers seeking both life and general insurance products. We aim to provide customers end to end solution for their Insurance needs and build a one stop shop destination for Insurance requirements, viz. Ease and Convenience; Ease of understanding; Customized offers; Compare multiple options.

Meet the Founders:

Adhil Shetty

An engineering graduate from Anna University and holder of a Master’s degree in International Relations from Columbia University, Adhil held decisive positions at Deloitte Touche Tomahatsu’s US East Alliance and Cisco Systems before he dived headlong into scripting the BankBazaar story, the flagship brand of the group

Arjun Shetty

Arjun has a Master’s degree in Operations Research from Georgia Institute of Technology and an Engineering degree from Anna University.

Rati Shetty

Rati completed her BBA degree from the University of Madras. Rati imbibed some rich qualities from Toblerone in Brazil and Milka in the US while managing the launch and go-to market operations of many of Kraft Food’s brands in export markets across the world while working for Kraft in the US and Taiwan.

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8. Easy Insurance India

Easyinsuranceindia.com is another successful initiative of the professionals who founded ICM Computer Consultants and ICM Solutions in 1989 and 2001. These professionals were educated in the U. S. and possess a combined international experience of more than 40 years in the USA and India in the areas of corporate management and IT solution services. Over the past decade, ICM has helped more than 500 customers achieve their goals by providing effective custom solutions that combines software, hardware and other services.

We believe we are successful today because our management focuses on customer satisfaction and customer growth which permeates through the rest of the organization.

We constantly strive to make our operations more efficient, such as reengineering our processes, usage of latest technology, and many more such initiatives, which allow us to provide the customers better service and value for money.

The insurance industry is becoming more and more competitive offering wide variety of choices to customers. This is a welcome change for the customers. However, due to the complexity involved, it has become extremely cumbersome for customers to do comparative shopping for insurance.

Through easyinsuranceindia.com, we empower the customer with a powerful tool where the customers can compare the products offered by various insurance companies in one shot, thus enable the customers to decide on the best insurance cover for them.

Our Mission

ICM Insurance Brokers Private Limited (ICM) is to cover the risks of people and businesses of modern economy who seek easy, transparent, complete, and cost effective insurance solutions on demand coupled with hassle-free claim settlement.

Our Vision

ICM to be the most preferred way to purchase insurance products through easyinsuranceindia.com, its most intuitive ecommerce solutions coupled with superior customer service – during purchase and during claim.

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9.IFFCO-Tokio General Insurance

IFFCO-Tokio General Insurance was incorporated on 4th December 2000 with a vision of being industry leader by building customer satisfaction through fairness, transparency, and quick response. It is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group which is also the largest listed insurance group in Japan.

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10. Kotak General Insurance

A 100% subsidiary of India’s fastest growing bank, Kotak Mahindra Bank Ltd., Kotak Mahindra General Insurance was established to service the growing non-life insurance segment in India. At Kotak Mahindra General Insurance, we value customer service, quality and innovation above everything else.