In the digital age, businesses who’ve truly mastered the art of retailing know that digital transformation can play a huge role in succeeding on this front. Retailers who are adapting their strategies with new technology are most likely to continue to see a steady rise in their in-store sales. In this post, we will give you a sound understanding of Odoo, a powerful retail management system that contributes to the future success of the retailing industry.
Table of Contents
What is a retail management system?
In its simplest form, a retail management system (RMS) is a platform that combines several technological tools to support the operation of a retail store or chain.
Retail management systems can help retailers provide multiple services to customers in one place, thereby streamlining the process of running a store. For example, a retail management system can offer a combination of some solutions such as customer checkout, shift scheduling, or finance tracking to improve business performance… What’s more, some platforms are compatible with mobile devices, which assists employees in completing the task on the go.
Below are some typical components of a retail management system. The elements and functions vary depending on the platform you adopt.
- Inventory management,
- Workforce management
- Point of Sale (POS)
- Customer relationship management (CRM)
- Marketing or eCommerce tools
Transform Your Retail Business With Odoo Solution
A Brief Overview about Odoo
Released in 2005, ODOO has become the favourite choice of retail management system for many companies as it handles a wide range of business needs. In other words, we can say that it is a comprehensive suite of open-source business apps for the retailing industry.
Let’s take a look at some of Odoo’s exceptional retail management system features that contribute to its robust function:
- Open-source and free enterprise resource planning systems
- Integrated scalability
- Easy to customize
- Intuitive user interface
- Functional coverage expands to many different areas: CRM, Sales Management, Warehouse Management, Manufacturing, Project Management, Purchasing Management, POS.
Regarding the price, besides a 15-day free trial, Odoo set a reasonable subscription pricing plan for each entity in the corporate world.
- Individual: $7.5/new user/month, $10/user/month (only for cloud-based version), $72/user/year
- Enterprise version (cloud-based and on-premise): $28/user/month, plus the costs of the applications.
- Basic Success Pack: $977.50/25 hours (expire after one year)
>>>> Read more: TOP 15 Project management software to grow your business
Odoo Retail Management System – The ideal match software for the retailing industry
After having general knowledge about the platform, let’s get down to business with some key features that make Odoo a perfect fit for retail businesses.
Point Of Sale
Odoo POS offers a smart and flexible interface so that any retail company can use it without hassle. Other than that, this intuitive interface also allows you to configure different modes to meet your precise needs.
The feature stays reliable even when there are problems with your Internet connection. All you need to do is activate the system under a network, then you can enjoy the convenience of Odoo POS at any time and anywhere. Email marketing is another useful function integrated with Odoo retail management system POS. Specifically, with this module, users can keep track of customers’ habits and easily send them special offers and sale notices.
Regarding inventory management, the Odoo Inventory app automatically inputs transactions from the POS, and provides accurate forecasts of stock levels. As a result, retail owners can have a consolidated and real-time view of all their operations and inventory. Besides, the POS solution is compatible with Odoo eCommerce, which helps to avoid overlapping features and turns your business into a truly multi-channel one.
In terms of sales, Odoo proves to be an effective retail management platform to help buyers manage and classify their sales orders into a well-structured and hierarchical system. That means they can create new orders and review existing ones in their various states.
Unlike other retail management systems, Odoo allows customers to sign the online quotation anywhere with their e-signature. Once the confirmation of an order is done, the delivery of goods and invoicing is automatically triggered.
At the same time, Odoo sales module serves the function as a showroom of your products and services. It displays detailed descriptions, images, prices, promotional programs, and quotations. Plus, owners can rest assured that contracts and invoicing phases are recorded thoroughly, which frees employees from the complicated clerical work.
Subscription and Rental Solution
Obviously, maintaining a customer’s active subscription through a positive shopping experience is crucial for any retail company to drive sales. And Odoo retail management system is an excellent choice to help business owners achieve the goal.
In detail, there is no login requirement, and the signup procedure is also alleviated with some simple steps. Once customers are delivered to the main screen of Odoo, they will be welcomed by a user-friendly portal containing all their data and contract options. In terms of payment, Odoo retail management system software is a time-efficient solution thanks to its auto-invoice settings. Thus, recurring billings are handled quickly, leading to a better customer experience while shopping at your e-store.
With regard to rental solutions, Odoo is an ideal match to streamline your rental process. In particular, business owners can enjoy a hassle-free method of managing their rental orders. For example, they can create the delivery, return or schedule from one single view, keep an eye on the stock as well as send professional quotations to customers. Last but not least, Odoo offers an all-in-one solution package – with other Odoo apps joining hands to manage the complete lifecycle of rental products.
CRM is among the innovative retail management solutions offered by Odoo. With this module, business owners can efficiently track leads, close opportunities, and grasp a broad overview of sales activities in an intuitive dashboard.
Also, the platform automates key tasks such as communication, prioritization, identification, notification, assignment, and case resolution to enhance collaboration in the workplace. Finally, it provides useful tips and best practices to enable business users to strategically configure and deploy their CRM.
In a nutshell, Odoo is a high-performance retail management system that can bring tremendous benefits to the retailing industry. We hope with this informative article, you can have a decent choice of technological software to lift up your business.
If you’ve got any concern regarding Odoo’s function, just type your issues in the comment box and we will get back to you with a thorough explanation.