Odoo and Acumatica are some of the most standout ERPs for businesses of all sizes.
Both systems are designed to help small businesses, offering them a flexible structure to add and remove functionalities as they grow.
Knowing that an ERP increases productivity by 78%, which one of these ERPs would you choose?
Let’s help you find out.
Key Takeaways
- 67% of businesses have implemented an ERP to improve operational efficiency.
- Odoo is an ERP for startups and smaller businesses but Acumatica is designed for small businesses with complex needs.
- Odoo is easily customizable but requires technical expertise for implementation.
- While both ERP solutions are affordable, Acumatica can be more expensive as it has a consumption-based pricing plan.
A quick overview of Acumatica and Odoo
43% of small businesses don’t track their inventory at all, resulting in minor and major losses.
And even if the amount is minimal, it’s almost similar to death by a thousand paper cuts.
On the other hand, businesses that use tools to automate and manage inventory experience a 50% increase in operational efficiency.
About 67% of businesses have implemented an ERP system in their organization to manage their inventory and centralize their database, automating related processes, like accounting and supply chain.
Acumatica and Odoo are popular ERP solutions for growing businesses. Both are known for their flexible structure, offering different applications to handle specific operations — all in one place.
While Acumatica is a cloud-based software, Odoo is an open-source ERP. This means that its core system is free to use but if you want access to its Enterprise features, you’ll have to pay an additional cost.
You can use both Acumatica and Odoo to streamline different business processes.
So instead of using one application to manage inventory and another to handle your finances, it’s better to have one software that handles both tasks on one platform.
Not only does it reduce data inconsistencies, but it also decreases your business cost.
With a single subscription, you can handle various business operations.
Both ERP solutions are simple and easy to use with highly customizable features. While Acumatica is used mostly by companies making 10 million a year, Odoo is excellent for startups making 1 million in revenue.
| Features | Acumatica | Odoo |
|---|---|---|
| System | Cloud-based | Open-source |
| Flexibility | High | High |
| User-friendliness | The interface is simple with information easily accessible from any device | Intuitive and easy to use with drag-and-drop functionality |
| Integration | Open API system, making it easy to connect with third-party applications | An open-source system so you can customize it with add-ons |
| Customization | Highly customizable but requires technical expertise, adding to the overall cost | Highly customizable as you can add and delete applications to meet specific business needs at an affordable cost |
| Price | Consumption-based pricing | Monthly-based subscriptions per user |
| Core features | Finance management, e-commerce, Payroll, etc | Accounting, inventory management, CRM, etc. |
Core features of Acumatica and Odoo
1. Finance management
Odoo
Odoo helps businesses track and record their financial transactions in real-time. It has features that allow you to handle account payables and receivables.
You can also automate payment reminders, eliminating the need to follow up with each vendor and customer individually.
Not only can you use Odoo to predict and evaluate cash inflows and outflows, but you can also use it to calculate, prepare, and file your taxes.
Because Odoo handles multi-currencies, it automatically updates the exchange rate, making global payments simpler and more convenient.
Usually, businesses that grow out of spreadsheets turn to Odoo. Odoo has a free one-application plan, and they usually pick accounting.
Acumatica
Acumatica offers small businesses a solid finance management system. Its General Ledger is used to track daily transactions. So, if you’re interested in upgrading your cash flow management, this is the solution for you.
It allows you to receive payments from and send payments to different vendors. It can be used for bank reconciliations, creating production orders, and tax preparation.
While it offers a variety of features, it can be inadequate for handling complex financials.
So, to give you an example, it is better to use NetSuite if you’re dealing with more than 10 million in revenue a year.
2. Supply chain management
Odoo
You can use Odoo to get control over your inventory. It does so by automating processes and adding real-time tracking to your inventory. It makes order processing and delivery quicker and more efficient. This also ends up increasing customer satisfaction.
You can automatically reorder stock to avoid stockout situations. The tracker is available in multiple locations. So whether you are out of stock in your online store or the physical store, you’ll be notified in both cases.
From sending quotations to turning them into sales orders and generating invoices, Odoo handles all aspects of your sales. You can use it to improve interactions with your suppliers and find the best rates.
Acumatica
You can use Acumatica to get real-time information on your inventory levels. You can simplify inventory management by using its item management feature which makes orders and deliverables traceable.
Acumatica offers contract management functionality that lets you renew contracts with vendors. You can also use it to schedule appointments with them.
It is excellent for managing order purchasing with features that ensure all policies and SOPs are followed to avoid compliance and regulatory issues.
You can simplify distribution processes as this system lets you manage multiple suppliers and products at the same time.
It has a centralized database that makes sales and inventory tracking easier as real-time changes take place, adding to your visibility and control.
3. Manufacturing
Odoo
Odoo has a smart Kanban view that allows you to organize all manufacturing tasks.
It lets you schedule and plan out your entire manufacturing process from start to finish, adding quality checks along the way. This way you get a notification every time an SOP is violated during production. All of this is done in real-time so you can control costs.
It has a barcode scanner that speeds up your manufacturing operations, making them simpler and traceable. You can start, pause, and stop production as you please. You can also schedule regular maintenance.
While Odoo offers an advanced manufacturing system, it continues to be simple and easy to use so you don’t need any technical expertise.
Acumatica
Businesses use Acumatica to manage different aspects of manufacturing. It is ideal for manufacturing businesses looking for a system that identifies high demand to manage production levels.
It has features to handle schedules should there be any delays in production, like late deliveries of raw materials.
Equipment is an important aspect of production. In case it gets damaged, this tool can help you evaluate the impact on the manufacturing process, like financial loss and order delays.
4. Project management
Odoo
Odoo is great when it comes to project management. It has various tools that improve collaboration within departments like a salesperson can have access to customer information to improve their interactions.
You can customize the dashboard and track a project in Kanban view or a listicle. It can show you the progress of one project or multiple projects. You can add information, using property fields, tags, and colors to highlight their priority.
Its drag-and-drop functionality makes project management easy as you can schedule projects within seconds and ensure they align with the other person’s calendar and availability.
You can use group filters to organize the tasks. Track deadlines and milestones, and tag relevant stakeholders.
Acumatica
Acumatica has several project management features, like time and expense tracking. It is designed to help small businesses manage every financial aspect of a project.
So you can use it to track and evaluate the cost of a project correctly. It also helps with creating bills.
Reasons you should implement Odoo into your business
- The best thing about Odoo integration is its scalability. So you can begin operations with only one of its apps, which by the way, is free. And as your business grows and its needs change, you can add or delete them as you go.
- You have access to different applications and you get to choose which ones to keep using and which ones to delete to keep the dashboard clean and organized.
- Odoo gives you a centralized database to store all business information in one place. It makes collaboration between departments more efficient. And because the system is updated in real-time, you can make decisions on the go, knowing they are based on the latest updates.
- You can highlight low-stock and stock-out information on your e-commerce sites based on real-time inventory levels. It ensures you don’t oversell a product.
Reasons you should implement Acumatica into your business
- Acumatica is a cloud-based solution making it easily accessible from any place and any device. It keeps your operations on track even if an employee is on vacation. It is great for high-priority projects.
- Unlike NetSuite, Acumatica is affordable. You only pay for the applications you need. This makes it one of the cheaper options for an ERP.
The bottom line
Before deciding which ERP to add to your business, make sure you evaluate your core needs.
Budget is another important consideration.
But all of that will be secondary because you have to ensure you have technical expertise on board to help you with these implementations, especially in the case of Odoo.
Speaking of technical expertise, Ledger Labs has been helping businesses for over 12 years now, providing comprehensive bookkeeping and accounting solutions.
For your Odoo accounting services, we at Ledger Labs are enough. Let’s book an appointment to find out how our services can help your business.
