There are many ERP software available in the market, but Odoo and Oracle E-Business Suite are the most popular ones. Both these ERP solutions have their own unique features, pros, and cons. This article explains why your business should choose to develop an ERP and the pros and cons of using Odoo and Oracle Suite.

Importance of ERP

ERP is software that helps companies to manage their core business functions and processes. It automates an organisation’s operations, finances, supply chain, and other operations through real-time data integration.

Small and large organisations use ERP systems to give them greater control over their operations. It offers better visibility of what’s happening in your business at any given time, so you can make faster decisions based on reliable information rather than guesswork or intuition alone.

What is Odoo Software?

Odoo is a suite of business applications that helps you manage your sales, marketing, finance, and operations. It is a complete business solution for small and medium-sized businesses.

Odoo has a free community version that can be used by any small business. However, if you want more features, then there are paid versions available as well.

What is the Oracle E-Business Suite?

Oracle E-Business Suite is a comprehensive suite of business applications. It’s a complete enterprise resource planning (ERP) software suite that delivers a wide range of functionality to support the entire life cycle of your organisation’s products and services.

The Oracle E-Business Suite includes:

  • Financials – Oracle General Ledger, Financial Reporting and Management Tools
  • Sales – Order Management; Inventory Management; Replenishment Forecasting & Planning; Pricing & Margins Analysis; Sales Order Processing / eCommerce Enablement.
  • Manufacturing – Bill Of Materials Management; Capacity Planning & Utilization Forecasting; Production Scheduling.
  • Human Capital Management (HCM) – Talent Acquisition And Onboarding; Time And Attendance Tracking; Payroll Processing / Payroll Data Quality Solutions.

Odoo vs. Oracle E-Business Suite

  • Odoo is a cloud-based ERP software that can be used by small and medium businesses. It offers flexibility, scalability, reliability, and customisation.
  • The Oracle E-Business Suite is an on-premise ERP software that offers complex functionality with high performance. The Oracle EBS solution is suited for large enterprises that need advanced reporting capabilities or have complex requirements, such as multi-jurisdictional support and global distribution channels.
  • Both have strong accounting & finance features; however, Odoo has the edge because of its more significant number of integration features.
  • Oracle offers a little more with inventory management like its barcode scanning feature and simplifies the process; however, it comes at a higher cost.
  • In terms of scalability, Odoo works out to be more effective, simpler & requires less effort to implement.
  • The HR management features Oracle offers include employee management, internet recruiting, tracking skills, etc. In comparison, Odoo offers employee & payroll management and a few other features.
  • Odoo has a more straightforward interface, making it easier to implement, making it easier for small & medium businesses to implement. On the other hand, Oracle has a more complex architecture and requires a high level of technical expertise, making it fit for large companies.
  • Odoo is open-source software, free to use, and costs less to implement. On the other hand, Oracle is a proprietary solution and more expensive to implement. 
  • Odoo has a robust API allowing it to integrate with various third-party solutions, besides which it also has several plugins. Oracle also provides custom integrations, which can be time-consuming and expensive. 
  • Both software are equally supported; however, Oracle can be more expensive to manage. 
  • Oracle is available in English, while Odoo offers many other languages like German, Japanese, Dutch, etc. 

How to Develop an ERP for Your Business?

It would help if you started with a business plan to develop an ERP. This will help you understand your business needs and define your requirements. Next, create a functional specification that outlines how you want the system to work from the user’s perspective. The following steps will help you choose the right ERP software:

  • Identify your stakeholders, including management team members, employees, customers, and suppliers, and ask them what they would like to achieve using this new technology. They may have some great ideas about how it could improve their day-to-day workflows or make it easier for them to access information when needed.
  • You’ll need something that has all of those features plus more besides! But don’t just go with what seems easiest; think carefully about which solution would best solve any potential problems within your organisation before deciding.
  • Consult an expert software development company offering website and mobile application development solutions. They will have the expertise to guide you correctly and build the perfect solution. For example, Divwy Technologies is one such company that can be of assistance in developing the perfect ERP for your business.

Tips for choosing the right ERP software

When choosing your ERP software, there are several factors to consider. First, consider your business needs. If you are starting with a small team and need basic accounting functions, Odoo will most likely be overkill. On the other hand, if you have multiple divisions or locations with complex financial reporting requirements that go beyond essential accounting functions (such as AP automation), then Oracle E-Business Suite may be better suited for this type of environment.

Second, look at the features offered by both platforms: what do they offer? Do they meet all of your requirements? Are there any missing features that make them more useful in certain situations? For example, if one platform has an excellent inventory management module but no reporting capabilities while another has great reporting features but no inventory management tool, then chances are good that neither system will meet all of your needs perfectly!

Important ERP Statistics

  • ERP software is a must-have for every business. It is a solution that helps businesses manage their operations and provides a complete business overview. As a result, ERP software can help you reduce costs, increase efficiency and improve customer satisfaction.
  • Many ERP systems are available in the market today, but only some are suitable for some types of businesses or industries; therefore, it is important for you, as an entrepreneur or owner, to understand your requirements before choosing one over another.
  • Over 70% of large enterprises use ERP Software.
  • The global ERP market is expected to rise to $74.2 Billion by 2023.
  • Over 53% of organisations have seen a positive ROI from their ERP implementations.

Pros and Cons of Odoo ERP

Pros:

  • Odoo is a complete business solution that includes accounting, CRM, marketing and sales automation, ecommerce, and more. This makes it highly customisable and scalable for any business size or industry.
  • It has an open-source codebase, so you can change the software to suit your needs without incurring licensing fees or additional costs from third parties.

Cons:

  • The user interface may be complicated for beginners who need to become more familiar with software development languages such as Python (the language used by Odoo).

Pros and Cons of Oracle E-Business ERP

Pros:

  • Bigger, more powerful ERP system
  • Stronger business intelligence capabilities
  • More robust reporting and analytics tools

The Verdict

If you’re considering implementing an ERP system for your business, it’s vital that you make the right choice. You want to invest in something that can grow with your company and provide value. Consult the experts like Divwy Technologies, who have the expertise to offer professional guidance. We also have a highly skilled team of developers to assist with the development of your custom ERP. 

Odoo is one of the most popular open-source ERP software solutions today. It offers a wide range of features and capabilities that make it ideal for small and mid-sized businesses looking to automate their operations. So if you’re looking for an affordable alternative to Oracle E-Business Suite, Odoo may be just what you need.

On the other hand, Oracle offers a big feature set and allows one to customise it to a greater extent making it fit for larger businesses with special requirements. Get in touch with Divwy Technology to develop the best ERP solution for your business and boost your productivity to gain the upper edge. 

Summary

In this article, we have discussed the importance of ERP and how it can help your business. We also looked at the difference between Odoo and Oracle E-Business Suite. The main takeaway is that ERP software should be chosen after considering all its pros and cons.

https://www.divwytechnologies.com/blog/wp-content/uploads/2023/06/oracle-vs-odoo-min.pnghttps://www.divwytechnologies.com/blog/wp-content/uploads/2023/06/oracle-vs-odoo-min-150x150.pngDivwy TechnologieseCommerce Website DevelopmentMaking the Right Choice: Odoo or Oracle E-Business Suite?,Odoo ERP vs. Oracle EBS,Odoo vs Oracle E-Business Suite - 2023 Comparison,Odoo vs Oracle EBS: Choosing the Right ERP Solution,Oracle vs Odoo: Which One Is Better?There are many ERP software available in the market, but Odoo and Oracle E-Business Suite are the most popular ones. Both these ERP solutions have their own unique features, pros, and cons. This article explains why your business should choose to develop an ERP and the pros and cons...