Features of Odoo ERP 17 For Trading Businesses

Odoo ERP 17, the latest version of the ERP, has come up with a myriad of upgraded features of the trading industry as well. Here’s the checklist of those features that trading business owners must check out and go for Odoo development and implementation for better business management. 

With the introduction of Odoo 17, the latest version of the renowned ERP solution, you gain the ability to seamlessly navigate intricate supply chains, diverse product portfolios, and ever-changing market trends. Equipped with a robust set of functionalities and enhancements, Odoo 17 is positioned to propel trading enterprises to new levels of productivity, profitability, and competitiveness. Odoo ensures a centralised and unified platform for its customers through its Sales, Point of Sale (PoS), Ecommerce, and mobile commerce processes.

This article will let you dive into the transformative capabilities of Odoo in the trading sector, highlighting how it empowers businesses to shift from trade to triumph. For further implementation and integration assistance, consider connecting with an Odoo development company. Now, let's explore what the Odoo 17 update has in store! 

Features and Modules of Odoo 17 for Trading Businesses. 

Accounting Module:

Odoo 17 introduces several notable features in the Accounting module, including:

Streamlined Partner Creation: Making partner creation more convenient, Odoo 17 allows the prefilling of VAT numbers and partner names during manual matching.

AI-Powered Bills: Experience enhanced accuracy with AI-powered predictions for accounts, taxes, and even products on vendor bill lines.

Local Currency Expression for Invoices: Invoices sent to customers can now be computed in the local currency, adding flexibility.

Auto-Reconcile Wizard: A new wizard in Odoo 17 facilitates auto-reconciliation, streamlining the reconciliation process.

Improved Report Loading Speed: Large databases will benefit from faster loading times of accounting reports, thanks to the addition of a new prefix group mechanism.

Sales Module:

Odoo's sales module in version 17 brings several new features, including:

Sales Without Pricelists: Enjoy the flexibility of using the sales flow without the need for pricelists.

Mass Cancellation of Quotations: Simplify your workflow by canceling multiple quotations at once with a convenient selection option.

Wire Transfers and Payment Instruction: Generate payment instructions for wire transfers using available bank accounts, streamlining financial transactions.

Lock Sales Order: Gain control by locking sales orders at any given point in time.

Purchase Module:

The updated Purchase module in Odoo 17 offers the following enhancements: -

Operations Menu: Quickly locate operations with the improved version of the Operations menu.

Lots Expiry and Quantity Mass Entry: Effortlessly enter expiration dates and quantities for multiple lots/serial numbers by utilising the mass entry feature.

Report Barcodes: Simplify the picking and packing process from one location to another with the assistance of reception reports featuring barcodes.

LOT Properties: Enhance visibility with lot numbers displayed on the quantity (quant).

Planning Module:

Odoo's Planning Module introduces the following features in version 17:

Auto Plan Open Shifts: Leverage Odoo's workforce management capabilities to automatically assign open shifts to employees based on their availability, time off, working hours, and roles.

Components Demand Propagation: Streamline your planning process with the automatic propagation of demand for components.

Split Shifts from Gantt View: Enhance scheduling flexibility by splitting long shifts into multiple segments directly from the Gantt view.

Switching Shifts: Odoo 17 enhances system flexibility by allowing employees to switch shifts with their peers. Employees can initiate a shift change request by specifying the colleague they wish to switch with. The recipient receives a notification and can choose to accept or decline the shift switch.

How the trading industry can benefit from Odoo 17? 

Various trading types, including Retail, Wholesale, Commodity, Stock, Forex, and Online Trading, can benefit significantly from Odoo implementation.

Odoo's ERP features:

Optimised Inventory Management: Odoo enhances stock level optimisation, reduces carrying costs, and ensures product availability.

Simplified Procurement: Streamline procurement processes by automating purchase orders, managing suppliers, and negotiating with vendors.

Warehouse Efficiency: Improve warehouse operations through features like pick, pack, and ship management.

Reporting and Analytics: Utilise Odoo's Reporting and Analytics for customised dashboards and reports, gaining deeper insights into trading performance.

Implementing Odoo in trading businesses enhances customer service, reduces costs, and streamlines operations, revolutionising the way enterprises operate and succeed. Odoo 17, with advanced features for efficient inventory management and enhanced financial control, guides businesses toward greater productivity, profitability, and enduring success. 

Alex Forsyth is an expert Odoo developer associated with an official Odoo development service provider in Australia, Envertis Software Solutions. In this article, the author has enlisted the features of Odoo 17 for trading businesses.