Enterprise Resource Planning (ERP) is a crucial part of the business for the proper management of financial assets and situations and for using the resources to tackle the challenges. For this purpose, most companies today invest in custom ERP Software Development OR use ERP software like Odoo to find intelligent data analytics, automate internal processes, and manage the infrastructure. Such systems are usually founded on database processing.

While there are numerous ERP tools in the market, Odoo has gained popularity because of its ability to customize according to business purpose, a wide range of integrations, industry-specific modules, open-source, flexibility, and many other crucial factors.

The role of ERP software has become important today for business growth and success. It provides improved business analytics, better response to customer details, speeds up response times, saves costs, automates several manual & mundane tasks, and helps implement smart workflows.

In this article, let’s understand what ERP is, Custom ERP Software Development, its benefits for different businesses, how to develop such software, development cost, and much more.

What is ERP Software?

ERP software is a tool for enterprise resource planning that helps businesses to handle and manage several processes & components. These include marketing, sales, human resources, inventory, finances, and much more.

Businesses must choose an ERP software that can be customized per business requirements and strategies. This is when the software can be used most purposefully.

A customizable ERP software can be modified to improve existing features, add new features and options, be configured to integrate third-party solutions and be made more powerful by adding task management processes.

Modern ERP tools are powered by the latest technologies and methodologies, such as cloud computing, artificial intelligence (AI), and machine learning (ML). These bring more innovation to the business processes & planning while enabling business intelligence.

What is Odoo ERP?

Odoo is a leading platform for ERP and CRM that came into existence in 2005. It is a highly customizable software with several business-specific modules for eCommerce, sales and marketing, HRMS, customer relationship management, and much more.

It has an app store that allows businesses to integrate and manage nearly 14,000 third-party applications and plugins. Based on requirements, the right apps can be integrated and used.

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An open-source platform, Odoo has numerous benefits. It is flexible, and scalable, comes with ready-made apps, is easy to use, is up-to-date with the latest technological advancements, is highly modular, and can be easily integrated with more third-party apps.

Odoo ERP is used by businesses across various industries, including manufacturing, distribution, retailing, marketing, training, consultancy, IT, accounting, and more.

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What are the Benefits of custom ERP Software development?

There are plenty of reasons to use ERP customization software for businesses. Below, we have listed the primary ones:

Business Intelligence (BI): When BI and ERP are brought together, it can do wonders for a business. Primarily, it will enhance business predictions, save time for teams so that they can focus on important tasks, and show historical insights and predictive analytics, which will help in making better business decisions.

Automation: Using modern technologies like AI, ML, and other automation techniques, ERP systems automate various business processes, including HR management, financial management, customer relationship management, and many more.

Data-driven decisions: Businesses find real-time data analytics and intelligent insights that can be used to make better decisions faster. Data-driven decisions can help in speeding up business growth.

Read Also: How Can Artificial Intelligence Help Improving ERP System

Better collaboration: Since ERP software centralizes an organization’s data that the allowed employees can use, it improves the collaboration between teams. They don’t need to rely on separate databases for distinct departments.

Improved customer experience: Most ERP systems come with CRM integration. Customizable ERP software can be integrated with a CRM platform of choice. It helps in improving the customer experience and satisfaction.

Why Custom ERP Software Development?

A one-sizes-fits-all kind of ERP software doesn’t work for every company. There is a need for custom features and functionalities according to the business needs. Hence, Custom ERP Software Development is in demand today.

Enterprise Resource Planning

Allied Market Research reports that the ERP market around the world is expected to reach $86K million by 2027, from around $39K million in 2019. It is a growth of 9.8% year on year during the forecast period 2020 to 2027.

Over half of the IT decision-makers consider Custom ERP Software Development as an investment priority, along with customer relationship management.

Nearly 50% of businesses plan to adopt or upgrade their ERP systems. Many of them are looking for completely customized solutions.

These are some important statistics showing the growth and importance of enterprise resource planning software for businesses of all sizes. Not every organization can build a dedicated ERP system for themselves because it requires heavy investment and is a complicated process. Upfront costs also discourage them from doing so.

Therefore, they want to adopt pre-built software that allows them to customize every aspect per the business requirements. It is a cost-effective option that can save them a lot of time, boost the productivity of internal teams, help them enable better customer experience, and improve the management of business processes.

Key Features of ERP Software Odoo

  • Modular Architecture: Odoo’s modular structure allows businesses to choose and customize the specific modules they need, making it adaptable for various industries and business sizes.
  • User-Friendly Interface: Odoo provides an intuitive and user-friendly interface that makes it easy for employees to navigate and use the software.
  • Accounting module: Odoo’s accounting module supports core financial functions such as general ledger, accounts payable, accounts receivable, and financial reporting. Odoo ERP also complies with international accounting standards.
  • Inventory Management: Odoo helps businesses manage their inventory efficiently with features for tracking stock levels, managing multiple warehouses, and automating reordering.
  • Sales and Customer Relationship Management (CRM): Odoo offers a CRM module for managing leads, opportunities, and customer communications. It integrates seamlessly with sales order processing.
  • Purchasing: The purchasing module allows businesses to manage supplier relationships, generate purchase orders, and track vendor performance.
  • Human Resources (HR): Odoo includes HR management features for employee information, time tracking, payroll processing, and leave management.
  • Manufacturing: For manufacturing businesses, Odoo provides features for bill of materials, work centers, production planning, and quality control.
  • eCommerce Integration: Odoo can be integrated with eCommerce platforms, allowing businesses to manage online sales and synchronize data with the ERP system.
  • Website Builder: Odoo includes a website builder that enables businesses to create and manage their websites, online stores, and blogs.
  • Document Management: Odoo’s document management system allows users to store and organize documents, making managing files and attachments related to different business processes easier.
  • Project Management: Odoo supports project planning, tracking, and collaboration, allowing teams to manage projects, allocate resources, and track project progress.
  • Marketing Automation: The software includes tools for marketing automation, email marketing, and campaign management, helping businesses engage with customers and prospects.
  • Reporting and Analytics: Odoo provides reporting tools and analytics to help businesses gain insights into their operations and make data-driven decisions.
  • Integration: Odoo can be integrated with various third-party applications and services, making it a versatile solution for businesses that need to connect with other software systems.
  • Multi-Language and Multi-Currency Support: Odoo ERP offers support for multiple languages and currencies, making it suitable for businesses with international operations.
  • Community and Enterprise Editions: Odoo comes in both a free, open-source community edition and a paid enterprise edition with additional features and support.
  • Mobile Accessibility: Odoo offers mobile apps that allow users to access and manage their business data on the go.

How to Develop Custom ERP Software Like Odoo?

If you are looking to create a custom ERP software that can be customized according to the requirements of a business, then follow the steps mentioned below. It requires a consolidated strategy to develop such software.

Develop ERP Software Like Odoo

Define Needs & Expectations

To start with, you should be clear about the expectations from the software, as well as what business needs it should fulfill for an organization.

You need to understand that it will be a heavy investment idea and can’t be opted for just like that. Some businesses choose to have dedicated ERP software for their organization, whereas others develop it for other businesses. Regardless of the business model, you must make wise decisions right from the beginning.

It would be great to discuss this with the IT teams and stakeholders before you start executing the mobile app development plan. The expectations and needs you set must be realistic and achievable.

Do Market Research

Researching the market is crucial to understanding what your target audience is looking for in custom ERP software. What are their challenges? Who are the current top competitors in the market? How can you address the challenges while keeping in mind the competitors?

You will be able to find answers to all such questions when you do thorough research on the market of your target audience. Businesses are choosy and selective when it comes to adopting a new ERP tool. You need to consider every single point a business can think of while onboarding such software.

Choose Features & Integrations

After doing the market research, you will have a clear idea about the needs of your audience. Based on that, you should finalize the key features to add to the software, along with the popular integrations in demand.

For instance, businesses want a unified view of the operational, financial, and business data. On that front, you should have all the essential integrations in place.

Key features to include in an ERP system include reporting, data analysis, smart insights, business intelligence capabilities, accounting, financial management, CRM, sales & marketing capabilities, etc.

In addition, you need to leave room for the clients to customize the software as per their requirements. They should be able to add more integrations, expand features, and make the most out of the software.

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Finalize Design & Components

Let’s move on to the technical section of the ERP customization software development. The first important step here is to explore the top competitor tools to understand their components and design.

You must create a full blueprint showing how your ERP software will be designed and developed. Since this software will be used by various departments in an organization, it makes sense to meet with other teams to know exactly what they expect in specific components.

Document the processes and components suggested by the teams. Here, you can also learn about more integrations and features to add to the system.

Use Right Platform & Technologies

Developing a robust enterprise resource planning app or software requires the use of the right tech stack, tools, and platforms. To ensure that your clients or your teams get the best experience, the platforms and technologies used for the development play a vital role.

For instance, you can host your software or app on web hosting, cloud, or on a local server. Cloud is a scalable and more secure option as compared to other hosting solutions.

In terms of the programming language used, JavaScript is a universal language for the front end, whereas Node.js is great for the back end. You can opt for the language that you believe will be the best for your platform.

In addition, the database can be relational or non-relational. SQL databases are good for small businesses, but NoSQL and non-relational databases are good fit for complex infrastructures in large businesses.

Begin Wireframing

Wireframing is the process of creating overviews of the elements in the product, forming the structure, and drawing sketches of expected designs. It will be done based on the needs of the users and businesses.

The software you develop can be web-based or client/server-based. Web-based ERP systems will run in a browser, whereas the client-server-based ERP system will run locally on a network of desktops.

At this stage, you also have to define the modules required in the application, such as CRM, finance management, HRMS, etc. Furthermore, define the timeframe to complete the project so the development lifecycle doesn’t get stretched unnecessarily.

Custom ERP Software Development Like Odoo

Development and testing of ERP software Like Odoo

Do you have a team of in-house developers and QA testers to build the software, or do you want to outsource it to an app development company?

If you are outsourcing it, then choose the best mobile app development team for your project. The company you choose should have expertise in developing such software and applications so that you get the final product as expected.

Read Also: Functions & Role of Inventory Management System in Warehouse

Once the development is done, it will go through a testing phase where the QA teams will find and fix the potential bugs and flaws. It will make the system work efficiently and seamlessly for users. While outsourcing it, look for a company that can handle the software’s development and testing.

Moreover, if you want your project to have the power of modern technologies like AI and ML, ask whether they have experience working on such technologies.

Deployment and Release

Once the development and testing are done, it is time to deploy the software to make it available for users. It is the final stage where you can release it initially for selected businesses and ask them to try it. They can share the experience with you. If further enhancements are needed, keep the developers ready to do so. If they cannot customize it as per their needs, further modifications will be required.  Before making it publicly available, these steps are vital for success.

Custom ERP Software like Odoo – Development Cost

The final question is how much does developing an ERP customization software cost?

The final cost depends on a wide range of factors. These factors will be the complexity of the software, experience of the software development team, region of the mobile app development company you choose, testing, maintenance, UI/UX design, tech stack, level of integrations and customizations, etc.

On average, the development cost of ERP Software Like Odoo will be somewhere between $100K and $250K. Some companies may promise a lower cost, but it would be better to trust a reliable company over cheaper options.

Wrapping Up:

This was all about the development of a custom ERP software like Odoo. This is critical software that requires proper planning, structure, coordination between different teams, and hiring software developers to create an excellent product. The most important thing that matters here is that the level of customization offered to businesses must be high so that they don’t get stuck anywhere.

Have any queries related to Custom ERP Software like Odoo? Write in the comments or connect with our team.

FAQ – Custom ERP Software Like Odoo

What is Odoo ERP?

Odoo ERP is an open-source Enterprise Resource Planning (ERP) software suite that provides a wide range of integrated business applications for managing various aspects of an organization, including accounting, inventory, sales, human resources, and more. It offers flexibility, customization, and scalability to meet the diverse needs of businesses across different industries.

What is ERP in software development?

ERP stands for Enterprise Resource Planning, ERP refers to a comprehensive software system that integrates and manages various core business functions and processes within an organization. These functions can include accounting, human resources, inventory management, sales, purchasing, and more.

What programming language is used for ERP software development?

The choice of programming language for ERP software development can vary, but some commonly used languages and technologies include Python, Java, C#, and JavaScript.

How much does it cost to develop ERP Software like Odoo?

The cost of developing ERP software, such as Odoo, can vary greatly depending on a number of factors, including the complexity of the project, the number of features and modules, the location and experience of the development team, and whether you decide to construct the software from the ground up or modify an already-existing ERP platform. Developing an ERP software like odoo can cost around $150K-$250K.

Odoo like ERP Software Development
Technical Writer

Mike Brin, a tech-savvy writer with a background in Information Technology, is passionate about technology's transformative power. His engaging tech blog shows his deep knowledge and enthusiasm for digital innovations.

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