A new software solution has been developed and launched into the market, designed to support the business growth Small and Medium Enterprises (SMEs) and to revolutionise the way small businesses are done in Nigeria.
The solution, known as OdooSME, was developed by Matt O’ Bell Limited, with all the features of Enterprise Resource Planning (ERP), but at reduced price of N500 per user per month for each module in a particular plan.
Announcing the solution at a media launch in Lagos recently, the Managing Director and Chief Executive of Matt O’ Bell Ltd, Mr. Dare Ojo-Bello, said: “OdooSME is a robust ERP software developed for SMEs. It is simply a business application that allows SMEs to run their businesses more transparently, efficiently and ultimately helping them improve productivity and profitability.”
OdooSME was developed from Odoo software application that was initiated over 11 years ago for big corporate organisations, with the aim of providing SMEs with the same technology tools that has helped the efficiency and productivity of big companies across the world.
ERP solution is a single database that integrates all the functions and strategic business units of an organisation. It helps in better coordination among entities, business units and operations, administration and enforcement of control and business processes, delivery of accurate and real time financial reports and much more. It is on this same ERP platform that OdooSME was established, to provide the same features for the smooth running of SME business in Nigeria, but at a much discounted rate.
OdooSME is a suit of Odoo modules delivered as a Subscription-as-a-Service (SaaS) solution to SMEs. Modules available include: Accounting, Budgeting, Fixed Assets, Account Receivable, Account Payable, General Ledger, Sales, Purchase, Inventory, CRM, POS, HR/Payroll, Project Management, Manufacturing, e-commerce, Website Builder, Document Management, Instant Messaging, among others.
“By integrating all of these modules into single software, OdooSME is more of a communication tool amongst users,” Ojo-Bello said.
Some of the features of OdooSME, include cutting out paperwork, helping to avoid re-encoding of transactions and allows units, departments and entities share information that can help better decision making.
Furthermore, OdooSME will help SMEs reduce the friction with tax authorities since the software can generate accurate accounts and help establish the basis for tax assessments.
All of these put together will no doubt translate into improved productivity and profitability for the organisation, Ojo-Bello said.
OdooSME was conceived in order to remove the barrier that had made it almost impossible for very small organisations to adopt Odoo for their businesses. So instead of thousands of dollars in acquisition cost and the additional challenge of an unstable local currency (Naira), the company decided to offer OdooSME as a subscription service, convenient and ridiculously affordable. It has taken nine months to develop the platform for SMEs and it was officially launched on the 6th of June.
OdooSME cuts out paperwork, helps to avoid re-encoding of transactions and allows units, departments and entities share information that can help better decision making. All of these put together will no doubt translate into improved productivity and profitability for the organisation.
By integrating all of these modules into single software, OdooSME is more of a communication tool among users.
SMEs want to pay only for what they use. So instead of forcing features that they do not need, we have developed flexible plan options that allows the SMEs to select a plan that fits their kind of business. As the world becomes a global village, the traditional brick and mortar shops, businesses and markets are now being complemented by online markets using e-commerce, Ojo-Bello said.
He explained that the SME business is not different from the business of large organisations and even multinationals. If big companies leverage on technology for efficiency and profitability, SMEs should not be different, he added.