Odoo Forecast 2023

The past few years have brought numerous challenges to many companies, forcing them to adjust to tough conditions as fast as possible. And without a good ERP system like Odoo, the mission would be nearly impossible. 

Odoo keeps evolving with current demands from the marketplace, adopting innovative tools, apps, and technologies to become more sophisticated and user-friendly than ever before. And in this article, we’re going to tell you about the latest Odoo upgrades and trends that are expected in 2023. Keep on reading.

2022/2023 ERP Market Overview. 

First things first, we’d like to tell you about the situation in the ERP software market in general. Now, we can see an increasing demand for smart ERP solutions – ERP software marketing is expected to grow and is predicted to hit over $97 billion in the next couple of years (that’s almost a 3-billion increase compared even to pre-pandemic 2018).

With that, it’s worth emphasizing that the post-pandemic market has become completely different. Among the main challenges the companies need to overcome nowadays, we can highlight increasing customer demands but limited resources, tighter timelines, and more issues. And with new problems, come new ERP software trends. 

To stay ahead of the competition, you may want to check some of the key trends depicted below:

What does it mean for Odoo? A short answer – Odoo will continue to advance to meet the growing business demands. And whilst earlier Odoo versions were designed mainly for small-scale enterprises, Odoo is now the keystone of innovation in companies of any size.

A Few Words About Odoo’s Evolution 

The Odoo voyage started when Fabien Pinckaers created a small ERP solution (called Tiny Enterprise resources planning) in 2005. Since its release, Odoo has been one of the fastest-growing ERP systems that today offers about 14,000 base and custom modules, including Accounting, HR, CRM, Manufacturing, and other apps. With that, the paid Odoo Enterprise version is 3x more affordable than well-known competitors like SAP and Microsoft, whereas the Odoo Community edition is completely free of charge. No wonder, about 7 million users are actively deploying Odoo in 2022, and this number seems to grow in 2023. What’s the catch? 

Top Odoo Benefits

Odoo is a business software full of different features, allowing users to build websites and manage all their business operations using the cloud. It has a very user-friendly drag-and-drop interface making it easy to manage loads of content. The key Odoo apps include Sales, Finance, Operations, Manufacturing, Human Resources, Communication modules, and the like. Furthermore, being an open-sourced software, Odoo allows companies to develop additional applications based on their unique requirements. Actually, it’s Odoo’s extensible architecture that acts as a boon to many organizations. 

Odoo ERP also has the ability to integrate with various existing systems or e-commerce platforms, as well as to support different gateways including PayPal, Buckaroo, and Stripe.

What Happened to Odoo in 2022?

This year, the Odoo team seriously focused on advancing existing features and developing the new ones that Odoo clients requested the most. Also, Odoo’s latest 16 version got more business intelligence, increased overall performance, brand new reporting for stock/MRP, refactored dashboards, a completely front-end website app, and many more. The year 2022 also brought a new Knowledge app to help companies manage and share knowledge within their departments. And even though the company hasn’t announced the date of the Odoo 17 release and its new features, we bet we see new modules in 2023 too.

Fresh Statistics

Breaking news! Odoo has finally got the leading position in ERP for SMEs race (according to the latest report by Google Trends). Actually, Odoo has been head-to-head with its hottest competitors, Netsuite and Microsoft Dynamics 365, for a few years but 2022 became a game-changer. And, we believe that Odoo is going to rise in 2023 as well.

Having said that, if we compare Odoo with such ERP giants as SAP and Oracle systems, they are still more popular since SAP and Oracle solutions are faster and more functional. But being an open-source system, Odoo definitely has advantages in terms of scalability and flexibility. SAP, Oracle, and other similar ERP systems are not modifiable, so companies need to adjust their business processes to this type of software, not vice versa. And as you have probably guessed, the situation is completely different with Odoo – it’s a super-flexible ERP software that can be customized to any business need by a skilled developer.

What Updates to Expect in 2023

Considering Odoo’s evolution, we predict that the performance of Odoo will continue to improve across the whole tech stack. The new version of the platform will most likely boast a further increase in performance and scalability – the aspects that are particularly important for medium and large businesses.

In addition, we believe that Odoo specialists will do their best to make Manufacturing and Inventory processes smoother, thus, continuing to simplify things for businesses. Probably, some of the main apps will be fully revamped, becoming much easier to navigate. And, of course, we believe we see some new interesting modules among other Odoo expected features.

Upcoming Offline Events

Just in case you have an opportunity to visit London in January, you can’t miss Odoo Roadshow which is going to take place on Tuesday, 17 January 2023. It’s a unique event that combines a live demo and a Q&A to help you discover all the benefits and trends of Odoo. The conference will be hosted by Odoo experts in English and will be followed by an enjoyable networking session. 

Final Words

It’s easy to see that each year Odoo’s popularity and performance are steadily growing. Ultimately, Odoo ERP is evolving faster than any other propriety ERP due to its fantastic features and open-source nature. The future of Odoo is really bright, so if you’d like to make the future of your business bright too, just contact us. We can help you implement Odoo, provide support, and choose the best options for your business needs. Let’s start the new year right!