Odoo version 16 is already here with the most awaited and advanced features for better and more efficient business management. Here's an article with a complete overview of the advanced features of Odoo 16 shared by an expert in Odoo development.

Over the years, every single version of Odoo ERP software has added a wide range of brand-new and upgraded features to let businesses manage their processes more seamlessly and in a better way. To accomplish different industrial operations, the ERP constantly aims to enhance its internal features, modules and applications. Consequently, end users also keep on getting significant advantages by migrating to newer versions every year. After all, whenever a new version of Odoo is designed, user experience is always kept first on the priority list, along with simplified functionalities and improved modules and features. Odoo 16 which was released in October 2022, boasts plenty of improvements like application performance, better user experience, improved operating speed, etc. Odoo 16 is the latest version of the ERP and is the fastest, most user-friendly, most efficient, and most advanced to date.

Here's the checklist of what Odoo 16 has shared by an expert in Odoo development and implementation.

New App Release - The Knowledge App

The new Knowledge App ensures to let organisations gather and capture the required knowledge and then document it to enable the authorised users to check the -

• Product or service descriptions
• Manage Standard Operating Procedures or SOP across the organisation
• Product or service sales pitch

The new Knowledge App offers a new way to businesses to capture the best practices and valuable knowledge to train or organise the new workforce that will ultimately result in increased sales and efficiency.

Accounting Module:

Odoo 16's Accounting module has come up with tons of improved features and functionalities. Additionally, instructions on how to create an invoice are also provided in the new Accounting module of version 16, that's something organisations must take advantage of for more efficient, effortless, and faster accounting management. The new accounting Module ensures to ease out things like -

• The validation process can be made considerably faster by generating Instrastat reports.
• Creating bills for customers or clients using a unique OCR option.
• Improved user experience, easy, precise, and quick cancellations in the asset improvement module.
• For bills and sales, a credit limit warning.
• Unique features like accounting reports, new bank reconciliation, multi-currency matching, and more.
• Improved Journal audit reports with VAT information and better readability.

Business benefits of the new Accounting module include fewer operational difficulties while managing the accounting tasks, precise audit reports, speedy invoice creation, and increased efficiency.

Marketing Module:

With the new marketing module of Odoo 16, users will no longer have to deal with the hassles of integrations while using Odoo ERP 16 support for altering the global features of the email list at once. This new and improved marketing module ensures to enable customers to create original and fresh email templates easily from the pre-existing templates created for easy and efficient email marketing.

In addition to these, assessing email addresses along with the other contact details and data import can be simpler with this module. Re-tweeting previous tweets is also allowed by the module and this increases the social media visibility of the users as well.

Business benefits of the module are increased productivity, time-savings, better social media visibility, and reduced operational expenses.

HR and Sign Modules:

The HR and Sign Modules of Odoo ERP 16 have come up with updates like:

• Checking time-off, allocations, and leave days
• There's a tool termed as the 'Stress Day' that lists out the top-priority tasks on an everyday basis.
• Alter or change the allocated roles of the employees in response to requests.
• There's a new feature for refusing to sign.
• Using the data and reports, it is now pretty easy to evaluate the performance and abilities of an employee on a monthly basis.

Business benefits of the module include reduced resource allocation gaps, more effective project planning, improved leave planning, tracking the performance of the employees, and superior resource management.

MRP:

The MRP module of Odoo 16 is equipped with features like:

• Users can divide and combine all manufacturing orders for a sought-after and more efficient process.
• Your clients can use the given URL now for checking the progress of the sales orders.
• The launch of the subcontracting portal has made it possible to delegate production registration to the subcontractors.

The business benefits of the new MRP module are a time-saving strategy, increased customer satisfaction, and simplified manufacturing procedures.

Inventory Module:

Right from the addition of new functionalities to tons of enhancements, Odoo ERP 16's inventory module has brought plenty of new and improved features like:

• Improved postcode filter
• Pick and count
• Force scan functionality
• Updated software for estimating and calculating the visibility days that are still remaining to replenish.
• Improved shipping procedures and automated batching.
• Instead of cancelling an order or product every time the product is in the warehouse is generally shown as 'out of stock' and enterprises can then have alternatives for initiating the backorder and getting the product from the main supplier. These kinds of orders can be managed automatically by the Odoo ERP version 16's support, without any confusion.

Business benefits of the new inventory module are higher efficiency, less complicated manufacture, transportation of goods, enhanced inventory management, and simpler scan process.

Purchase module:

In the purchase module of Odoo version 16, you can find -

• A 'call for tender' option for enhanced performance.
• Satisfying commercial standards are there for shipping insurance.
• Invoices for commercial usage as per the industry norms.
• Setting up and efficient management of coupons, discount codes, and sales promotions.
• Real-time monitoring of receipts for managing purchase orders, and dispatch of sales.

The new and improved Purchase module in Odoo 16 ensures better performance, improved user experience, and secure operations.

Website Module:

Some of the features of Odoo 16's Website module are:

• Users will now just need to use a single view for managing both the back-end and front-end of the website.
• Users will have the access to tons of tools for customising the website as per the requirements.
• The web pages will have more filtering and grouping options.
• While configuring the web pages, users will not have to refresh the pages.

This new website module offers benefits like numerous customisation options, interesting designs, and time-saving tools.

Improved eCommerce:

Many eCommerce Applications have been improved and these improved apps now offer features and functionalities that the ERP's previous versions lacked when using only the native apps. The B2B businesses will now enjoy -

• Authorised goods and contract pricing
• Encourage catalogue retailers
• The pricing of the products depends on demand
• Display of the product prices only to the logged-in users
• Request a price

Advantages of this module include bulk photo upload, UOM display, price comparison, quicker online checkout, and after uploading, change the order of the images. Odoo 16's eCommerce module also offers functionalities like one-click checkout, more and safer payment options, and more.

Sales reports in different currencies:

All sales orders can be now automatically revalued based on the daily exchange rates and that too in multiple currencies.

Hence, now it can be concluded that the improved features and modules in Odoo 16 can ensure higher returns, an updated and more simplified UI, more productivity, and better business management.

Alex Forsyth is an expert Odoo consultant associated with an award-winning Odoo development and implementation company in Australia, Envertis Software Solutions. The author has written this article to let you know the improvements and advanced features and modules in Odoo 16, the latest and the most upgraded version of the ERP.