For enterprises with several companies, Odoo 17 allows you to set up multi-company operations. This enables businesses to handle many organizations, accounts, and financial activities from a single installation. It may also be used for the management of resources that are shared, including customers, partners, and users. Businesses are now able to see every aspect of their operations across all of their subsidiaries thanks to this functionality. In one location, you can access both the individual data of each company and their combined data. Data sharing between businesses is possible when they are connected to one another. This will help them to precisely record transactions and manage their books and accounts in separate ledgers.
From the main platform, you can effortlessly oversee the activities of several firms. These companies could be the partners or the subsidiaries of the primary business, and all of these models can be effectively run from a single platform. It is also possible to create an eCommerce website and a business website for each of the firms, which can be managed independently using the same Odoo system. Businesses operating in the present environment will benefit greatly from this capability. Let's discuss a few advantages of the multi-company business.
- Improved efficiency and cost savings are made possible by multi-company operations, which assist firms to standardize and simplify their processes across many enterprises.
- Centralized data management makes it simpler to access, exchange, and analyze data from any firm throughout the organization by managing data from all companies in a single, centralized system.
- Improved cooperation and communication: A centralized system makes it easier for managers and workers to communicate and collaborate across organizations.
- Improved customer service: Multi-company operations can assist in enhancing customer service by allowing consumers to access all of the company's services and products in one location.
- Simplified financial reporting: With multi-company operations, financial reporting is sped up by the ability to combine financial information from various businesses into a single report.
- Share resources across several businesses to better utilize them.
- Improved visibility of performance and financials across many firms.
- Automatically update and synchronize data across numerous firms.
- Increase security by allowing several degrees of user access and management.
In addition to all these benefits, you can effectively identify and sell the items you set up in one business in others by configuring the product to be available on the websites of all other companies as well as on your own. This feature is available for all product kinds, including services, subscription-based items, rental products, and others. Similarly, as previously said, this functionality allows you to produce distinct reports and synchronized reports with Odoo in line with each of the corporate operations and requirements. In addition to accounting aspects, appropriate oversight of each company with full access to financial management is also available. The system will enable different authorisations for each employee and user of this platform depending on their affiliated firm. This would be highly efficient in guaranteeing that every single task in the business is carried out by the accountable staff members or users of the Odoo platform.
If you've set up many businesses of operations in your Odoo system, you may quickly access them all from the dashboard itself, as the following picture demonstrates.
When you click on the Company name displayed on the main dashboard, a menu will appear displaying all the firms you defined using this platform. You may easily go from one firm to the next by simply clicking on the appropriate company once. This simplest technique will assist in quickly managing the operations of numerous firms, and all responsible users and management may migrate to another company by selecting the appropriate one, and they can function in real-time.
So far, we've spoken about Multi-company management, one of the important operational tools offered by the Odoo platform. We may now move on to the activities of intercompany transfers and their administration in Odoo in the next section.
In the next section, you will learn how to properly handle Intercompany Transfer procedures within partner organizations using Odoo.