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By: Cybrosys Technologies

Chile-based Localization in Odoo

Functional Accounting

Chile is a developing Latin American nation and is one among the nations that are thriving towards excellence. Moreover, it's an open economy where more than half of the financial aspects are dependent on international trade. Further meaning is one of the major sectors of establishments in the country they mine for copper, coal, and nitrate. In addition to meaning, manufacturing, as well as agriculture, can be coined as the major sectors of business that follow in Chile. Before moving into the aspects of Odoo let us discuss certain aspects of the economy of Chile.
Economic aspects of Chile
Today Chile's economy has been hit by the aftermath of the coronavirus pandemic still prevailing, which has also disrupted the normal life of the population facing many deaths due to the prevailing pandemic situation. Moreover, as Chileans are hardworking people who usually work 12 hours a day for 6 days a week they will excel back at it. Although the population of the country has increased resulting in a lower GDP rate due to the results of unemployment rates getting higher.
Although the year 2020 has decremented the Chilean economy and has alerted the marketplace a sizable recovery is possible by supportive fiscal and policies of operations in the year 2021. As a matter of fact, from the early day, it can be seen that the market is grasping back its clutch and is striving for excellence. Moreover, economists analyze that the GDP of chile will be expanding by more than 3 percent in the year 2022.
What is Odoo localization?
Before moving into the localization aspects for Chile in Odoo, let's initially understand what is localization in Odoo. The Odoo Platform as you know is the complete business management platform that is capable of running the company operations on all levels of functioning. Moreover, it can be described as the one-stop solution for all the business management aspects in a company. Furthermore, the fully customizable Odoo ERP is capable of undergoing any localization aspect regarding the company and its region or country of options. Asa matter of fact localization is considered as one of the best features of Odoo.
Moreover, the localization aspects of Odoo revolves around the aspects such as modifying the taxes and financial aspects and operating principles of the company based on the region of functioning. In addition, as the odoo platform supports multiple languages of operations they can also be defined to suit the region along with aspects of HR management such as workday, hour, and wage based on the company and the description of the governmental authorities. 
If you need to have a future understanding of why localization one of the best feature of the Odoo ERP read the following blogOdoo Localization - The Best Feature of Odoo
This blog will provide an understanding of how the localization of the odoo platform is down to suit a company operating in Chile.
The Odoo platform has been expanding throughout the year right from its development stages. Today ist stretching out to developing countries that the localization aspects are vital. Here are the aspects in Odoo which you can configure to suit the company operations in Chile based on the market rules and conditions.
With the development of technology and the advancements in the telecommunication aspect in the country, digitalization has become an inevitable part of Chilean business culture. Today the invoices are sent out electronically which is more beneficial to the companies as well as the nations according to SII which is the Chilean Tax System. Let's understand of certain benefits of it before moving onto localization with Odoo:

- The online invoices or the DTEs can be described and verified online.
- Go paperless and reduce the physical storage
- Reduction in stamping fee and reduction in transfer charges and time is taken by them.
- All documents stored digitally eliminating the risk of losing and chances of misplacement.
- Reliable and seedy billing process.

Well, there are some benefits of digitizing the operations of invoice generations and payments in the operations of a business in Chile.
Odoo localization for Chile
Considering the localization of Odoo for the operations in Chile, the accounting aspects of the platform are to be the ones that need to be majorly modified for operations. The Odoo localization for chile based companies majorly focus on the following aspects:
- Financial management palling
- Update taxes of operations
- Draft and configure the fiscal positions.
- Electronic invoicing
- Direct invoices and bills through SII using web services
- Process bills of vendors, accept quotations and process it
- For international business and sales and purchase operations, the exchange rates can be synchronized.
- Can generate 8 column tax financial reports.
These aspects of Odoo localization for business in Chile will be beneficial for the companies. As we understood about the localization aspect of Odoo which is used for functioning your company in Chile now let's move on to learn about the benefits of using Odoo to run a localized business in Chile.
Benefits of using Odoo for Chilean localization in business.
Today various business management solutions offer the type Chile-based localization to run the business. However, here are the aspects which Odoo platform brings into the operation of the companies which is more beneficial than other management solutions:
- The centralized database where SII reports are generated and stored.
- Accept and manage vendor bills directly.
- Vendor bills are created based on the invoices or DTEs received.
- Digitized storage of financial data.
- Compatible with the financial aspects and regulations available in Chile.
These are the reasons for the benefits of using Odoo to run your business in Chile, but not limited to. As Odo is a fully customizable platform the operation can be run with your perspective and the design and development of the platform can suit it accordingly. Moreover, Odoo can be configured to integrate with various third-party devices and applications which are useful in your company operations. If you are looking for Odoo implementation or localization of the platform to suits your operational need drop an inquiry to info@cybrosys.com. we are happy to help you to run your business with Odoo.

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