In Odoo 16, it is possible to set up multi-company operations for businesses that have multiple companies. This allows business to manage the different companies, their accounts, and their financial transactions in one single installation. It can also be used to manage shared resources such as users, products, and partners. This feature allows businesses to have complete visibility into their operations across multiple companies. You can view the consolidated data of all companies in a single place, along with their respective data. Companies can be linked to each other, and data can be shared among them. This will be very beneficial to keep their books and accounts in separate ledgers and record transactions accurately.
You can easily manage the operations of multiple companies from the main platform. These companies could be the branches or the partners of the main company, and all these types of companies can be successfully operated from a single platform. It is also allowed to build an eCommerce website and the company website for each of the companies, and it can be independently handled with the same single Odoo system that you possess. This feature is very advantageous for the current scenario businesses. Let us point out some benefits of the multi-company operation.
- Improved efficiency and cost saving: Multi-company operations help businesses to streamline and standardize their operations across multiple companies, leading to improved efficiency and cost saving.
- Centralized data management: By managing data from all companies in one centralized system, it becomes easier to access, share, and analyze data from any company across the organization.
- Improved collaboration and communication: With a centralized system, it is easier for managers and employees to communicate and collaborate between different companies.
- Improved customer service: Multi-company operations can help improve customer service by allowing customers to access all of the company's services and products in one place.
- Simplified financial reporting: With multi-company operations, financial reporting is simplified by being able to consolidate financial data from multiple companies into one report.
- Optimize resources by sharing resources across multiple companies.
- Improved visibility of performance and financials across multiple companies.
- Improved visibility of performance and financials across multiple companies.
- Automatically update and synchronize information across multiple companies.
- Enhance security by providing different user access and control levels.
In addition to all these benefits, the products that you were configured in one company can be successfully identified in other companies, and they can be sold in other companies by setting the product to be obtainable in every company and websites of each company while configuring it. This facility is applicable for all product types, such as services, subscription-based products, rental products, and more. Likewise, as we mentioned above, this feature allows you to generate separate reports and synchronized reports in accordance with each of the company operations and requirements with Odoo. In association with the Accounting aspects, proper supervision of each of the companies with complete access to financial management is also possible. The system will provide distinct authorization for each employee and user of this platform based on their associated company. This will be very effective for ensuring that each and every operation in the company is performed by the responsible employees or the users of it in the Odoo platform.
If you are established multiple companies of operations in your Odoo system, you can easily access all of those in the dashboard itself, as shown in the following screenshot.
When you click on the Company name displayed on the main dashboard, you will depict a dropdown where you can view all the companies you defined using this platform. You can readily switch from your current company to the next by offering a single click on the required company. This easiest method will help you to manage the operations of multiple companies immediately, and all the responsible users and the management can move to another company by choosing the respective one, and they can operate in real-time.
So far, we have been discussing one of the significant operational tools available in the Odoo platform, which is Multi-company management. Now we can switch to the Intercompany transfer operations and its management in Odoo in the following section.
The Intercompany Transfer operations can be conducted effectively within partner companies with Odoo in the next section.