Odoo vs Exact Online: A comprehensive comparison for SMEs

Accounting may not be the most glamorous aspect of running a business, but it's undeniably crucial for success. As businesses grow, accountants become invaluable resources, deeply familiar with the organisation's financial health. To manage finances effectively, accountants require suitable tools and robust reporting functions. However, with an overwhelming abundance of accounting software options available, finding the right choice can be a daunting task.

In this blog, we make the comparison between two prominent accounting software solutions: Odoo and Exact Online. By exploring their functionality and pricing model, we hope to help you make an informed decision when considering the best fit for your business needs.

About Exact Online

Exact Online is a cloud-based accounting and business management software tailored to support small and medium-sized businesses (SMEs), across various industries and regions. With seamless integration capabilities with third-party applications and services, such as e-commerce platforms, payment gateways, and CRM systems, Exact Online empowers businesses to extend its functionality and create a unified tech stack.

About Odoo

Odoo’s open-source ERP system offers a wide range of applications like CRM, accounting, HR, and inventory management. Its intuitive interface ensures a smooth learning curve, saving valuable time and resources. The modular approach lets businesses pick and choose the right applications, avoiding unnecessary expenses. The accounting module is a standout, covering everything from basic accounting to advanced reporting and bank reconciliation. Odoo's API integration seamlessly connects with other apps to create a unified ecosystem. Being open-source means unmatched customisation possibilities and access to a lively developer community. Regular updates keep Odoo relevant and versatile, making it a dependable choice for efficient business operations. ​

Feature comparison

When placing Odoo and Exact Online side by side, we explore various domains encompassing Sales, CRM, Offers & Invoices, Marketing, Stock & ERP, Procurement, Project Management, Staff Management & UX/UI. These categories encompass almost everything an SME might need to manage, develop, and grow its business.

Odoo: An all-in-one business management solution 
  • Features: Odoo's extensive range of applications includes accounting, CRM, inventory, HR, project management, and more, offering a holistic approach to business management.
  • Customisation: Highly customisable, Odoo empowers users to tailor the system to meet their specific business requirements. A vast selection of modules can be added or removed as needed. 
  • Open-source: With an open-source edition, Odoo allows users to access and modify the source code, providing flexibility for advanced users and developers. 
  • User-friendly interface: Boasting an intuitive and user-friendly interface, Odoo makes it relatively easy for users to navigate and adopt the software, accelerating the onboarding process. 
Exact Online: Specialised financial management with industry solutions
  • Features: Exact Online primarily focuses on financial management, covering accounting, invoicing, banking, and functionalities. 
  • Industry-specific solutions: Exact Online offers tailored solutions for various sectors, such as manufacturing, wholesale, and professional services, catering to the specific needs of businesses in these industries.
  • Integration: With seamless integration capabilities, Exact Online allows users to connect with other business tools, expanding its functionality and streamlining processes.
  •  Scalability: Designed to accommodate both small businesses and larger enterprises, Exact Online adapts to companies of varying sizes and needs.

Odoo and Exact Online cater to different business requirements and priorities. Odoo stands out as a comprehensive, all-in-one business management solution with extensive customisation and integration options, making it ideal for businesses seeking a suite of applications tailored to their unique needs. On the other hand, Exact Online focuses on specialised financial management, offering industry-specific solutions, making it a potential choice for businesses looking for targeted functionalities in specific sectors.

When considering Odoo versus Exact Online, it's essential to evaluate your business's specific needs, size, and industry requirements. By doing so, you can make an informed decision and select the best-fit solution that will empower your organization to thrive in the competitive market landscape. Remember, a well-chosen accounting software is an investment that can significantly impact your business's success and growth.

Interested in learning more about Odoo's accounting features? ​

Schedule your appointment, and we'll gladly provide you with all the information you need!

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