Odoo, from the Belgium-headquartered multinational company of the same name, is a suite of business applications for managing the sales pipeline. It also comprises a PoS and inventory management modules, scaling to a warehouse or retail management solution.
$31.10
per month per user
ReconNET by Trintech
Score9 out of 10
N/A
ReconNET is a corporate performance management solution from Trintech. ReconNET automates account reconciliation, including high-volume reconciliation, with the goal of helping users tighten controls, reduce risk and increase process efficiency.
N/A
Pricing
Odoo
ReconNET by Trintech
Editions & Modules
Standard
$31.10
per month per user
Custom
$46.70
per month per user
No answers on this topic
Offerings
Pricing Offerings
Odoo
ReconNET by Trintech
Free Trial
Yes
No
Free/Freemium Version
Yes
No
Premium Consulting/Integration Services
Yes
No
Entry-level Setup Fee
-$49,321,250 per app/ per user/ per month
No setup fee
Additional Details
A discount is offered for new users for the first 12 months of use for the initial users purchased. ($24.90 instead of $31.10 for Standard)
It is well suited for inventory tracking, shipping and sales work flows. While some customization is needed to make it functional, if done correctly Odoo can serves as a powerful one stop shop for all of a businesses needs. The ease of customization for email templates, both for sales communications and marketing outreach leaves something to be desired. Perhaps our team hasn't explored this fully enough. I have personally found it intimidating in trying to construct a news letter using the email marketing module
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
It is well suited in scenarios where customers have tremendous volumes of data to deal with and where the reconciliation of the information is of paramount importance to businesses and stakeholders. We use it primarily for balance sheet reconciliations that come with features, such as exception management, which is great for focusing on the few that matter the most at the end of the day.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
The creation of products is extremely simple, I like that it does not complicate you to put a lot of detail, of course if you want to put more detailed information later it allows you to do it without problems
The fact that I can manage my inventory of my warehouse is very convenient, I only generate my stock report of the products we have in stock and taking inventory is easier
The management of opportunities in the CRM is also great, because the guys from the sales department generate their opportunity, place what their client is requiring and we, the logisticians, can automatically generate the quote for what they are requesting, and from there they can only download their quote and send it to their clients.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
The ReconNET tool has a great audit-trial system that captures every detail in the life of a record and helps eliminate any manual intervention. It's fully SOX Compliant, and helps track any changes in the data from an audit perspective.
The automation helps us focus entirely on the exceptions, which helps eliminate attention from the mundane tasks to areas with potential problems.
Exception management and automated posting to the GL are great features that help streamline many of the routine, mundane, and yet time-consuming activities, freeing up time to focus on issues at hand.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Customer service is nonexistent. You will need a 3rd party to assist you.
The system has an open app for integrating with other programs. These are developed by third parties and can be hit or miss in functionality.
The system offers great flexibility; however, it is too much and requires coding. For example, changing a Sales order PDF requires coding to modify the document.
Initial implementation is clunky and seems to require a 3rd party just for setup.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
It takes a little bit of practice to get the hang of the tool to set up the reconciliations, but its not necessarily a drawback, since this applies to every other automation tool out there. However, once someone gets the hang of it, it's pretty user-friendly to run it on a daily basis.
Since automatons can only be built on a set logic, at times certain items that show up as exceptions are not truly a cause of concern. However, since it's always better to flag too many potential exceptions than too few, it's not a true drawback.
It has quite a few features, such as multi-currency reconciliation, bank deposits, disbursements, automated postings to G/L, etc. which could be of great value for various requirements for clients. It is especially useful where volumes of data are too large to deal with. The uses might not be phenomenal for low volume reconciliation requirements.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Once you complete the training with Odoo, you have a great grasp of how the system works, and most every feature is intuitive- There is rarely a task within Odoo that I get frustrated trying to figure out- I can typically look through the system and find what I need to do, and if I ever do need support, the Odoo Support team is excellent
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Easy - there is NO SUPPORT (like in ABSOLUTELY NOTHING!!!!!!!). Even for legally mandatory requirements where the system MUST work, they will gladly take a month to get back to you with a NON-answer. We couldn't even get our bank statements correctly into Odoo for 2 months - leading to no reconciliation and the company accounts were a mess (still are!!) as a result - Completely irresponsible. Have not EVEN had an apology from Odoo - they couldn't care less !!
We decided to go with Odoo over Netsuite due to a few factors. Price was a big reason why, Netsuite is the most expensive ERP we vetted. I also did not have a great experience with Netsuite at my last job. I was on the roll out team and it did not work as promised for POS, inventory managing or reporting, it crashed constantly in the middle of using it. Just over all very poor. Considering it is owned by Oracle and the most expensive, you would think it would be able to function on some sort of base level. That company ended up terminating their contract with Netsuite early and going with a different company.
We don't have crashing or error issues. I can complete receives, cycle counts etc and all of my information saves. Visually, Odoo is more satisfying also.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Each automation tool has its own set of features, but the fact that ReconNET is built for reconciliation purposes sets it apart from the rest. The ease of usage once the user gets a hang of it, the extensive audit trial, and the ability to focus on exceptions rather than the necessity to scroll through a bulk of irrelevant information, all provide the key-user with the critical decision-making ability.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
It definitely has a positive impact on ROI with freeing up resource availability and usage on the most pressing tasks at hand. For example, focusing on exceptions rather than reconciling from scratch.
Another positive impact on the ROI can be realized with the detailed audit trials on sensitive information.
Strong Financial Reporting is the backbone of any industry, regardless of the sector it operates in, and having an automated reconciliation tool such as ReconNET helps you attain the key objective of integrity of information in a timely fashion, to support the close process.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
