Extending Odoo with a Comprehensive Budgeting and Forecasting Capability
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Essatto is a budgeting and forecasting software that integrates with Odoo. It was implemented by Global Car Sales, a company that sells cars globally using Odoo. Essatto streamlined Global Car Sales' forecasting processes by capturing forecasts at a more detailed item level, providing historical sales data to salespeople, automatically consolidating submissions, and producing interactive daily/weekly reports. It also enabled powerful budgeting, data analysis, reporting tailored to different user needs, flexibility to changes, and importing data from multiple sources including Odoo.
Extending Odoo with a Comprehensive Budgeting and Forecasting Capability
- 1. Essatto Introduction The Global Car Sales Company • Essatto is a comprehensive budgeting and forecasting solution that is integrated with Odoo • Essatto has been implemented across a diverse range of industries and customers, which include wholesale and distributors, service companies, financial services and manufacturers • Today we are going to use the example of a global car retail business that runs Odoo to demonstrate Essatto’s forecasting capabilities and functionality. Richard Jardine Chief Operating Officer Essatto Software www.essatto.com/essatto-for-odoo
- 2. The Global Car Sales Company Essatto Demo • Global Car Sales is a fictious company that has implemented Odoo v13 and sells cars to businesses in Europe, America and Australia, they have a large sales team in many locations around the globe • Odoo v13 does a great job of managing all their business transactions, however they need a way to analyse historical sales, forecast future sales and analyse data from both internal and external data sources • Management are focused on setting and achieving forecast targets. However, they have challenges with the effort required, timeliness, level of detail, accuracy, data consolidation and the frequency of forecasting and variance analysis
- 3. Essatto streamlined Global Car Sales forecasting processes Forecast process before Essatto Forecast process after Essatto Monthly Weekly Captured at a product category level Captured at the lowest level of detail by item/SKU Only sales dollars are forecasted Quantity and price are forecasted allowing for deeper variance analysis Salespeople must cross check stock level reports in the ERP against the items they are forecasting Salespeople have stock levels and historic sales by item immediately available against the items they are forecasting Many days effort for the planning team to validate and consolidate forecast spreadsheets emailed by salespeople Forecast submissions from salespeople are instantly captured, validated and consolidated Static high level management report pack is prepared monthly Interactive daily, weekly or monthly forecast versus actual reports and dashboards Key man risk and inconsistent forecast detail across sales teams Business rules saved within a consistent “cookie cutter” forecast pack
- 4. Powerful budgeting capability Global Car Sales created budget rules and easily applied these rules to last years figures to produce a budget for the coming year with what-ifs around growth/decline in key business drivers such as expected turnover, seasonality and more… • With Essatto Fast Budgets management can create many what- ifs and quickly build a top down budget with same level of detail as historical data • The value of budgeting at this level of detail becomes apparent when actual versus budget reports are produced and a deeper level of analysis is required
- 5. Managers are engaged with and own the forecast process Global Car Sales implemented “live interactive” Essatto Excel forecast packs for sales managers situated in many locations across Europe, America and Australia Salespeople collaborate to complete their forecasts which are captured and consolidated automatically within Essatto • Use Essatto Excel Add-in to create input templates to “write-back” forecasts • Easy to learn, cookie cutter process • Automatically captures and consolidates forecasts • Simplifies the managers process by providing a “version one” forecast including reference information • Support for multiple managers situated in multiple locations • Forecasting and variance reporting against targets are more frequent
- 6. Powerful analysis and reporting capabilities Essatto includes powerful reporting and dashboarding Connect directly to Essatto data via web browser or Microsoft Excel and create reusable reports and dashboards that underpin ongoing reporting requirements. Users can self serve new reports or dashboards to answer ad-hoc questions from management, examples include • Who are the top performing salespeople, customers and products against my rolling forecast? • Is there any trend for electric vehicles vs last year, vs original budget or vs the latest rolling forecast? • Which salespeople are getting a bonus and how much will those bonuses be this year? • How much do we need to claim in rebates from different manufacturers?
- 7. Tailor your experience Global Car Sales has many users from sales, to finance, to purchasing, they all have different needs and different reporting requirements. Essatto has become a central and trusted source of data that is updated frequently and provides tailored reporting for different Global Car Sales users • Sales manager – sales and profitability • Marketing manager – more effective campaigns • Buying manager – inventory holding and forecasted sales • Finance manager – financial health of the business
- 8. Flexible to change Acquiring a new company or adding a new product range, restructuring your cost and profit centres or changing your ERP? These types of changes take effort and may have a disruptive impact on your processes. Global Car Sales moved to Odoo v13 from old general ledger software and used Essatto to map two years of non-Odoo history with the new Odoo COA to support historical variance reporting requirements. • Essatto hierarchies categorize and automatically consolidate your data • Hierarchy changes apply automatically to all history, budgets and forecasts to make your processes more flexible and resilient to changes • Reduce effort required to manage change that arises from periodic report revisions
- 9. Data source agnostic In addition to Odoo, Global Car Sales has many other data sources in its business, from both internal and external systems • Essatto can import data from many sources via API, SQL, NoSQL, Text and Excel, examples include Odoo, Google Analytics, other ERP software and operational systems • Essatto includes a connector for Odoo that • fast tracks the process of importing Odoo data and the definitions of key reporting and forecast input measures • reduces Essatto implementation effort by including subject areas that are pre-defined for Odoo like accounting and sales
- 10. Flexible licensing and infrastructure options Essatto has a subscription based pricing model and is available hosted in the cloud or can be installed on premise
- 11. Demo 1. Create a rolling forecast 2. Create a “what-if” that forecasts the impacts of new tariffs applied to imported vehicles 3. Complete a sales manager forecast 4. Add legacy accounts for historical reporting to the new Odoo COA
- 12. Summary • Essatto has a powerful budgeting and forecasting module • Managers are engaged with and own the forecast process • Essatto has powerful report and dashboard capabilities • User experience can be tailored • Hierarchies normalise your data and facilitate limitless data groupings providing endless reporting and analysis options. • Essatto has an Odoo connector but can import data from other sources too • Essatto has flexible license options
- 13. Thanks for watching, please see www.essatto.com/essatto-for-odoo for more details