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Odoo, an all-in-one management software company is expanding into the Chinese market to target small businesses (SMBs) in need of enterprise resource planning (ERP) systems.
A press release revealed that Odoo had launched a joint venture with Inspur, a Chinese cloud computing firm to expand into the Chinese market. The firm stated that it already provides services to its Chinese customers, but its current revenue from China is nothing compared to the size of the market.
Fabien Pinckaers, Odoo’s founder, said, “To reach the next level, we needed to partner with a leading company like Inspur. This is an excellent match, and Inspur is growing on an expanding and colossal market, with a huge commercial strike force. We couldn’t find a better match.”
Odoo statedthat it wants to become China’s No. 1 cloud ERP player for small businesses and hence they will focus more on marketing and sales efforts to achieve growth in the market.
Last year, FloQast, another ERP player had announced its focus on helping businesses to migrate their in-house systems to the cloud. The company introduced Cloud Connect, a tool to offer enterprises to near-real-time access to financial data stored within ERP systems.
CEO and Co-Founder of FloQast, Michael Whitmire had said, “On-premise ERP systems lack the connectivity of today’s modern, cloud-based applications. FloQast’s new Cloud Connect makes old on-premise ERP systems more like today’s cloud applications, eliminating manual headaches and giving greater utility to organizations’ financial data.”
ERP solutions providers have embraced cloud and other technologies to address a higher demand for real-time data. Last year’s research found professionals who identified ERP shortcomings as a top challenge to their ability to gain greater visibility into procurement, especially when it comes to ERPs’ inability to accurately classify and categorize procurement data, making it difficult for businesses to track spending patterns.