ODOO TallyPrime
Odoo 18 / Odoo vs Tally
Introduction
Today, Accounting is not only restricted to data entry, ledgers, bookkeeping, and number crunching. It is evolving over time in order to meet business needs. The accounting industry is undergoing drastic changes due to technological advancements, automation, artificial intelligence, RPA, machine learning, and analytical processing. This is leading to digitally transforming businesses and industries.
One major emerging accounting trend is the switch over to the ERP system. They provide you an opportunity to integrate your accounting software with financial data and other elements of business such as inventory, sales, manufacturing, etc.
It is expected that accounting software will be in high demand in the coming years. Accounting software available can be either installed locally or through a cloud service provider.
- Scope: TallyPrime focuses on accounting & VAT, GST; Odoo offers afull ERP suite (CRM, HR, inventory, etc.).
- Deployment: Tallyprime is mostly desktop-based (with limited remote access); Odoo is cloud based and web-accessible.
- Customization: Odoo is highly customizable and modular; TallyPrime has limited customization options.
- Pricing: TallyPrime is one-time licensed; Odoo has subscription-based pricing for advanced features.
Features Comparison
This analysis compares two of the top players of the Indian market: TallyPrime 3.0 and Odoo 17. The comparisons are organized into 9 main categories: General Accounting, Accounts Receivable, Accounts Payable, Bank and Cash, Miscellaneous Operations, Document Management, Analytic Accounting/Cost Centres, Extras, and Reporting.
These categories encompass almost everything a company needs to manage its finances. We have also included a comprehensive list of the pricing conditions and usability analysis for each solution in this comparison.
Odoo
Odoo is a leading integrated ERP software used worldwide for managing business processes. Apps and modules are present for CRM, Sales, eCommerce, Inventory, Accounting, Billing, Manufacturing, etc.
It possesses an impressive user interface & modular structure, highly customizable, scalable, and affordable. This suite of open-source business apps is designed to meet industry-specific demands.
Odoo Enterprise Edition (paid), Odoo Community Edition (paid), and SaaS subscription plans are offered by it. It is easy to use, extremely flexible, and integrates with several third party add-on software apps. It is suitable for both small and large companies.
TallyPrime
TallyPrime is a blend of function, control, and in-built customization which offers multiple functionalities for Accounting. It can help in fulfilling all business requirements accounting, invoicing, reports, inventory etc.
TallyPrime enables you to create and maintain records of up to 99,999 companies. Silver Rental, Silver, Gold Rental, Gold plans are offered by TallyPrime based on editions & PCs. Single use Tally software and Multiple user Tally software are available in the marketplace to fulfill the requirements of businesses.
Comparison
| General Accounting | Odoo | Tally |
|---|---|---|
| General Scope | ||
| Multi-currency | ||
| Multi-Branches | ||
| Multi-User | ||
| Multiple Journals | ||
| Multiple Language Support | ||
| Supported Countries | 140 | 6 |
| Accrual and Cash Basis | ||
| Real Time Accounting | ||
| Access Rights per Screen | ||
| Access Rights per Field | ||
| Customizable Validation Steps | ||
| Third-Party Integration | ||
| API | ||
| Spreadsheet Integration | ||
| Import: Excel or CSV | ||
| Export: Excel or CSV | ||
| Customer Portal | ||
| Customer / Vendor Communication | ||
| Emails | One Way | |
| One Way | ||
| Internal Communication | ||
| Chat | ||
| Video Conference |
Different solutions, different needs
In order to excel in business, it is important to streamline ineffective processes. For it, you need to opt for the right software. This leads to the analysis of certain parameters such as- features, functionality, workflow, etc.
Business scope evaluates the software functions, specifications, usability, customization capability, and integrations with other tools for your business growth.
User-friendliness measures how software is user-friendly to use easily & intuitively and whether it is adaptable to the business according to its tailored needs or not. It evaluates how the software is simple to install along with the updates requiring minimal effort to understand & avoid time-consuming training and procedures. It should also adhere to the industry standards and be efficient after all.
Odoo and TallyPrime have bought game-changing software solutions to the accounting world. These software help you to ameliorate business’s financial accuracy and visibility so that valuable time can be spent on more important tasks by integrating all business applications at one place and enhancing productivity.
Odoo is one of the robust all-in-one business management software which fastens the accounting operations placing all necessary tools at one place. It’s highly customizable, integrates multiple applications, and accelerates with an open source nature! Its open-source nature empowers a thriving community resulting in a vast repository of community-contributed applications. It is the best solution provider for bill management.
TallyPrime is perfectly simple to use, versatile, and scalable. It offers solutions for accounting, project, inventory, invoice features, and much more. Additionally, it streamlines tax computations and compliance. But, it is restricted to other domains of businesses such as sales, marketing, HR, etc. Its customization is also limited. But, it is only limited to accounting and doesn’t cover other business domains such as sales, marketing, HR, etc.
Odoo offers top-notch modular architecture & fosters continuous development and adaptability. Businesses have the flexibility to use any one of its applications that aligns with their needs. It has an extremely user-friendly user interface, provides straightforward navigation and is comprehensive by nature.
On the other hand, TallyPrime is not easily adaptable and its learning curve is long. Business owners may find it difficult to understand and implement them. TallyPrime customization is limited and its supporting system still lags behind and data security is a big issue in it.