In the world of business operations, choosing rentals instead of purchases is frequently a more effective and economical choice, particularly for smaller and medium-sized industries. Rentals mitigate the risk of heavy investments in products needed to manage operations, making them popular and affordable choices. The Odoo 16 Rental module streamlines operations by offering functionalities such as generating rental quotations, managing orders, handling invoices and payments, and conducting product availability searches. Businesses can streamline rental processes and optimize resource allocation using this module.
The Odoo Rental module covers almost all rental business requirements, from scheduling to invoicing, and provides real-time abstracts of rental products and their availability. It enables creation of professional quotations to boost revenue and efficiently manages the full lifecycle of rental products.
Odoo 16 offers exceptional features in each module, benefiting small and mid-sized businesses. For small manufacturing businesses, the Odoo Rental module is a perfect solution to manage rental operations in an organized manner. This blog provides an overview of the functionality and workings of the Odoo 16 Rental module. It offers insights into how the module operates and how it can benefit businesses in managing their rental operations. Let’s delve deeper into the blog.
1. Dashboard and Views:
The Rental module in Odoo provides a user-friendly dashboard that gives you an overview of your rental orders. The dashboard provides visibility into the status of every order and the assigned personnel handling them.
The module offers various views, such as Kanban, List, Pivot, Calendar, Activity, and Graphical, to help you visualize and manage your rental orders effectively.
The Kanban view categorizes orders by their rental and invoice statuses, while the Calendar view allows you to schedule and plan rental activities. The Graph view presents different chart options for data analysis, enabling you to gain insights into your rental operations.
2. Creating a Rental Order:
Creating a rental order in Odoo is straightforward. Simply click on the “Create/New” button and provide the customer’s name and the rental product you want to include in the order.
Specify the rental duration by setting the start and end dates. After providing all the required information, you can proceed with the rental order by confirming it.
3. Making Payment:
Once a rental order is created, you have two options: “Create Invoice” and “Pick Up.”
If you choose to create an invoice, Odoo generates an invoice for the rental order. You can select the type of invoice you want to create and proceed accordingly.
Once the invoice is generated, you can register the payment by clicking on the “Register Payment” button.
New Features in Odoo 16 Rental Module
Odoo recognizes the promising future of the rental sector and has introduced several smart features in the Rental module to enhance the operation of rental businesses. With the growing trend of online selling, customer satisfaction has become crucial. The new features in the rental module enable businesses and customers to easily configure and rent products, resulting in a seamless experience. Let’s explore the key features of the Odoo 16 rental module:
1. Rental Periods:
In the updated rental module, users can now configure rental periods to suit their specific needs. This feature allows for better management of rental durations and can be utilized for online rental purposes.
2. Time-Based Pricing as Per Rental Periods:
The rental module now offers the functionality to set time-based pricing for rental products. Users can specify the pricing structure based on different rental periods. The configured pricing will be displayed on the website for customers to see.
3. Online Rental (Rental + eCommerce):
A remarkable feature of the updated rental module is the integration of rental and eCommerce modules, enabling online rental. Once a product is configured in the rental module, it can be seamlessly displayed on the eCommerce website with the corresponding time-based pricing.
4. Easy Cross-Selling & Upselling of Rental Products:
To boost revenue, users can now engage in cross-selling and upselling of rental products. By creating accessory products and linking them to the main rental product, customers are prompted to consider additional items during the rental process. This can be done by displaying suggested accessories or offering optional products to enhance the overall rental experience.
5. Selling Rental Products with Interesting Blog Content Using Rental Search:
To further drive sales, Odoo provides the option to promote rental products through engaging blog content. By incorporating the Rental Search block into relevant blog pages, users can create captivating product-based titles, add compelling content, and showcase the rental products. This feature allows for effective marketing and increased sales.
6. Configuration of Unavailability Dates:
In the updated rental module, users can configure unavailability dates for rental products. This enables better control over product availability by specifying certain dates when the product will not be available for rent.
The Odoo 16 rental module introduces new features that bring several benefits to rental businesses, including increased revenue, reduced costs and manpower, and overall business growth. With enhanced configurability, online rental capabilities, cross-selling opportunities, and effective marketing through blogs, Odoo provides a comprehensive solution for successful rental operations.
In conclusion, the Odoo 16 Rental module offers a range of powerful features and functionalities that greatly benefit rental businesses. With its user-friendly dashboard, customizable views, and easy rental order creation, businesses can efficiently manage their rental operations. The module allows for flexible configuration of rental periods and time-based pricing, catering to specific customer needs. The integration of the rental and eCommerce modules enables online rental, tapping into the growing trend of online selling. Cross-selling and upselling options enhance revenue generation, while the ability to promote rental products through engaging blog content boosts marketing efforts. The module also allows for the configuration of unavailability dates, providing better control over product availability. Overall, the Odoo 16 Rental module is a comprehensive solution that drives business growth, increases revenue, and streamlines rental operations for optimal efficiency.