Odoo launches AI accounting assistant for invoice generation and reporting

Hello everyone. Um, sorry for the technical difficulties. I hope you can hear me now. I believe uh some of you were messaging on the chat that you weren't able to hear me. Is it possible that you can hear me now and we can get started. So once again good morning everyone and welcome. Uh my name is Isra. I am the senior regional business advisor here in Udu Middle East the Dubai office. Uh thank you all for joining us today. Today we're actually going to explore something that is very crucial for all businesses and that is the accounting flow for all companies. And now accounting of course is a very very important thing for all businesses since it is the financial backbone of all the uh transactions that is being done from from the business uh when you're purchasing when you're selling. So it's very important to track. So before we get to the AI side of things, thanks for confirming everyone. Uh let's take a step back and kind of look at how businesses will grow. So as businesses grow, managing everything through Excel sheets perhaps manually can become tedious and prone to human error very quickly and very easily as well as disconnected systems can cause for uh disconnected uh operations that happen between uh departments in your company. So how we can do that limit that with UDO is that here you can track your invoices, you can track your payments and bills. Uh you can also do automated invoice follow-ups to your vendors and your customers uh to be [snorts] able to track all your expenses and payments. Now in terms of as well all the financial reporting that you get with UDO uh all the VAT returns, the VAT reports, uh your financial statements such as your cash flow, your balance sheets, all of these things are generated from UDO automatically. Okay, so this is where UDO comes in. Udu brings it all under one system so you're able to track your accounting more seamlessly. And how that works is that any vendor bill, any expense, any payment, any customer invoice that I input into the system automatically shows up for me in my accounting. So in terms of my reporting. So today we're actually going to look at the UDO 20 uh features with Udu AI accounting where you can use the Aentic AI on Udu 20 to be able to uh ask it to generate specific reports perhaps uh create specific draft invoices for you. And this is what we're going to show you today. Okay. So let me start by showing you okay uh what kind of new features that we're offering with our new UDO AI. So today's session as you know is the powered uh assistant AI for the accounting and a little bit of background about UDU as a whole. So we are originally a Belgian company that got initiated by our CEO and founder Faben and [snorts] his main aim when he started this whole uh conglomerate a couple years ago, 20 plus years ago. Uh the main aim was to help companies grow and be able to unleash their full potential uh in a nice simple easy system. This helps empower users and this is how we were able to scale to around 19 offices worldwide, 6,000 plus employees and over 15 million happy users worldwide. [snorts] So the current office that I am uh you know having this meeting from is the UDO Middle East office which uh actually uh is the main hub office for all of the Middle East and Turkey regions as well. So why businesses should outgrow Excel right? So in spreadsheets um this is the main thing that uh all our clients face on a daily basis in their businesses is that as they're doing their accounting at the end of the year when they're filing anything like that they [snorts] find that there's a lot of uh differences in their numbers. They realize there's a lot of misinputs that have been done by their employees or by themselves. So then it causes more time and effort to be able to review all those previous inputs and be able to see where the issue came from. So of course with Excel uh we know how complicated and complex it can get very quickly, very easily. So what we're actually going to show you today is that live demo and this is where I would be able to show uh the AI accounting how it's going to work and then we can go into the uh you know the Q&A at the end. So how would you choose the right kind of system? So the traditional approach is that when I want to approach I have a client that is approaching my business and I wish to track their leads, I wish to track their invoice payments, I wish to track the services that I'm going to offer them. All of these things will get tedious very quickly. uh if I'm using perhaps WordPress for my website, Salesforce for my CRM, docuign to get collect signatures, HubSpot for leads, all of these uh disfragmented operations can get very overwhelming. So this is where UDO's approach comes in and putting everything that we uh basically need in a business under one roof. So we have over 80 applications that will cater to different business needs. uh we have HR modules, marketing modules, logistics modules, uh sales modules and accounting modules of of course to do with finance uh as well as retail. So if you wish to have a point of sale restaurant, perhaps a retail shop, uh Udu will support that as well. [snorts] So for every app there is a need for it. Um and this is where that solution comes in fully integrated with everything you may need. So more about the AI assistant itself. So this is actually where uh the agent will be present on your UDO database. Uh you'll be able to basically ask it uh specific questions that you want to see in the database, maybe reports or anything like that. And you can ask it either by voice recording or by uh text. And [snorts] you can actually explore specific insights from your accounting data including forecasting reports and also turn your financial figures that are currently on your database uh into more uh consultative decisions that you can take for the business. Okay. So let's go ahead and demo okay over here and I will share my screen. Perfect. So, what you see right here is actually your uh UDO 20 uh dashboards. Okay. Uh I saw someone say sound. Can everybody hear me? Fine. Right. We can proceed. Um perfect. So, right now is what you see is your UDO homepage. Uh I have of course my A app installed which is AI app installed which is very important for this session of course. And then we have our accounting uh app installed as well. Uh and within the accounting we have the all the invoicing features are done within the accounting itself. Uh it does not have to be a separate app because UDO's apps are all integrated in some way or another in the back end. And you can see that uh the upgrade that we did from UDO 19 to UDO 20 uh is this background over here where we were able to make it uh more uh fitting the uh modern aesthetics of uh businesses that they were requiring. We were hearing our customers uh and their feedback. So we did as well some UI changes and improvements on the system. So what does the UDO accounting look like anyway without any AI? Of course once I enter it you can see that I have a quick glance over all my different uh bank journals. So I have I can have perhaps a bank AED journal. I can have a bank euro journal. So these are all different journals that I can simply add on the system. And then of course I have my purchases. I have my sales journals, my cash journals. These are basically the full dashboard that you see here uh with UDO at a glance once you enter the accounting application. Now the [snorts] new thing that we did upgrade for UDO 20 is you can see at the top here it gives me a quick insight into my financial health of the business. So you can see that I have my invoices uh amounting to how much dirhams I have expenses cash receivables payables and then of course let's set up together what the invoice layout would look like. So, I'll simply just click here to set up my invoice layout. This is where I'll be able to change the design. So, we've added more designs as part of Udo 20 as well. And of course, uh these are the uh standard ones that come out of the box from UDU. And then of course the way that the table should be formed as well. This is something that we also uh improved as per Udu 20 with different designs. And then of course the font itself. So we can actually we added new fonts such as Tajal. Uh this is a new font we added as part of Udo 20. And this is where you can upload your own logo and you can use uh UDO's logic AI to basically choose colors for your business or you can simply choose your own colors uh manually. This is where you'd be able to add your address which will show up on the invoice layout itself. You can also add a tagline or a slogan for the business as well as the footer where normally our clients would put their bank details in. It will show up on every invoice layout that you uh every invoice that you issue uh on every PDF that you issue from the system. This is basically the uh centralized area where we would do the settings for. And then of course my paper format, how I want it to look like. My TRN information, I would add it here as well as my bank account information. So this is where everything uh basically how my invoices will be issued out will look from here. I can edit it here. I simply press continue and let's hop into exactly what the accounting actually is made of. So we'll go tab by tab and if you have any questions at all uh please uh put them in the in the chat and we will uh address them at the end of the demo. So when I look at my customers tab this is where I can see all my historical invoices that was done. Uh I have my search filter up here where I can search by specific dates, perhaps specific products or specific customers and it will uh use its own uh engine to be able to show me the data that I am using the search filters based on. Okay. So I can actually group it by a specific uh field or I can filter it to a specific information. And our filter searches actually go into great detail. So you can actual