DIGITAL ECONOMICS: SHOPIFY & ODOO

Have you ever wondered how giant companies emerged in the world? And how they achieve massive growth in short periods? In today's world of technology and digitalization, we have global companies like the Canadian multinational company specializing in web design, e-commerce, and online business "Shopify," which achieved a net profit of US$132 million in 2023, with the company's share price reaching $65 to date. Similarly, the global company Odoo has reached 12 million users worldwide! Many countries have invested millions of dollars in these companies as well! What is Odoo, and what is Shopify? And why?

 Odoo is a suite of open-source business apps that cover all your company needs: CRM, eCommerce, accounting, inventory, point of sale, project management, etc.

Odoo's unique value proposition is to be at the same time very easy to use and fully integrated.

Shopify is supporting the next generation of entrepreneurs, the world’s biggest brands, and everyone in between. Whether you want to sell products down the street or around the world, they have all the tools you need.

 The secret behind the growth of these companies is, in short, the allocation of a massive budget for research and development to create and improve software products and the hiring of experts and specialists to continually develop and update them to meet the needs of institutions and businesses. For example, as of 2023, Shopify employs eight thousand people. They then offer the platform to interested parties and users to subscribe and use from their laptop or mobile device, from home, and anywhere in the world!

Simply, the user subscribes to the service monthly or annually and then gains access to all the services provided by these companies, which offer the best possible services to users. For example, through the Shopify platform, you can manage and execute all stages of the business cycle, from purchasing a domain, designing the website, inventory management, digital marketing, purchasing processes, and accounting, all in an integrated and synchronized manner.

Similarly, through the Odoo platform, you can execute and manage business cycles, whether commercial or service-oriented, on a broader and more comprehensive level for all services and operations. For instance, the global car company Toyota uses Odoo software to manage and execute all its commercial and service operations with all their details through this program. Therefore, if a person in the Middle East is using this platform, they are using the same platform that Toyota uses!

Some advantages of using multinational global company platforms include:

·       Keeping up with technological and digital advancements with updates first-hand without the hassle of innovation and development.

·       Integration: Providing the necessary and integrated applications and technologies on a single platform, working very efficiently and thus producing higher productivity!

·       Synchronization between applications.

·       Lower costs: You can start using the necessary applications to begin the process and then add what you need, in addition to saving on operational costs and hiring experts and specialists.

·       Saving the necessary time and effort by reducing the need for data entry.

·       Unlimited space for cloud services, data protection, and providing cloud backups in multiple countries.

 Of course, there are many such platforms like SAP, ORACLE, ZOHO, MAILCHIMP, and SALESFORCE QUICKBOOKS, but in my opinion, the best in terms of user-friendliness and business scope are ODOO and SHOPIFY.

Accounting-wise, you can integrate QuickBooks with the Shopify platform, whereas Odoo has its own accounting software.

 What I also want to convey to investors interested in passive income is the partnership opportunities provided by these giant companies. By learning and understanding how these platforms work, you can offer their services to others. By subscribing to their partnership programs, you can earn up to 20% monthly profit for each user who subscribes to the service through you! This is one aspect of smart investment.

 If you simplify everything, you can do anything!