One Stop for All Business Needs
Open source business app developer Odoo grows its regional headquarters in Hong Kong to grasp opportunities in local, Mainland China and Asia markets.
The strategic location of Hong Kong and especially the proximity to Mainland China, a country with the most internet users in the world, are the most important factors for us to set up RHQ in Hong Kong.
Founded in 2005, Odoo is a Belgium-based software company providing business applications that form a complete suite of tools to cater business needs. By offering easy to use, time-saving and all-in-one management software, Odoo helps businesses minimise time spent on administrative tasks while enabling them to focus on creating value for their customers.
Targeting SMEs and startups, Odoo has over 30 main applications that suit different business functions, from sales management (CRM, quotations), finance (invoicing, accounting) to operations (HR, project management). These open source, fully integrated applications are developed, maintained and regularly upgraded by Odoo’s global community of over 1,500 active members. A premium service is also available with its consultants to train customers on how to use their applications to grow their business.
Full Expansion Mode
Odoo set up its Hong Kong office in November 2013 with only a couple of desks inside the Belgian Chamber of Commerce. Steering all business activities in Asia, the Hong Kong office has become Odoo’s regional headquarters (RHQ). The office is expanding rapidly and will be moving into a 15,000 sq. feet premise this year.
“Currently we are in full expansion mode. We sustained a growth of about 80 percent in revenue and in people.” said Matts Fievez, Director APAC. “The strategic location of Hong Kong and especially the proximity to Mainland China, a country with the most internet users in the world, are the most important factors for us to set up RHQ in Hong Kong.”
Targeting the Right Market
According to Fievez, Odoo’s products are especially strong in the SME segment. “While Hong Kong has around 340,000 SMEs, which represents 98 percent of the businesses in the city, the local market has always been a significant part for us,” Fievez said. “Since Odoo has a concrete establishment in Mainland China, Odoo is keen on expanding its opportunities in Hong Kong by offering inspiring new ideas for the new generation and opening new gateway for all kinds of industries.”
Opportunities and benefits also emerge for Odoo with the government’s strategic development on the innovation and technology sector, such as the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). “A lot of companies now realise the lack of technology support in their business, so they start searching for innovative solutions like Odoo’s applications to help them operate more efficiently.”
“We can also see there are more and more young talent hoping to build a career in the tech industry, leading to more supply of tech talent in the near future which will help us to grow.”
Fievez finds InvestHK’s service particularly useful for their expansion in the city. “Attending events invited by InvestHK assists us to connect with other local businesses and enhance our market awareness. At the same time they allow us to gain up-to-date market intelligence resulting in better marketing strategy deployment for the Hong Kong market itself,” he concluded.
- Odoo currently has nine offices across Europe, the US, Middle East and Asia
- Has more than 1,800 resellers and partners spanning over 151 countries
- Odoo is the most installed management software worldwide with more than 4 million users
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