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Increase sales with EMI options with Odoo EMI Calculation Pro!
Affordability and freedom to buy products are some of the primary benefits of EMI (Equated Monthly Installments). And it is what everybody knows, right?
EMI provides easy purchase options to customers through monthly installments. This gives your business new strata of customers.
Odoo EMI calculation Pro module integrates the EMI structure to your Odoo. So, instead of paying the entire amount upfront, which can be difficult in some situations, the customers can opt to pay the amount in monthly installments and ease the financial burden on their pockets.
The Odoo admin can define installment plans for various banks in Odoo at the product level. For further convenience, the admin can give each product variant its specific EMI plans in the Odoo backend.
The EMI can be a standard (interest incurred) or a No-cost plan.
The amount of each installment and the total amount payable for an EMI plan can be viewed by the Odoo admin in the Odoo backend.
Benefits of providing EMI option to customers
- Appeals To Wider Customers
The EMI option allows people from various backgrounds to make purchases from your Odoo website as they are not burdened by the obligation to make immediate payment for the total amount of their order. They can pay the amount through simple monthly payments.
- Instant Purchases
EMI scheme can catalyze instant purchases and reduce cart abandonment on your website, even for the most expensive and popular products.
- Upselling/Cross-Selling Opportunities
The breakdown of the total order amount into bite-sized monthly chunks provides you with a tremendous opportunity to present upselling and cross-selling options to the customers.
Since the customers are not required to pay the total amount immediately, they can relate products to the orders.
- Easy Payments
One of the most significant facets and advantages of EMI plans to the customers is the easy recurring payments instead of enormous one-time deductions from their bankrolls. This facilitates the customers to make purchases on the go instead of procrastinating in placing an order.
How Can Offering EMI Plans Drive More Conversions On Your Odoo Website
Increasing mobile and internet penetration has helped bring the e-commerce market closer to buyers. Advancements in mobile technology are further bridging the gap between e-commerce markets and their accessibility to people.
However, a big chunk of the population comprises the working class that does not have instant cash to pay upfront for the purchase.
Even when the customers are visiting your website. How do you ensure that people from every background can have the capability to purchase on your website?
Easy monthly installments!!!....EMI Plans
As much as 20 percent of gross merchandising value (GMV) is being financed through no-cost EMIs.
Almost every small to big e-commerce business is providing a ‘purchase through EMI’ option to the customers.
Odoo EMI Calculation Pro Features
Define EMI Plans in Odoo
- This module installs the structure to define EMI plans for products on the Odoo website.
- This module installs the structure to define EMI plans for products on the Odoo website.
Add the EMI plans of each bank to the products
- If available, the admin can add the respective EMI plans of each bank to the products.
- To further extend liquidity, the Odoo admin can add EMI plans for each product variant separately to customers.
Showcase the EMI plans on the product page in Odoo
- On the Odoo website product page, the user can see the added EMI plans.
- Customers can view each plan details of any product by visiting the particular product page on the Odoo website.
Manage the installment and ROI at the Odoo backend
- In the Odoo backend, the admin can view the total payable amount and distribution to each installment by entering the tenure and rate of interest in the EMI form.
- The admin can define both; standard or No-cost EMI options from the Odoo backend.
Add numerous bank EMI options in the same Product
- Add various bank Standard and No-Cost EMI options to the same product.
- On adding the EMI tenure and interest rate, the module automatically calculates the monthly installments and total payable amount.
- Admin can create multiple EMI plans of different banks in the backend.
- Odoo admin can EMI plans along with terms and conditions in the backend.
- Create banks and enter their details so users can view the EMI plans.
- Choose a pricelist for creating EMI options from the backend.
- The product will show all the EMI options available from the Odoo backend.
Select EMI Plan on the Odoo Website
- View Standard and No-Cost EMI options on the Odoo website.
- Selecting a bank will show all the available plans offered by them.
- Choosing an EMI plan will show the total amount and monthly EMI customers need to pay for that particular product.
- Both EMI options will be available in different tabs.
- Customers can view all EMI options with just a click.
- The product page will have a hyperlink that will open the EMI option popup on the website.
- Customers can compare different plans of different banks on the Odoo website.
Other Odoo Apps-
Odoo EMI Calculation Pro
Webkul's dedicated support provides you with the customizations and troubleshooting solutions for Odoo EMI Calculation Pro.
For any query or issue please CREATE A TICKET HERE
You may also check our other top-quality Odoo Apps.
Specifications
Product Version1.0.0
Released5 years ago
CategoryOdoo Apps, Ecommerce / Website,
Last UpdatedDecember 15, 2023 (9 months ago)
License Single application
Supported VersionsOdoo 12.x 13.x 14.x 15.x 16.x 17.x
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Default Configuration Details of Server
- 1 GB RAM
- 1 Core Processor
- 30 GB Hard Disk
- DB with 1 GB RAM and 1 Core Processor
* Server Configuration may vary as per application requirements.
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