Open-source software firm Odoo is now teamed up with B2B eCommerce network CoreChain. The companies announced the news on 15 December 2022. The collaboration of the companies will bring both B2B payments and financing and open-source software services together for 8 million users.
Odoo is one of the most popular software solution providers in the entire world. It has a transactional base of millions for both payments and lending, and with B2B eCommerce company CoreChain, it can offer new value across its ecosystem.
CEO Chris Aguas of CoreChain said in the press release it’s always fun to see the introduction of a democratic system to B2B financial transactions in action.
Odoo is a software solution provider for small and medium businesses with customers across the globe. The company has 3,850 partners and 90,000 community members working alongside using its applications and building their businesses.
On the other hand, CoreChain is a B2B eCommerce company that provides white-label solutions to financial institutions. It provides an enterprise resource planning (ERP) system that allows companies to manage their B2B payments. With its distributed ledger technology, it can keep a record of every transaction and provide complete visibility to both buyers and sellers.
Its solutions help small businesses keep track of their payments efficiently and unlock new cashflow opportunities in their revenue systems.
Briand Kitchens, Odoos partner and adviser, said that many companies have embedded payments systems to their mobile and desktop systems successfully for B2C, but there is still a void in the B2B ecosystem.
According to him, CoreChain is a payment solution based on blockchain technology and can provide secure and efficient B2B payments. The payment embedding technology of CoreChain will bring tremendous value to the Odoo community, he said.
Reports suggest companies are in a hurry to provide complete digital payment experiences in the B2B space; thus, many are opting for B2B eCommerce white-label solutions.