Ikon Petroleum fuels growth with Odoo

Company Name: Ikon Petroleum

Country: Iraq & UAE

Industry: Energy Supply / Trading

Implementing Partner: Klystron Global LLC

Main Apps implemented: Purchase, Invoicing, Inventory, Accounting, Invoicing, Website, Recruitment, Appraisal, Expenses, Leaves/Time Off, Documents, & Studio. 

Odoo Users: 35

Odoo Customer Success Manager: Yara Maswadah

The Star!

Ikon petroleum is an established and recognized niche player in the Oil Trading industry, continually developing and strengthening its core activities. Commodities are not always produced close to where the demand is highest. This is how the birth of a group of companies came to work together and connect production and delivery. Physical traders act as distributors to supply their clients and move various products around the world. Most of the world's oil is produced in the Middle East, with strong demand in Asia Pacific & Europe. 

Ikon Petroleum is a large organization with many departments and divisions - each of which needs to have its own set of data. This story started when Ikon realized that Odoo had just about everything it needed to automate its business functions: HR, workflow management, purchasing and customer relationship management. It was a process to switch from manual methods to automation, but today you would never know all the work that went into running Ikon before they found Odoo.

The Obstacles 

Ikon were facing issues with manual data entry. They were using this method to upload into their accounting, HRMS and inventory systems, which had led to a few issues such as time consumption, data errors, and difficulty locating the correct information in large spreadsheets, which led to mistakes while inputting the data. Overall it took valuable time from the employees who were engaged in it, which could be used for other core tasks.

The Solution.

After encompassing a hefty Odoo suit, Ikon began picking elements they believed could be improved via digitalization. While upgrading their processes, they discovered the key features to focus on that would help set the fundamental foundations to track, organize and optimize how they conduct business moving forward.  

Starting with the accounts: they customized the workflows, and how it captures data, they then integrated third-party API to collect data and define their own permission criteria and audit features.

HRMS: They covered all the functionalities from recruitment to on/offboarding as they integrated attendance automation and onboarding.

Shifting from manual entry to a fully automated system finally freed up the end users to properly optimize their time and created an automated process that cut man hours by almost half. 

Fresh from the source!

"We were using multiple systems to run our daily business. With Odoo, we were able to integrate all our departments and to have that seamless workflow process, our productivity went up 100% by June 21, 2022" -Areeb Muhammad IT Director 


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