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When i installed openerpv7.0 in my system,it shows an error.

Error: An error occured executing the Microsoft VC++ runtime installer. Please ensure that Windows Installer 3.1 or later is installed.

How can i solve this issue?

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Make sure Windows Installer 3.1 or later is installed. :) You gave the answer yourself.

Serious: Depending on your version of OS, yo can download it from:

http://www.microsoft.com/en-us/download/details.aspx?id=8483

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Yes, Now i install windows installer & it is working fine.

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I got windows installed 4.5 running on my machine already. Still I am getting this error while installing openerp 7.0. "An error occured executing the Microsoft VC++ runtime installer". Any thoughts?

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I meant "windows installer 4.5" running already.

May not be the answer you're looking for, but running OpenERP/Odoo on Ubuntu is highly recommended. Even if you have to make a virtual machine for Ubuntu within Windows, you're much better off than trying to run everything on Windows. This was a great link to help me get started: http://www.theopensourcerer.com/2012/12/how-to-install-openerp-7-0-on-ubuntu-12-04-lts/ It was written for Ubuntu Server 12.04 but the same concepts apply to 14.04. Here's a link for installing from github: https://www.odoo.com/forum/help-1/question/how-to-install-odoo-from-github-on-ubuntu-14-04-for-testing-purposes-only-ie-not-for-production-52627 I'd recommend if you go the github route to checkout branch 7.0 rather than staying on the master branch. Even 8.0 is still a release candidate, so if you're looking to go into production I'd be weary of preparing to use 8.0.