ERP vs CRM — What are they, what do they do, how do they differ, and which do you need? Learn all about it here!
If you're running a business, you've probably considered using software to optimize operations.
Two terms that you may have come across in your research are Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM), for small businesses as these are two of the most popular software suites available for customer-centric businesses.
And does your business need both to be successful?Take a look at the difference between ERP and CRM software (and where they overlap) to see how these two types of software benefit your business.
Here are the basics:What is ERP?ERP, known as enterprise resource planning, generally refers to any software suite made up of business tools such as accounting, budgeting, and forecasting.
There are also human resources tools for planning, attendance monitoring, and employee integration.
Finally, there are applications for inventory and supply chain management.The many features of ERP make it an incredibly popular option for optimizing business processes in all departments in real-time.
Businesses that are looking to add a business management software to their organizational set-up often get to hear about two software solutions in particular- enterprise resource planning (ERP), and customer relationship management (CRM).
Both these software focus mainly on revenue generation, and automation, and are in a way two sides of the same profitability coin.
A business management tool, ERP software allows businesses to collect, store, manage and interpret data from their different functions such as CRM, accounting, supply chain, manufacturing, human resources, inventory, procurement, marketing & sales, planning, etc., to provide a unified solution.
Streamlined processes, improved productivity & efficiency, enhanced business visibility, better quality, informed decisions, reduced costs & risks, and adherence to industry & regulatory compliance, etc.
In simple words, CRM is a system for recording and storing all the data related to prospect/lead/customer interactions- starting from the opportunity to lead generation, requirement sharing, samples sent, approval/feedback received, finally conversion as customers.
A front-office tool, CRM Software is usually used by the sales and marketing people within the organization, to increase revenue through an improvement in responsiveness.
