Do you often wonder what the difference is between both 1. customer relationship management system (CRM) & 2. enterprise resource planning (ERP) system. These two are similar in many ways but have different core functionalities and offer valuable business solutions that improve both revenue and productivity.
CRM systems record and store every piece of information regarding customer interactions. The data is standardized and easily shareable throughout the organization.
CRM systems can create sales projections, can nurture the prospect through the sales funnel, can manage communication, invoices & more. A CRM improves efficiency, improves sales and offers more accuracy with customer data. Customer relations are enhanced as a result.
Here are several features that CRM systems offer,
- Automate and manage marketing campaigns
- Analyze purchasing patterns
- Offer high-quality customer support
- Automate redundant tasks
- Identify new leads
- Streamline the sales process
- Explaining an ERP system
Like a CRM, ERP software is designed to streamline business operations. While a CRM focuses on the sales side of the organization, an ERP system is integrated and implemented across multiple departments of the organizations.
An ERP system, at its core, offers interconnected management of specific business processes. One can get standardized information throughout every department in real time. Any issues send as alerts to designated recipients.
Both ERP and CRM systems improve efficiencies in business processes, but an ERP system focuses on decreasing costs by making business processes more efficient and Both offer central repositories for customer data.
A CRM helps to ensure customers are satisfied and loyal, since every company needs to optimize customer relations. Every department can understand the workflow with other departments with an ERP system,
Well, you need both. A CRM system drives sales, and an ERP system helps to streamline operations and reduce overall costs. Working together, a CRM and an ERP can maximize business growth.
There is good news: you don’t need to choose; Microsoft Dynamics 365 combines both CRM and ERP functionalities.