Both Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) place a strong emphasis on resource planning to improve a company’s economy, effectiveness, and efficiency.
However, each platform has a distinct area of concentration.
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Describe ERP.
The daily operations of a business, from management to logistics, are made simpler and more efficient with ERP software. It incorporates every function required to run the business, including accounting, production, distribution, marketing, and supply chain management. Additionally, some software provides e-commerce, customer relationship management, and human resources management.
ERP functions as a centralized system to optimize all business operations and information flow throughout a whole company. Its web-based apps are accessible through any interface. This ensures that all corporate divisions always have access to the most recent information.
95% of businesses found that using ERP systems enhanced their business processes, according to the 2020 ERP Report.
But what specific gains can you anticipate?
To help you better grasp how ERP might assist you, let’s discuss some of its advantages.
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Improved Business Planning and Reporting
You can see the entire business clearly when all the crucial real-time data is collected in one location. As a result, you can design unique, constantly updated reports that help you decide better and organize your actions. Instead of speculating, businesses now are data-driven.
ERP software will only be in charge of tracking the expansion of the entire firm.
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Cost-effectiveness
ERP connects various technologies utilized by each division of a firm, assisting in the elimination of expensive duplications and incompatible technology. You can control whether money is going in the right way and save costs because you have access to all the real-time data.
Increased Productivity and Coordination
Using ERP solutions, internal communications and information sharing between departments is made simpler. As a result, there is better internal communication, less mail in the inbox, and perhaps even fewer meetings. As a result, coordination gets better, and the team produces more effectively.
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Improved data security
Cybercriminals have acknowledged carrying out an alarmingly greater number of attacks in recent years. ERP is a terrific tool for preventing sensitive data from falling into the wrong hands, though. ERP systems prioritize data protection and offer numerous overlapping levels of security measures.
However, there might be variations among different solutions. In order to ensure that your data is safeguarded to the greatest standard, consider the data security measures of the ERP software you choose.
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Increased data caliber
Having accurate, high-quality data is crucial. After all, the quality of the data passing through an ERP system determines its effectiveness. Due to duplicate entries, forgotten information, invalid email addresses, and inaccurate addresses, there is, regrettably, a lot of space for error.
Even though human intervention is still required at this point, the ERP system will alert you when you upload the data about any potential mistakes such as missing fields and inaccurate addresses.
NetSuite ERP, Scoro, AcTouch, Acumatica, Rossum, Kechie ERP, and Tipalti are a few examples of ERP systems.
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Describe CRM.
A software program called customer relationship management keeps track of all communications and aids in fostering bonds with both past and present customers. Data on your clients and prospects is centrally located and available from anywhere.
All communication channels (calls, emails, texts, chats, and meetings), documents, purchases, quotes, and tasks connected to each contact are consolidated by a CRM. As your leads and clients act, the data is automatically updated continuously.
Integrations with other software, such as emailing systems, social media platforms, phone systems, and many more, make it possible. For instance, HubSpot, one of the most well-known CRM programs, has hundreds of integrations. As a result, every member of your team always has access to the client’s data so they can clinch a deal or provide exceptional support.
CRM systems are crucial for a company’s success, as evidenced by the fact that 91% of businesses with ten or more employees utilize one.
Let’s discuss the advantages of CRM in more detail so you can see how it might assist your company as well.
- Proactive client relations
With CRM, you can assist your clients before they even feel the need to contact you. For instance, you could send your client an email informing them that it’s time to start using their device because it has been a while since they purchased it. Alternately, you may create tailored offers based on their prior purchases.
CRMS makes it possible to communicate with customers through the appropriate channels and provide them with the necessary information quickly.
In order to increase customer satisfaction and retention, proactive customer service is crucial.
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Collaboration Made Simple
The communication between your teams improves when you are able to gather, arrange, and share customer information throughout the entire organization. Spreadsheets, email attachments, and group chat conversations won’t lose any additional data. Everyone has access to the central repository of all data at any time with the help of proper shared inbox software within a CRM.
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Centralized Information Database
Whether the customer contacted you previously over the phone, by email, social media, or another channel, you are fully aware of all of the details. The order number, the client’s prior requests, or any other details they provided the last time they contacted are not required to be shared to your customer support team. In addition to enhancing client satisfaction, this boosts team productivity.
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Enhances client retention
Your customer service staff has a reliable instrument to go above and beyond client expectations and provide first-rate service thanks to a consolidated database. According to data, 77% of consumers believe that building brand loyalty and increasing sales depend on providing excellent customer service. So be sure to stay ahead of the pack and win your customers’ loyalty.
Close, HubSpot, Salesforce, Zoho, Pipedrive, Dynamics, EngageBay, and Freshworks are a few examples of CRM systems.
