ERP vs CRM: Which Is Right For You?
While technology comes with various benefits, the biggest con is keeping the information of your company safe from hackers. One of the largest hacks actually happened to a large company, Yahoo!
It compromised 3 billion people in 2013. In 2017, every customer during that time frame had been breached.
You might wonder how you can protect yourself and your company. First, you’ll need to decide between ERP vs CRM.
Which is right for your company? Read this guide on which is right for your company today!
What Is ERP?
IFS Cloud ERP stands for enterprise resource planning. You’ll have multiple different business processes including inventory management, distribution, and finance. This is in order to centralize information.
Many ERP systems come with both back and front-office information. This will help you improve your data exchange and communication.
What Is CRM?
They store and record every piece of information. It’s shareable and standardized in the organization. They’re great for managing communication, invoices, etc.
They’re great for sales positions because they:
- Find new leads
- Manage and automate marketing campaigns
- Streamline the sales process
- Find purchasing patterns
ERP Benefits
All operational and financial information can be stored securely in a database. This means that employees can take a look at the information without finance teams having to perform reporting. Businesses can make data-backed and faster decisions that can impact different parts of the company.
CRM Benefits
You can track all customer interactions in one system. It can help you make a better decision on which customer to speak with.
You can also see how the sales teams are performing as well. It’ll also give you information in order to determine how to service customers in the future.
The Difference Between ERP and CRM
It’s best to have both for your organization. CRM is more about customer data, while ERP is about the finance department. The main difference between the 2 is the scope.
Some ERP systems will actually have a CRM component. Keep in mind that CRM systems don’t have ERP components. It doesn’t handle transactional data.
Although they’re very different, they’re similar since they analyze and store data through a relational database. The vendor can manage the software in its data center.
Customers can access the information through the cloud. As you grow, you’ll want to have both an ERP and CRM system for your business.
Or you’ll need to have a single platform that has both. Other systems instead of these might hold back the growth of your company.
Exploring the Similarities and Differences Between ERP vs CRM
After exploring this guide, you should be well aware of the similarities and differences between ERP vs CRM. It should help you decide which is the right option for you.
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