The differences and similarities between ERP and CRM software are important to understand and that importance is only going to grow in the future. For example, configure, price, quote software (CPQ), (a software used by sales professionals to provide cost estimates for custom orders) relies upon integration with both ERP and CRM. According to the Gartner report Forecast: ERP, SCM and CRM by Selected Functionality, Worldwide, 2015-2020, CPQ is positioned for growth, with an estimated 19% compound annual growth rate from 2015 through 2020. The growth of CPQ software shows the crucial importance of ERP and CRM working in harmony. It also shows how vital it is that you have a clear understanding of how both ERP and CRM function for your business’ future growth and current efficiency and profitability.
Customer relationship management software (CRM) is a technology used to manage all of your business’ relationships with existing customers and potential customers. It is used to gather customer data and purchasing behaviour, identify business opportunities and sales leads, streamline and automate marketing and sales processes and facilitate better customer support. CRM is essentially a tool which provides comprehensive approach to managing client’s demands to ultimately improve business relationships.
Enterprise resource planning software (ERP) is a comprehensive software that isn’t just customer-focused but focused on every aspect of your business operations. It is a powerful managerial tool that is designed to help you consolidate all of your company’s business functions into a single, easy to use application. ERP systems gather data that is at the core of different key functions (like accounting, inventory, supply chain management, etc.) and presents them to you to make operations more efficient and productive. By making data visible and integrating it across different departments, ERP software can reveal problems in your processes early on and give you the insight you need to fix them.
Deciding between an ERP system and a CRM system for your business will depend on what you do and what you need. If you’re just looking to improve your sales and marketing processes and nothing more – a CRM system should be fine. However, if you’re in a period of growth and want to increase your business’ potential, a full suite of ERP software would have the most long-term, positive impact on your business. Regardless, ERP software is the overall better option since it can be deployed into any business – no matter your goals. Optimizing your overall operations using an effective ERP system means more productivity and efficiency which will ultimately impact customer satisfaction.
Acumatica’s Cloud ERP Software is a great example of ERP and CRM software working seamlessly together. Acumatica’s Customer Management Suite was built into the software from the very beginning. It is not a loosely integrated module like so many other mid market ERP products. From marketing, quoting and sales to delivery and post-sales support, customer information is always up to date and accurate – making it a great option for growing SMBs.
If you’re interested in how Acumatica’s Cloud ERP Software can advance your business in 2019, the Aqurus team is passionate about streamlined implementation and ongoing support. Reach out to us to find out more!