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.