Have you ever wondered what NetSuite software is best to use for your business? There are two types: Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). Both these platforms are used in similar ways such as organizing operations and improving business functionality. In order to decide which form to use, they should be looked at separately to see the distinctions and similarities they may have as they can also be integrated and overlapped.
What is CRM?
To keep it easy and simple to understand, CRM is basically a platform to keep business interactions and connections between the company and their current and potential customers. This software is used to organize, operate, keep sales in sync, marketing, and customer services. CRM has developed to improve the customer experience by keeping customer loyalty which leads to a more valuable business. With this improvement, CRM is able to increase profits as it produces a greater sales volume.
What is ERP?
Instead of managing customers, ERP manages the actual business processing systems. The sales, accounting, human resource services and other processes work together as one system. It focuses on reducing overhead costs, reduces capital spending and makes business processes more efficient. With ERP, your team will be able to input all information into the system which would allow snapshots of real-time data of the enterprise. Alerts are also notified when problems arise in all areas of the system. This means the business will be able to focus on business data rather than its operations.
How do you decide between CRM and ERP?
Now that you know the difference between CRM and ERP, it’s now time to decide which one of these NetSuite platforms are best for your business.
If your company needs better performance on organizing the marketing, creating data reports of customer interactions, automating customer services, or even prioritizing leads, a better option for your business would be the CRM software.
Here is a more in-depth list of what CRM software does to manage front-office activities but is not limited to:
- Manage sales
- Streamline sales processes
- Share marketing and sales collateral
- Learn the trends of which products sell best during a specific time period
- Manage business contacts
- Manage business leads
- Share customer profiles
On the other hand, ERP is considered best if your company manages the back-office activities and tasks. This would be more appropriate for supply chain management, accounting and financial applications, distribution process management and so on.
If your company does most of the following, then ERP is the best choice for you:
- Improve accuracy of financial data
- Reduce redundant tasks
- Standardised business processes
- Lower purchasing costs
- Automate employee-life cycle
- Facilitate better project planning
There you have it! A guide to choosing which NetSuite platform is best for your business. If you are still in doubt, please don’t hesitate to contact us at email@example.com for more information.