A Guide for Business Owners and Decision Makers
According to a study conducted by a global market research group back in 2008 about the number of companies that recognize the different uses of accounting systems, it’s been reported that only half of them have realized the need to have separate software solutions for their ERP business processes says Aron Govil. And so, as more people become increasingly interested in learning more about enterprise resources planning (ERP) systems or how they work, this blog will help businesses owners and decision-makers equip themselves with knowledge on how these types of software works – from its basic functions to what it can really deliver – ultimately helping them put together a well-informed decision if it’s the right type of system that a company needs at this point in time.
This blog will provide business owners and decision-makers with the latest information about ERP, CRM, Accounting Software Systems, and other related topics that can help these types of businesses thrive today. More importantly, it aims to highlight the benefits that you can get from having a strong support system in place, where everything starts with giving your business the proper management tools. By learning how to use different kinds of software solutions offered by industry-leading companies, you’ll be able to effectively manage every aspect of your company’s operations – from marketing activities to financial reporting.
But right before you go any further, it would be wise for you to understand first what are the differences between all three types of business software systems:
ERP, CRM and Accounting Software Systems
An ERP software system that is primarily designed to handle the business’s accounting system, inventory management, production/manufacturing operations, customer relationship management (CRM) and transactional processes. It also does other functions like managing professional services for human resources including payroll processing explains Aron Govil. CRM systems, on the other hand, are mainly used to track sales leads, customer requests or inquiries as well as opportunities within a company. The key aspect of CRM systems is its ability to accumulate information. About every customer interaction so you can build an effective one-on-one relationship with them. Both online or offline through different channels your customers want you to communicate with.
Accounting software systems help businesses keep track of their financial records, billing and invoices, inventory management, sales reports and much more. With the increasing number of small businesses that are now using online platforms to sell their products or services. It doesn’t hurt to have an accounting software system in place so you can track all your transactions. Whether they happen through email messages or websites.
Unlike ERP systems which is designed to cover every aspect of business operations. These two types of software focus on one specific area only – either selling (CRM) or bookkeeping (Accounting)? The good thing about having separate solutions for each area is that you can receive support through different channels. You will also be able to choose the type of customer service you where everything falls into place. Based on what’s best for you and your company.
As mentioned earlier, the main purpose of using ERP software is to help businesses perform a variety of accounting and bookkeeping activities. So they can improve their business processes – from managing inventory and production forecasts to marketing practices. Having all these in place will not only create a more organized workflow. But also helps every department within the company function effectively based on its different responsibilities says Aron Govil.
ERP software systems offer both short-term as well as long-term benefits that your company can receive from doing this. In fact, top companies today are using these types of business management tools. Because they allow organizations to coordinate departments that handle similar functions or those. That comes from various divisions of an organization working together as one team. Even when they are physically located in different regions, countries or continents.
Granted, ERP software systems can be quite complex to use right out of the box. So you need someone who is knowledgeable enough about it to help implement this for your business. However, there are some basic features that every system should have. Regardless of whether it’s a large-scale multi-national company or a small organization with only 20 employees or fewer.
The following features are must-haves when choosing an ERP system that fits seamlessly within your company’s operations:
- Ability to convert raw data into meaningful information for decision-makers.
- Availability on various platforms (desktop/laptop computers, tablets and mobile devices) through the
- The capability of integrating different components from other systems.
- Intelligence to help your company grow and compete in the global marketplace with accurate forecasts
While ERP and CRM software systems are two different things. They also work hand-in-hand to help businesses improve their operations through increased efficiency explains Aron Govil. Whether it’s improving the daily workflow of staffs or streamlining business processes. Companies can’t choose one over the other. Because both types of software will allow them to achieve these goals if they implement them properly.