Business processes are changing at a rapid pace. More and more are prioritizing automating core procedures to save time and increase efficiency across their daily activities. This can involve implementing a BMP software that connects financial and operating systems. CRM on the other hand solely manages customers and how they interact with your business. Both are considered vital in a modern business framework and do manage to link directly with similar departments. In most cases, these are separate systems working off different platforms. This can prove tricky, then providing all the reasons to integrate the two systems, resulting in an added expense and another onboarding process. If you’re a business trying to choose an all-in-one BMP software — keep reading. Here’s a comprehensive view of BMP vs CRM.
What is CRM?
Customer Relationship Management (CRM) is software for business organizations to manage all company relationships with current and potential customers. It can be used to develop, retain, and acquire new customers. A CRM replaces traditional spreadsheets, databases, and apps that are way too complex to track customer data, making business processes more efficient and sustainable. CRM software details and manages how your customers interact with your business. Mostly used in Sales departments, they were initially used for automated processes and speaking directly to customers.
Benefits of CRM
Of course, there are many benefits to CRM, including;
Quick access to Customer Data
Analytics regarding Customer Journeys
Customer Status Reports
Ability to forecast Revenue
Motivate and Monitor Sales Performance
Amongst many others…
Industries That Greatly Benefit from CRM
Traditional Spreadsheet vs CRM
Here is the comparison table between traditional spreadsheet and CRM.
What is BMP?
Business Management Platform (BMP) refers to a software-based solution that provides a comprehensive set of tools and features to manage various aspects of business operations. It can include functionalities for managing workflows, automating processes, generating reports, tracking key performance indicators (KPIs), managing projects, and collaborating with team members. With BMP, business organisations have access to a shared database, where all sorts of data such as finances, accounts, stock level, and reports are stored. A BMP also branches out to Inventory Management, Services Management and other business activities such as Production, Distribution & eCommerce, Delivery, CRM, etc.
Benefits of BMP
Similar to CRM software there are also many benefits to implementing an BMP software, including;
A single shared space for all financial and operational data.
Simplified reporting processes
Access to better financial and overall business forecasting
Cut-down in manual data in-putting procedures
Greater financial control
Industries That Greatly Benefit from BMP
Food & Drink
The Relationship Between BMP and CRM
Do You Need BMP, CRM, or Both?
Every growing business organization will eventually need to own a BMP and a CRM system. Depending on what stage the business is at requirements might differ. A company with a small set of high-value customers might opt to invest in a BMP system, while organizations with a large customer base might consider the opposite. Simply, the most significant difference between BMP & CRM is the access to customer data VS financial + business management data. What most businesses don’t realise is that choosing a BMP that already hosts CRM as a feature, will prove to be a less stressful experience and quicker access to vital business data and analytics. It also proves to be more cost-efficient and productive.