Enterprise resource planning
Enterprise resource planning (ERP) is business management software—typically a suite of integrated applications—that a company can use to collect, store, manage and interpret data from many business activities, including:
Product planning, cost
Manufacturing or service delivery
Marketing and sales
Shipping and payment
ERP provides an integrated view of core business processes, often in real-time, using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across the various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information flow between all business functions, and manages connections to outside stakeholders.
Enterprise system software is a multi-billion dollar industry that produces components that support a variety of business functions. IT investments have become the largest category of capital expenditure in United States-based businesses over the past decade. Though early ERP systems focused on large enterprises, smaller enterprises increasingly use ERP systems.
Customer relationship management
Despite the general notion that CRM systems were created for the customer-centric businesses, they can also be applied to B2B environments to streamline and improve customer management conditions. For the best level of CRM operation in a B2B environment, the software must be personalized and delivered at individual levels.
- B2B companies have smaller contact databases than B2C.
- The volume of sales in B2B is relatively small.
- In B2B there are less figure propositions, but in some cases they cost a lot more than B2C items.
- Relationships in B2B environment are built over a longer period of time.
- B2B CRM must be easily integrated with products from other companies. Such integration enables the creation of forecasts about customer behavior based on their buying history, bills, business success, etc.
- An application for a B2B company must have a function to connect all the contacts, processes and deals among the customers segment and then prepare a paper.
- Automation of sales process is an important requirement for B2B products. It should effectively manage the deal and progress it through all the phases towards signing.
- A crucial point is personalization. It helps the B2B company to create and maintain strong and long-lasting relationship with the customer.