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Enterprise Resource Planning (ERP) is a type of business software that aids companies manage and automate their core operational processes. This can incorporate inventory management, financial accounting, and human resources. Customer Relationship Management (CRM) helps companies effectively manage their customer relationships. The purpose of a CRM system is to help businesses keep track of their customers, manage interactions, and develop long-term relationships with them.
ERP and CRM are crucial for most enterprises as both are business applications that store & analyze data in a related database. Both applications can be delivered through an On-Premises model or in the form of Software as a Service (SaaS). The vendor manages the software in the data center, and customers can easily access it through the cloud from any part of the world at their fingertips.