Measurable Values

Executive Summary

Enterprise Resource Planning (ERP) is a program which is specialized in the management of a business by finding, storing, managing, and interpretation of data. The ERP makes available an overall overview of business activity using the database, which is controlled and managed by the management system. Business Intelligence (BI), on the other hand, refers to the methods or concepts used to better and uphold the quality of a company’s decision-making process (Polkowski, 2016). BI is a platform which presents data in a specific, useful, and correct format that is suitable for each client in a manner that enables them to an informed and efficient decision. BI technology is broken down into two categories; thus, the internal and external sources. Examples of internal sources include but are not limited to data files and databases in the company’s assets. The external sources, on the other hand, comprise of data and information which is exclusively obtained from the internet (Polkowski, 2016). Last but not least, Customer Relationship Management (CRM) is a program with an organization which is orchestrated to meet the interests of a client. It is per se software or an application framework which allows augments a firm’s profitability through automation of vital processes in the organization.  

In the business industry, there is always a wind of confusion among Enterprise Resource Planning (ERP), Business Intelligence (BI), AND Customer Relationship Management (CRM) systems. More often than not, many people think that ERP and BI are the same. However, the latter is a more advanced form of technology that, even though it depends on the former, it also relies on the information and data from the back office (Polkowski, 2016). What is more, it is not in the public domain that the functionality of CRM can be integrated into BI and ERP solutions. Besides, the maximum and optimal utilization of the potential of CRM and BI systems require one to embed them into a central system which supports a company’s management. Proper management of the central system is an essential factor behind the success of a business because it is a vital aspect of the internal IT infrastructure of an organization (Polkowski, 2016). In this paper, the author uses a chart to explain and compares the elements of each system and the role of each system in the management of the company. Additionally, the paper describes how the system creates a successful partnership between the business and IT.

Figure 1: The table below shows the characteristic comparison of the ERP, BI, and CRM systems.

Recommendations

Since the development and maintenance of the three systems are costly, Phoenix Fine Electronics needs to conduct due diligence when adopting any of the methods. Conducting due diligence does not only enable the firm to evade ending up losing money, but it also allows them to minimize the time it would spend on the projects (Mehta, 2016). Moreover, the Phoenix Fine Electronics needs to employ a dedicated team of analytical and technical experts to gather, examine, and use the comprehensive data which is used in these systems. The experts are needed because handling and customization of the methods is a compound exercise which requires technical skills and expertise.

References Mehta, A. (2016, May 3). BI, SCM, CRM and ERP in a Nutshell and their Relationship. The Medium, p. 5. Polkowski, Z. (2016). The Integration of BI, ERP and CRM System. Research Bulletin the Jan Wyzykowski, 49-63.