Businesses can get a boost with effective product information management solutions. Billions of dollars worth of sales across the world are lost each year due to inefficiencies in supply chain information. Ensure profitability by investing in a solution.
Drive business and manage workflow with high-quality PIM solutions
A Product Information Management system, also referred to as PIM, is a tool used by companies the world over to ensure information is centralised. By having all data harmonised in a single depository, a company’s technical and marketing information for all catalogues can be accurate and accessible.
Product information management has never been more necessary now that so many interactions and transactions take place online. Often a company’s public face is its website and partner sites.
Customers demand clear and consistent information about the products and services they are buying. Huge problems occur when information is inaccurate, incomplete or inadequately stored.
Businesses can encounter long term problems when product information is not managed properly. Errors in invoicing, for example, can cost a fortune to reconcile, and happen all too frequently.
PIM solutions combat errors in data catalogues and streamline the introduction of new items. Companies which opt for PIM remove costly manual processes which slow down business.
For companies planning on embarking on B2B projects, product information management is utterly crucial. Significant money goes waste on projects which overlook the importance of data management and having clear product information.
Between having to manually cleanse information which is not up to date, to trying to implement new information across an enterprise, precious hours and money are lost.
Having enterprise-wide access to detailed product information which captures exactly what the product offers needs to be at the top of any company’s priority list.
Buying decisions stand or fall depending on whether the customer can understand and engage with the product instantly.
With so much choice in the marketplace today, customers will quickly go elsewhere if product information is unclear or inaccurate.
PIM has immense benefits for companies in terms of giving managers the analytical data needed to make strategy decisions.
The accuracy of information has wide repercussions across any business, from the IT department to sales and accounting.
PIM prevents the occurrence of miscommunication or inconsistency which can damage a business.
Ensuring the flow of product data precisely leaves no room for error across the enterprise. The strongest PIM systems encourage collaboration between colleagues and departments.
Furthermore, corporate systems on a local and international scale can be synchronised. Information about suppliers, data on customers and records of sales become available from a single source of truth, ensuring consistency.
PIM systems create a continuous flow of data which follows the lifecycle of the product information.
PIM reduces the timeline of new product information so that companies can enjoy a quicker time to market for catalogues and merchandising. PIM equally improves the customer experience from search to navigation.
Product information management has far-reaching benefits, from making your enterprise more transparent to rendering data less complex. As we move further into a digital future, PIM has become a necessity.