What are the advantages of storing product data in one place?

Online sales platforms and some companies often struggle to manage the information of various products in their catalogue. Accessible in different departments, this information is shared with multiple international contacts. How do they manage their product information? They do so with a PIM (Product Information Management) software package. This software package allows the storage and grouping of all product information.

Centralization of data

The first advantage of Product Information Management (PIM) is the unification of the data of each product in a single place. This centralized system makes it possible to combine technical information, marketing strategies and sales materials for all products. Consistency is fully guaranteed. No more struggle with updates from 3 separate systems and Excel spreadsheets on the networks! PIM offers the chance to edit product content once the user is connected to it. As a result, recent information will be immediately accessible and up-to-date. Reliable and solid data allow the user to feed information from suppliers directly into his own system.

Multi-channel communication

In order to benefit from multi-channel communication, the centralised information must remain usable. Product Information Management is therefore able to communicate with other systems. In addition, this system allows data to be imported or exported and synchronised with them. Thanks to PIM, it is quite possible to share product information since it is all available on all channels (such as online shops, physical sales outlets and marketplaces). By managing the data in multiple languages, this system makes it possible to distribute the data to international channels. 

More economical

A tool for decision making, product information management offers the possibility to generate more advanced reports on product ranges. These reports can then be used to determine the product portfolio of the company and to develop a more appropriate strategy. In terms of savings, PIM reduces the number of requests and the time it takes to launch products, as well as the time it takes to resolve media. All this is possible thanks to the rich, reliable and up-to-date information provided by the software package. In addition, it increases the company's competitiveness and performance. Not to mention the fact that it increases sales within the company.
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