What is product information management?
Businesses are faced with the opportunity and challenge of finding new ways to reach and sell to customers. Each additional marketplace or e-retail site means another place you need to send your latest product information and assets. Manual processes that were once manageable with just spreadsheets and email begin to take a toll on teams as they try to maintain accuracy across multiple internal and external platforms.
Without complete, accurate, and compelling product content, it’s hard for customers to find, understand, and purchase your products. And the longer it takes to deliver that information, the less time your products are available to be purchased.
The businesses that organize and connect their product data efficiently not only position themselves to win customers today, but also to adapt to the digital marketplaces of the future. That’s why product information management systems are so important for today’s marketing and product teams.Product information management (PIM) entails controlling all the descriptions, specifications, and digital assets that are needed to promote and sell products. A PIM system ingests data from upstream tools like product lifecycle management (PLM), enterprise resource planning (ERP), or master data management (MDM) systems. It then allows marketers to enrich that data and optimize it for various distribution channels.