What is product Information Management?
Product Information Management (PIM) is the centralized organization and content enrichment of product information for commercial purposes in different publishing channels.
Systematic product information management benefits both company employees, dealers as well as current and future customers. Product information is often based on cooperation between different actors. With centralized product information management, the information is up-to-date in one place, from which it can be easily and quickly updated and published on different channels.
Product information management is a challenge in many companies. The problem is that product information is scattered across departments and systems. The same information is maintained in many different places, there are several versions of product information, and some of the information is always obsolete or incorrect. Growth in the number of data, the diversity of different terminals, digitalisation of business, e-commerce and multi-channelity will bring added challenges to information management and utilisation. Without a clear data management model, powerful processes, and functional tools, the organization does not have one view of products and all product information. Acquiring, enriching and distributing product information for different channels is also ineffective.
The centralised product information management (PIM) process and tools can address these challenges.