Effective product information management is a high priority for most organizations today. And most lack a dedicated approach to PIM. Those that do not invest and improve will fall behind. It’s no wonder why. Research shows that PIM can improve efficiency and increase sales of products. These findings illustrate precisely why it is a critical business process and requires the right technology. Many organizations now find a large volume of errors when using spreadsheets to manage product information. Top performing companies implement a dedicated approach to PIM to encourage business users to forego dependency on IT and use PIM in their own roles to improve product information, drive sales and increase customer satisfaction.
Product information management (PIM) is a simple concept: It is the processes, information and technology used to manage all product information. But most organizations lack a consistent business process to manage product information, support the goal of increasing sales and improve customer experience. This can be readily accomplished by using the right technology to reduce errors and mistakes. But selecting the right tools requires focus and knowledge of the skills needed to operate PIM and the right design to utilize business and IT resources effectively. Just depending on spreadsheets will not meet today or tomorrow's needs for product information management. PIM supports a range of business processes and can improve the outcomes and efficiency of every organization.