Benefits of Product Information Management (PIM)
Here is a list of some PIM benefits. If you are looking for any of these results then you are on the right track!
- Improve quality of product information
- Improve sharing and visibility of product information
- Increase effectiveness of promotions
- Increase reuse of existing product information
- Increase sales of new products
- Increase speed of new product introductions
- Increase success rate of new product introduction
- Improve level of regulatory compliance
- Improve profitability of new products
- Link MSDS or regulatory design documentation with product data
- Meet retailer mandate for product data synchronization
- Reduce redundant product data
- Reduce time spent to list new products
- Reduce time spent to list promotions
- Synchronize data directly with partners
- Synchronize data with various data pools
- Better control product information processes
- Better enable fulfillment of product information requests from partners
- Better leverage product information for marketing campaigns and advertising
- Better manage manufacturer/retailer relationships
- Centralize product information into one accurate system of record
- Decrease costs due to incorrect order and invoice errors
- Decrease data management administration costs
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