In today’s market, whoever wants to be a successful vendor has to supply the customer with the relevant information via the right channels at the right point in time.
Product Information Management is supposed to help with that. It means to organize, structure and keep product information updated. Product Information contains all relevant information concerning the product, including every product text or description and even product photos. There are several providers for Product Information Management systems, a company just has to find and implement the right on to suit their needs. A Product Information Management system helps organizations to comfortably administrate product information and also distribute the information via different channels.
In a world of globalization, a lot more markets are open and the products can be offered and sold in many different countries, therefore the products have to described in many languages. It is not easy to translate all the data without losing any content because of distinctions in meaning.
Also the former mass communication is developing more and more into a target-group-orientated communication. In order to implement that the knowledge of customers’ purchase behavior is essential. Overall that means that a product description is different for every target group. If a company wants to offer their product to a big crowd of people, it needs a specific product description for every one of the target groups, which is a whole lot.
The first advantage of a Product Information Management system is that it supports the whole Information Supply chain within each company process. At the same time it makes sure that the data product relevant is always kept up to date and consistent.
The second advantage is the communication basis of companies with clients or commercial partners. Product Information Management makes it easier to supply them with product information, and the data will always be accurate which will reduce the potential for errors. Mistakes are primarily made by humans. Since this system should be completed with specific allocation of tasks, interferences should be avoided. Also authorization rules support that only those can actually change the system that are designated to do so. The release of the product information can be controlled up to the publishing by a workflow system. A workflow is a sequence of tasks and workflow systems provide the software basis for several people to comfortable work together in a network following such a workflow.
The third advantage of Product Information systems is that it also makes it easier to publish this vast load of information in different channels such as print catalogues, flyer, online, on CD-ROM and on various devices, for example on iPads or iPhones. One main point to remember is that the information has to be managed in a media neutral way, which means that it is not important what the data will subsequently be used for.