Reading Time: 4 minutes
For most companies in our industry, product data is disorganized and spread across their organization. Data is siloed by region, market, and business system; it’s trapped in PDFs, spreadsheets and SharePoint drives. There’s no central source of truth for product data.
Product Master Data management is all about making sure your business has clean, organized, and comprehensive data for every single product. It’s imperative for businesses because it emphasizes collecting and organizing product data. It’s the critical first step in any successful digital transformation.
Once you’ve collected and organized your product data, it needs a place to live — a central source of truth. This is what a Product Information Management (PIM) system is for — it’s the single system of record for your product data. Cleansed and harmonized product data that’s stored in a PIM can then feed into each of your internal and external business systems, and power every phase of your digital transformation.
Introducing Knowde’s PIM Solution
At Knowde, we’ve spent years solving the product data problem. We’ve worked with over 8,000 suppliers and 250K+ product datasets to establish the Knowde Knowledge Engine. It’s the core technology that powers every Knowde solution.
We take all your product information and documents — no matter the format — and ingest the data with our Knowledge Engine to extract all the relevant product attributes out of the data sources. We structure, cleanse and normalize all the products and their attributes. Then, we map and harmonize all product attributes to a product hierarchy and market-tested taxonomy. Then all the data is stored in the Knowde PIM, the only PIM software built explicitly for the industry.
How the Knowde PIM Interfaces With Your Business Software
A dynamic database of product information, documents, and assets is only as valuable as how it can be leveraged, and the Knowde PIM is designed to integrate with the most common software systems used by chemical companies.
Website & Online Sales
Enable full scale launch of customer experience features on your website. Your customers will now be able to view your full product catalog, effectively search for what they are looking for, browse by markets, technologies, or groupings of your choosing, filter by any product attribute, compare products, view comprehensive product pages, access the latest product documents, place orders for any product, etc.
ERP & Financial Reporting
Optimize sourcing by aggregating a single view of product requirements, globally and regionally. You can also now ensure accurate financial reporting of product sales and purchases.
Accurately associate customer leads and sales opportunities to the right product records. Aggregate a single view of your sales pipeline and sales performance at the product, brand and supplier-level.
How the Knowde PIM Enables Your Teams
Use product data to drive sales, improve customer experiences, and make smarter business decisions.
Shorten the sales cycles and drive organic growth. Enable your sales team to become fully market-facing and bring the entire product offering to their customers. They will be able to easily view all products that are available in specific markets, applications and regions. Your sales team will also be able to easily recommend the right product for an application and identify cross-sell opportunities. Your sales team will be most effective only when they have this powerful information at their fingertips so they can plan for important customer meetings and rapidly respond to customer requests.
Technical Sales & Development
Enable your TS&D team with fast access to application and formulation know-how. They will instantly be able to compare products, know the properties/attributes for every product and identify new applications for your products.
You now have a central repository of product information and documentation. Your CS team can fulfill a vast majority of customer requests (document requests) faster without having to contact multiple internal departments and wait for responses.
Enable your product managers to manage the portfolios. This includes identifying gaps in the offering so they can build the most comprehensive product catalog for a particular market. Conversely, with complete product data readily accessible, product managers can consolidate and rationalize portfolios to effect cost savings and operational efficiency.
Enable your marketing team to know which products to promote, which features to highlight, to which applications and in which regions. Information about the products as well as corresponding literature and other digital assets are organized and linked to each other and can easily be syndicated to other marketing tools and systems.
Enable your procurement team to easily view product requirements globally and across regions, source from the right suppliers, leverage your global scale and create a more efficient supply chain.
Sustainability & Regulatory
Be one of the first in our industry to provide customers with sustainability product attributes, and soon, with the carbon footprint of your products. Enable your regulatory team with all the required documentation, always in sync.
Learn more about Knowde’s Product Master Data and PIM solution and get your unstructured data organized in a matter of weeks.