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Posted on Jul 22, 2021 in Blog, Business | 0 comments

How does product data management software help your business?

How does product data management software help your business?

Companies have large amounts of data to process and organise. Inventory, buyers data and supplier information are some of the data aspects that a product data management software helps you manage. A PDM solutions software organises this data that makes it more accessible.

Companies like BizCaps provide a comprehensive master data management that saves your organisation the frustration of perusing through mounts of unorganised data. You can merge your product data from suppliers and manufacturers into your PDM system to ensure data accuracy from all aspects.

Many companies often try to manage large data sets using conventional tools like excel. Using regular tools costs more to the company in the long run as there are greater chances of error. Moreover, managing data on excel requires a high degree of liaison amongst all the stakeholders in the supply chain, which takes up more time. This reduces the overall productivity of the company.

Here are the benefits of using PDM software:

1. Automation

Your organisation can easily automate systems when data is efficiently sorted through a product data management system. Since such systems accurately track inventory, the system can automate your orders from suppliers when the stock goes below a certain number.

2. Increases productivity

It helps you to easily create product listings as it allows you to merge data with suppliers and manufacturers. So, the data you import already has essential information about the manufacturers’ materials and measurements, saving your organisation’s time to enter product descriptions manually.

So, it increases productivity by saving you time in entering descriptions manually, enabling your team to focus more on the other aspects of online listings.

3. Reduces mistakes

A PDM system reduces the manual labour of gathering product-related data from multiple sources – customers, suppliers and delivery agents. Using a PDM, the stakeholders enter the data themselves, which reduces the chance of making mistakes when you manually try to compile the collected data. Moreover, it helps you to eliminate inaccuracy in measuring the inventory by constantly updating any changes.

4. Ensures Cost-Saving

Implementing a good PDM system improves your productivity and reduces operational costs by integrating data from all the stakeholders. The accuracy in data that a PDM solution provides reduces management risk and prevents the cost of bad product data.

5. Improves customer experience

Since all the data related to the product is compiled and organised by various stakeholders, it provides more accurate data to the consumers when they shop. This reduces the chance of returns or complaints by the consumer.

As the PDM keeps a note of the inventory, customers can see how much stock of a product is there and can plan their orders accordingly. The readily available data to the customer about products directly from the supplier gives consumers a sense of control over their purchase that leads to consumer satisfaction.

Implementing Product Data Management software in your business streamlines complex processes and increases efficiency. Moreover, opt for companies like BizCaps that integrate with one or more domains enabling you to collectively access the data of multiple domains in one place.

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