A product data management platform is software that centralizes, organizes, and allows teams to manage product information.
Product data management is a system that enables businesses to consolidate product details — such as instructions, specifications, or materials — in one central place. The product data management platform is where that information lives, giving all areas of the business one single place to access up-to-date product details.
Having a product data management platform in place is especially important for businesses with large numbers of products or various channels through which they sell those products. With complex systems like this, it’s easy for product information to become outdated, inconsistent across channels, or misplaced.
A product data management platform helps businesses avoid these issues by gathering, organizing, and managing data within one place, giving everyone a single source of truth for product information.
Many platforms also allow businesses to establish workflows and processes for handling product information; analyze data around products within the platform; and improve the efficiency of their value chain.