Waiting for the Semantic Web: Product Information Management Perspective

“People want to be a part of something that is the future”

Marc Benioff, Behind the Cloud

Anyone who has just discovered the concept of Semantic Web wonders why, despite the apparent simplicity and usefulness of the concept, its deployment takes such a long time and still does not produce any noticeable effects on business. Why a framework that allows data to be shared and reused across application, enterprise, and community boundaries remains only a concept rather than a dominating standard? Continue reading “Waiting for the Semantic Web: Product Information Management Perspective”

Why data quality is important to reduce costs? Learn how Actualog supports cost saving in procurement.

Today many businesses are launching cost reduction initiatives.

Procurement optimizations has a significant cost-saving potential. Procurement consolidation, contract management, category management and other initiatives need special tools. It is required to ensure purchased products data quality too conduct spend analysts and support the consolidation.

Actualog  supports cost-saving initiatives in global companies. On the buy-side, product sources from suppliers is often inaccurate and incomplete. The imperative here is to ensure a single version of the truth regarding product to be used in all information systems. Large corporations procuring hundreds of thousands items and using multiple information systems are constantly faced with this product information management challenge. PIM initiatives drive procurement savings and reduce working capital by refining, consolidating, and centrally managing product information.

Learn more from our presentation.

Why there is no Product Information Management without Party Data Integration

The Master Data Management world stands on two pillars: Party Data Management and Product Information Management. There are specific solutions designed to manage customer data or products information.

In fact, Most MDM initiatives are focused on a single type of Master Data. The most common areas are Party Data Integration (including Customer Data Integration, CDI and Supplier Master Data Management) and Product Information Management (PIM). Solutions that allow managing information in multiple domains called multi-domain MDM.

Actualog is a Product Information Solution.  Initially we were planning to focus on product information only. However, it became clear immediately that without company data quality it is impossible ensure product data quality. We have to know who is a producer for brand products, and we have to put a B2B product in context of its business environment, distributors, customers, service providers, research organisations. It means that we have to build integration with external systems and (or) implement functionality in Actualog to manage information about customer, suppliers, distributors, service and research organizations and other parties.

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