In general, one can write a product of sums as a sum of a products:
$$\left(\sum_{i \in I} x_i\right)\left(\sum_{j \in J} y_j \right) = \sum_{i \in I, j \in J} x_i y_j.$$
One cannot, however, in general reverse this process, that is, write a sum of products, $$\phantom{(\ast) \qquad} \sum_{k \in K} x_k y_k, \qquad (\ast)$$ as a product of sums. (In this answer we assume that the index sets, $I, J$, etc., are finite, though with some care we can extend them to infinite sets under suitable conditions.) Note that the factors $x_k, y_k$ of each summand in $(\ast)$ are indexed by the same set $K$, whereas that is not (generally) the case for the sum of products in the first display equation. When they are, we can write the sum of products in terms of a product of sums with a correction term, namely as
$$\sum_{k \in K} x_k y_k = \left(\sum_{k \in K} x_k\right) \left(\sum_{k' \in K} y_{k'}\right) - \sum_{k, k' \in K; k \neq k'} x_k y_{k'},$$
but this is really just a reorganization, and not really an algebraic simplification.
The expression $(\ast)$ can be factored in the sense that it is precisely the standard "dot product" on the space $\oplus_{k \in K} R$ of ordered $|K|$-tuples (with components indexed by some finite set $K$) of ${\bf x} := (x_k)$ and ${\bf y} := (y_k)$ with entries in some ring $R$,
$${\bf x} \cdot {\bf y} := \sum_{k \in K} x_k y_k,$$
though as the notation suggests, this is a definition and again not an simplification per se.