The mortar between bricks protects your walls from the weather. Over time it erodes, cracks and falls out, allowing rain to soak into the brickwork and, eventually, into your home.
Repointing replaces worn mortar with fresh, correctly matched mortar. As well as protecting the building, it brings tired brickwork back to its original condition.
A small area of missing mortar soon becomes a bigger, more expensive problem, leading to further erosion, penetrating damp or even wall instability. Pointing done incorrectly causes problems down the line too, so it pays to have it done right first time by someone with years of experience.