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Cloud Product Information Management: How to Choose the Right Platform?
It is not a surprise, that about 80% of new businesses do not survive beyond five years, and in eCommerce the percentage of projects that do not take off reaches 53%. Then how to survive? What is the advantage of one business over another? The answer lies in the variety of sales channels and existing technologies that can reduce costs, and increase speed, efficiency, and number of sales.
Cloud based product information management solutions are generating a lot of interest because they can do both — increase speed and productivity and increase sales. And most importantly, they provide the same opportunity to improve the customer experience.
So, let’s discover what is cloud based product information management and how to choose the right platform that will really improve the final result — customer satisfaction & number of sales.
What is Cloud Based Product Information Management
What are the Main Differences Between Product Information Management in Cloud and On-Premise Solutions?
Every company that uses PIM software has at least once faced the choice of Cloud-based or On-Premise solutions. Of course, each of these solutions has its own advantages and disadvantages. And in order to make a choice, you need to know, at least in theory, how they differ.
Below, you can explore the brief comparison table between cloud PIM software and on-premise solutions.
| Aspect | Cloud-Based Product Information Management | On-Premise PIM Solution |
| Initial Cost | Lower upfront costs due to the subscription-based pricing model | Higher initial investment for hardware, software, and implementation |
| Scalability | Easily scalable, allowing for flexible resource allocation based on demand | Limited scalability, may require hardware upgrades for expansion |
| Maintenance | Managed by the provider, reducing the burden on internal IT teams | Requires dedicated IT staff for maintenance and updates |
| Accessibility | Can be accessed from anywhere with an internet connection | Access is limited to on-premise networks or VPN |
| Security | Relies on the provider’s security measures, which may vary | Greater control over security measures, but requires vigilant monitoring |
| Updates and Upgrades | Automatically updated by the provider, ensuring access to the latest features | Upgrades may require manual installation and can be time-consuming |
| Customization | Limited customization options compared to on-premise solutions | Greater flexibility for customization to suit specific business needs |
| Integration Capabilities | May offer seamless integration with other cloud-based services | Integration may be more complex and require additional configuration |
How to Choose the Product Information Management Cloud System?
There are many solutions available on the cloud PIM software market, each of which has its advantages and disadvantages. When choosing PIM, it is important to choose a solution that can meet your needs today and will be able to meet them in the future.
What else should you consider before selecting a cloud based product information management partner?
1. Flexibility
Cloud based PIM is valuable because it is one of the critical components of the business. This is true both in terms of technical processes and in terms of interactions with your employees.
The only thing you can say for sure about technical infrastructure and processes is that they will evolve and change in the coming years. That’s why you need to make sure your PIM system can evolve with your business.
PIM As An Ultimate Data Quality Booster. How Flexible Is Your PIM Solution?
How to make sure a PIM solution you are looking to adopt would perform to the max and bring sales-boosting results in the field? Here’s a guide on the main properties of a flexible PIM tool.
2. Compatibility
Another requirement for any cloud PIM solution should be whether it can interact with your current infrastructure. If the PIM on cloud you select can’t easily connect to your internal ERP and the systems of your suppliers and distributor systems, then you are losing the main advantages of PIM. This also applies to POS terminals, electronic catalogs, and mobile applications, etc. Your ideal cloud PIM solution should have connectors to ensure compatibility between all information flows.
Keep in mind that internal changes, as well as acquisitions (mergers), are life situations, so the larger the list of supported systems, the better.
3. Ecosystem
The size and strength of the cloud PIM software’s knowledge base and supporting materials is a huge factor in the long-term viability of your solution. PIM software isn’t a one-time tool for accelerating the growth of your business. They must continually evolve and adapt to support related information systems and technologies.
4. Usability
A cloud based product information management solution should be as convenient as possible for daily use. Try to keep in mind that it will be utilized by a large number of specialists with different qualifications. Just like an operating system or a file management system, the best user interface for PIM is so intuitive that its interface is almost invisible.
At the same time, the sheer volume of product data can be enormous, so the cloud PIM solution interface must provide users with clear guidance on what they should do next, as well as the overall status of the product catalog. Generally, if users feel that they need a separate management tool to improve the data quality of a product, the cloud PIM interface has not passed the “user vote”.
5. Automation
Does the PIM cloud simply give you “another place” to enter information or fill in missing fields? Does it automate monotonous tasks? Does it create opportunities to simplify the process and reduce the time to solve problems?
Choose a PIM system that can do a certain part of the work for you, validate information, track the completeness of catalog publication, and free up your marketing team, which can do more important and necessary tasks.
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PIM for Marketing: Full Guide [2024]
PIM for marketing: unlock marketing success with PIM. Learn how to centralize product data for consistency and engagement.
6. Extensibility
Many companies have very complex processes for introducing, organizing, and marketing their products. The product information management cloud solution you pick should be as flexible as possible and easily integrate with both current system processes and their future changes.
It is critical that your PIM product can adapt to changes in your business processes, rather than trying to adapt the processes to itself! Otherwise, this leads to large and expensive customizations in the process of importing/exporting information.
7. Localization
Do you have a multinational business? Make sure your PIM can adapt to the market and its sales channels in different countries.
Why Should You Try Gepard PIM as Your Cloud PIM Software Partner?
Gepard PIM stands out as the ideal choice for both enterprise and mid-sized businesses. But what exactly makes it a good choice for your business?
- Cost-Efficiency: Gepard PIM multi-tenant architecture reduces onboarding costs for new partners and streamlines deployment, ensuring rapid time-to-market.
- Centralized Data Management: With Gepard PIM, you can maintain consistency across all channels, enhancing the customer experience and boosting sales.
- Flexibility: Gepard PIM platform is highly customizable, accommodating up to 99% of your business needs through tailored configurations.
- Collaboration: Multiple teams can access and contribute to real-time data, improving communication and reducing errors.
- Data Governance and Security: Gepard PIM robust system modules ensure data integrity and compliance, safeguarding your investments.
- Efficiency: Through automation, manual tasks are minimized, optimizing resource allocation and enhancing productivity.
You can deepen your understanding of Gepard cloud based product information management system by discovering our latest case studies or reaching out through our contact form to discover more about Gepard PIM robust product management capabilities.
