For businesses that implemented successful product information management, eCommerce world opens new horizons. In this 101, you will find all you want to know about PIM: from product information management definition to the main reasons why companies need to integrate PIM into their business.
What Is a PIM System?
PIM (product information management) system is a multi-functional tool that serves as a unique repository to store a company’s product data and offers a range of instruments to enrich, organize, and deliver product content across numerous sales platforms and marketing channels.
PIM Solution: What Will My Company Gain While Using It?
Ecommerce leaders implement PIM systems to improve data-related processes within an organization, enhance the company’s performance and deliver an outstanding customer experience. If your company has not chosen a PIM product yet, here are some solid reasons why you should do it ASAP.
Become aligned with all distribution channels
Product information management tool adjusts your product content in line with retailer’s needs and allows you to distribute product data faster and speed up time to market. PIM ensures that your data is delivered to the various marketplaces in the right format and required template.
Set up automated content delivery to retailers
A well-developed PIM system usually has an advanced in-built product content syndication module that allows you to seamlessly adjust your product content to retailers’ data model and automatically push it to external sales channels.
Obtain error-free product content
With the help of advanced data validation tools, it is possible now to automatically identify product content inconsistencies, improve the data gaps, and control the content quality which is published on various sales channels.
Get the enhanced customer experience
In eCommerce, PIM helps you organize your product content understandably and efficiently. It increases the chances of delivering the right product data to the right person at the right time, which facilitates product search and keeps customers satisfied. The solution also serves you when creating compelling rich product content to attract more buyers. Constantly updated and accurate product data creates an excellent customer experience and helps you to build brand loyalty and trust.
Keep your team informed
Having a PIM system as a single point of truth keeps your team members well informed and prevents data-related misunderstandings in a company. PIM keeps the chances of data errors to a minimum and enables everyone in the company to use the same data for work, which makes the process of making business decisions more effective.
Product Information Management eCommerce Benefits
eCommerce businesses make the most of using the PIM product: it benefits operations efficiency, sales and improves the experience of both team members and customers.
Expand sales channels easily
For eСommerce businesses that want to operate on multiple sales channels, PIM solution helps to seamlessly deliver product data to different marketplaces and locales and handle multi-channel marketing, which increases the chances of making a purchase. It also gives the benefit of improved collaboration with the suppliers: you have a full outline of product locations, supplies, delivery information, inventories, and write-offs. What is more important, is that with Gepard PIM you can easily connect to new sales partners in a single week.
Product information management systems automate many data-related processes, eliminate human errors as well as improve data quality. You get a wide range of tools to edit, enrich and deliver product information automatically and save your team members from monotonous manual tasks. Increase employees’ productivity by 75%, as the team members can focus on strategic tasks that add more innovations and value to your business.
PIM can scale up your company’s ROI as it significantly speeds up product launches, delivers your product information adjusted to a variety of marketplaces, and results in sales growth. The accurate and quality product content reduces the percentage of product returns, builds loyalty and trust, which means more repeat sales for your business and an increase in ROI.
PIM system, DAM or MDM: What to Choose
The market offers businesses a lot of software solutions for managing product information. They are tailored for businesses of different kinds and scales.
PIM vs DAM
DAM (Digital Assets Management) products handle a wide range of digital information, owned by a company. DAM suits organizations that operate a big number of digital assets that are frequently created, edited, and shared between company members with different workflows. Meanwhile, PIM systems fit well for businesses with complex and constantly updated product portfolio, dynamic product range, and multi-channel marketing.
PIM vs MDM
MDM (Master Data Management) system holds all the company’s data, while PIM is designed to take care of product information and serves as a powerful sales & marketing tool for businesses. MDM works great for businesses who want to organize all the applicable back-end information and improve data control. PIM offers more opportunities for selling on multiple channels, improving product content, expanding business, and boosting its performance.
You can find out more about these systems in Gepard’s detailed solutions comparison.
How to Choose the Right Product Information Management Solution
The variety of PIM products on the market is constantly growing, which sometimes leads to confusion and difficulties in choosing the right solution.
What to Look for in PIM Features
Here are some crucial characteristics of an efficient PIM product:
- Simple integration. Look for a PIM tool that seamlessly integrates with the existing software ecosystem, which helps you optimize product information management processes. The software should have a user-friendly interface, to comfortably onboard even non-technical users.
- Automated product taxonomy mapping. PIM should be able to adjust all the required product content to your business needs. For this purpose, choose the system with intelligent data mapping algorithms.
- Localization possibilities. One of the important PIM features that allow you to expand your business to different locales by offering product information in the local language of your potential customers.
- Product data syndication. Check if the system can automatically deliver product content synchronized across multiple sales platforms while meeting the data requirements of the respective marketplaces.
- Customization (multi-tenancy) opportunities. Search for a PIM with multi-tenant system architecture. It allows all team members to use the core system while at the same time it can be customized to make the most out of it.
PIM Integration Flexibility
Choosing the proper delivery model is a part of PIM implementation. Here are the most common types:
- On-premises. You, as the customer, are responsible for the technical infrastructure and the platform, including product information management tools.
- SaaS (Software as a Service). The entire stack is the full responsibility of a third party. In the case of SaaS there’s no coding required from your side, which makes it one of the most popular decisions among PIM customers.
- PaaS (Platform as a service). You, as a customer, are in charge of the application layer, while the third party takes care of infrastructure and platform management.
The choice of system deployment type should be based on business needs, and meet the following requirements:
- The system should be flexible enough for frequent customizations.
- There should be an opportunity to onboard tailor-made connections, beyond the available options.
- Strong support of vendors and suppliers.
- Software cost within your company’s budget.
How to Convince My Company Stakeholders to Integrate PIM?
Before investing in PIM software, the stakeholders should consider how the system can benefit different business processes and learn how it can deliver measurable results.
Download this informative PIM guide for brands to uncover the possibilities of product information management for your business or get the free Ebook that can help you make the reasoned choice of PIM software.
If you are searching for a solution that combines all the essential PIM features, including content syndication, smart interface, and intelligent data mapping, look no further than Gepard.
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