Product data is incredible and overwhelming. So are its amounts that have to be managed by any eCommerce company that wants to stand the competition.
With the development of product information management solutions and their constant magnification, product content is no more managed manually. Digital solutions now can automate any data-related processes – from data collection and enrichment to its distribution to any possible sales channel. It’s fast, secure, state-of-the-art, and, of course, not for free.
So how much does a PIM cost? Product information management tools can have significantly different prices and depend on a lot of factors like the business domain you operate in, a type of company, the number of SKUs, content types, data input, output sources, and your functional requirements. And it’s no wonder why it is hard to find a clear and precise table with the prices for PIM. Given the multitude of factors affecting the cost, the monthly payment may vary in the range from one hundred to dozens of thousands of dollars.
The PIM cost can be divided into one-time costs and ongoing costs. Not all of them apply to small, medium, or large businesses. Some types of costs are related only to companies of a certain scale.
- Conception costs.
- Evaluation costs.
- Setup costs.
- Costs for acquiring the licenses.
- Implementation costs.
- License costs.
- Hosting costs.
- Maintenance & Support costs.
- Further development costs.
PIM price calculator is a simple tool that gives you an approximate price of a product information management solution depending on your requirements and requests. Generally, most of the PIM online calculators that are found on the Internet are made in the form of a questionnaire that helps PIM solution providers learn more about your needs, current product data management processes, and capabilities.
Let’s review the main factors affecting the price. The industry the company operates in influences the choice of module functionality that might be useful for this exact business. The industries where a product information management system can be involved are home appliances, electronics, FMCG (fast-moving consumer goods), construction products, fashion, DIY, pharmaceuticals, and many others. Product data, such as number of SKU (including variations such as color, sizes, etc.), number of categories and attributes per category, and types of product data (images, videos, price and stock, documents) is required to get an idea of complexity and functionality of the product that will fit your business needs.
The number of integrations and input/output source configurations is one of the crucial factors influencing PIM cost. It can be easily explained: each integration, connection, configuration, and input/output channel requires extra resources from the PIM provider. If you are interested in any out-of-the-box software functionalities, it’s important to notify providers about them, as those features might not be included in the core system and qualify as add-ons. Remember that the PIM calculator will not estimate exactly how much a PIM is worth but rather will provide the solution providers with enough information to analyze your needs to give you an initial ballpark price offer.
The hidden costs of product information management software usually arise if you are buying a package version. Generally, the additional costs are associated with:
- Integration/connection fees;
- Supplemental customizations or workflows, complex configurations;
- Add-on features that can only be set up for extra fees.
Managing large amounts of data in a highly-digitalized environment is a challenge for companies of any scale. Finding the right PIM solution is yet another one. Want to learn how PIM can benefit your business and estimate the solution price? Book your free personalized demo now.