Organizations today cannot survive with business in single platform. They need to be addressing the ever-changing requirements of the consumers and the market. With the offline and online channels merging, the potential for omni-channel retailing is on the rise. Thus it calls for seamlessly integrating all the channels and providing the same consumer experience across all channels.
The e-commerce market is constantly developing with new demands from the connected B2B buyers. The market is shifting towards the mobile space at a fast pace. It is required to move and act promptly when new business opportunities arise. PIM makes a business adopt an agile approach and act according to the market requirements.
In order to keep track of the ever-widening collection of catalogs and product lines, a business needs a good Product Information Management (PIM) system. A business, whether big or small needs, PIM because of the advantages it offers. A PIM system saves on costs and time and streamlines the product inventory. It helps in expanding the customer base and exploring new channels and targeting geographical markets. PIM gives you an international edge over the competition in the globalization of e-commerce market.
The multitude of data involving technical and marketing information can be handled easily with PIM. It might include videos, product images, labels, PDFs, metadata, pricing, comments, ratings, descriptions and other attributes. One can update their website and mobile site all at the same time and at any time thus presenting the latest information to the customer.
PIM helps businesses make important strategic decisions by keeping all product information and logic centrally located. The central repository contains all the application and product knowledge. It also makes the information readily available for any kind of situation. It helps in engaging with your customer. PIM acts as a tool to enable customers to find the product they are looking for with accurate filtering options.
It enables configuring different workflows for various products and stakeholders. It can also localize based on the country from where the data is being accessed. The product lists can then be language versioned with advanced options. This knowledge of data can be distributed to the sales representatives and product specialists. An updated and precise product information and logic can be maintained. This in turn reduces the time to market for all products.
PIM recognizes that every company has different needs and objectives and is unique in nature. PIM has the capability of supporting any type and size of company. It can also serve any organization with any stage of PIM readiness. It helps in taking a business objective based approach with each of its customers. It considers where a business is now and where wants to be and accordingly develop a strategy for it.
With PIM in hand, one can look at contextualization and adaptation of their organization scheme depending on the customer and the visitor behavior. One can thus hope to render well on all the points of sale.