How to Increase Sales Using PIM

pim solutions

Questudio’s central content repository is called CatalogStudio PIM software. It consists of several modules that include PDF catalog management, workflow manager, content management, security, etc. It has all the features required to create, manage, and maintain all product information in one central repository. With Product Information Management (PIM), you can focus on the data that is required to market and sell the products through different channels.

Some of the ways in which PIM helps increase sales are:

1.Enhanced Data Quality

Omnichannel commerce warrants managing a plethora of data across different channels. The data includes product descriptions, product pictures, price lists, barcodes, SKU number, videos, and presentations related to the product. PIM enables you to maintain all kinds of information in an organized manner. This eliminates the threat of mismatched product details and prices which in turn reduces the man hours spent on time-consuming troubleshooting.

2.Higher Multichannel Sales

Today’s customer demands a seamless shopping experience irrespective of the channel. The multichannel retail is expected to offer the same familiarity to the customer be it a supermarket, web-store, catalog, or mobile shopping. PIM allows you to manage product information centrally. You can thus decentralize the sales and at the same time remain in full control. This gives a prospect of increasing the probability of purchase from you with increased number of sales outlets.

3.Eliminating Multiple Data Entry

PIM has a central interface to enter and update product information. The data automatically goes to numerous other systems such as warehouses, suppliers, logistics, etc. This removes the requirement of multiple data entry points. Reduction of overheads lets you concentrate more time and effort towards sales.

4.Faster Product Launches

You can market your products much faster with a product data management system in place. Centralized PIM covers the sales process, technical details, and product details among other things. This allows instant product launches across channels such as retail chain outlets, e-commerce, and m-commerce. You can easily handle franchising and introduce bundled deals. New product introductions (NPI) can be made more frequent, thereby reducing the NPI timelines.

5.Strategic Product Management

You can monitor real time performance of every product or service with PIM in place. It can help optimize purchase, channelize initiatives where the buyers are present, and reduce costs. Diverse product range requires equally diverse product registers. You cannot hope for strategic decision making without a single PIM solution. It enables improvement in operational business processes and analytics. Franchise management, retail management, and inventory management all become an integral part of PIM.

6.Efficient Supply Management

With PIM being in sync with systems like ERP, CRM, and other legacy systems, integrated point of sale becomes a possibility. The efficiency of supplier collaboration can be increased with PIM as it can easily interact with any of the intermediate systems. You can maintain a record of the locations, deadlines, inventory transfers, contact person details, registrations, delivery conditions, write-offs, etc. in a centralized manner.

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