About Product Information Software
The implementation of Product Information Software or PIM ERP integration would be perfectly beneficial for eCommerce organisations. When it comes to selling across numerous sales channels, the information included in your ERP system is crucial. Sending to internal sales reps, field sales reps, manufacturers, e-tailers, as well as marketplaces and direct-to-consumer websites, is a part of having a multichannel organisation.
It can be challenging to manage all of these channels while simultaneously producing interesting marketing material; however, there is a explanation that can help you to streamline your operations.
A solid basis for both SKU information and product content is established when your ERP system and Product Information Software is integrated. This is a powerful eCommerce combination.
The Fundamentals of an Enterprise Resource Planning System
An Enterprise Resource Planning (ERP) system is important for the administration of a wide range of procedures. Everything about an eCommerce firm, from production to product design, is under the supervision of the eCommerce business manager. The resource in this situation is the product itself, as well as all of its associated data. In essence, the ERP is the starting point for the product life cycle.
ERP systems are available in a variety of configurations, ranging from on-premise to cloud-based and everything in between. Cloud-based ERP is saved on a cloud server, which is becoming increasingly popular due to its flexibility and ability to carry backup data.
Cloud-based ERP has surpassed on-premise ERP in popularity due to its superior ability to store vast volumes of dynamic product data, analytics, and information from multiple departments in a secure environment. Other ERP solutions may be a combination of the two, a system that may be tailored to the specific needs of the organisation in question.
What kinds of businesses can advance from an enterprise resource planning system?
If you feel that enterprise resource planning software is only for huge organisations, think again. ERP is being embraced by an increasing number of small-to-medium-sized enterprises because they recognise the perk it provides in terms of saving money and time over time.
What kind of information does ERP handle?
ERP is a jack-of-all-trades that can do everything. Enterprise management, as the name implies, is the growth of consolidating and commanding every moving aspect of a company. Generally speaking, enterprise resource planning (ERP) integrates many aspects of the product creation and maintenance process throughout the supply chain. Some ERPs may specialise or excel in some areas over others, and this is reflected in their pricing.
The following is a list of commonly used ERP system features:
- Sales and production are intertwined.
- Analyses based on consumer purchase patterns
- Relationships with customers
- Inventory and stock management
When selecting Product Information Software, keep in mind how well it will connect with your enterprise resource planning system.
Although an ERP is suited for many tasks, it is not capable of all tasks when it comes to delivering high-converting, visually appealing enhanced content for all of your endpoints. It is actually useful for maximising your eCommerce potential because it combines the back-end and front-end, increases omnichannel consistency, feeds in crucial sales data, and assists in the export of pleased that is appealing to customers.
In light of the above, here are the top reasons why integrating ERP and Product Information Software will benefit your eCommerce approach.
1.Ensure that SKU data is shared across systems.
One of the most possible characteristics of an ERP system is its capacity to enable product identification by SKU (stock keeping unit). When SKUs and Product Information Management (PIM) are coupled, they form the foundation for organising, sending, and tracking all products across Product Information Software.
What precisely is an SKU, and how does it work?
Anyone who has even dabbled in the realm of eCommerce is familiar with the word “SKU,” which stands for stock keeping unit. Before we go any further, let us have a look at SKUs in the context of ERP PIM Tool assimilation and what they mean for all of the systems that are linked to the ERP.
A stock–keeping unit (SKU) is the most fundamental element of product management and is used to track and manage inventory. An SKU is a code that is used to identify each individual product. Each letter of this alphanumeric code corresponds to a certain product characteristic. When it comes to identifying what each digit or letter represents in an SKU, each organisation has its own set of rules. To put it another way, SKUs assist internal functions by making product tracking more available.
On the backend, it assists in the management of stock and inventory levels. The importance of SKUs in all operations, not just inventory management, should not be underestimated, and this should be remembered.
The most significant role of SKUs is to facilitate stock and inventory management. Because of this, each SKU is collected from the ERP system in some way. It is possible to give an outstanding client experience since your ERP system handles inventory and gets sales data. ERP automatically checks the stock level of a product based on its SKU and does it without a hitch.
In many circumstances, the ERP will automatically order additional inventory without the need for external intervention. There will be no client unhappiness as a result of this process. Additionally, it saves time.
What is the significance of stock keeping in ERP and Product Information Software?
To begin with, linking ERP and Product Information Software instantly populates the PIM with all existing and new product SKUs as soon as they are created.
In fact, PIM Tool organises products by SKU, which serves as the key identifier for each product. A direct effect of this is a reduction in the amount of time necessary to transfer product SKUs across distinct eCommerce platform environments.
Without a product information management system, it is basic to manually populate each channel with SKU and related product data. When ERP and Product Information Software are connected, product management becomes more efficient and effective. Also included is the ability to streamline order procedures as well as command overall inventory processes.
Product information is managed through the use of SKUs.
An SKU already provides information about the most important attributes of a product. The outcome is that it is easier to establish products on PIM and across all distribution channels as a result of this.
Consider the case of a corporation that sells hoodies. HD-MN-BL-40 can be the SKU for a large, black, cotton men’s hoodie with a drawstring hood. It is important to note that each element of the code reflects a property (HD for product or hoodie, MN for men’s size, BL for colour, 40 for US size big, and so forth).
The process of developing SKUs is highly subjective. In other words, it is highly dependent on how a corporation defines the characteristics of its products. Therefore, even though the product is quite identical, the SKU for a product from one firm may appear completely different from the SKU for a product from another company.
Now, how do SKUs aid in the development of information management in Product Information Software? SKUs, on the other hand, serve as a foundation for categorising products and determining important qualities in a product information management system. Because the alphanumerical patterns remain the same when items are transferred to Product Information Software, it is straightforward to arrange products by family and variant when using PIM Software.
Order management is important.
ERP systems give eCommerce businesses a bird’s-eye view of all orders that come into the business. Product codes (SKUs) allow you to keep track of all sales and manage the subsequent order processing operations. When using SKUS, it is much simpler to keep records of order information across many platforms. When Product Information Software and enterprise resource planning (ERP) are linked, it is straightforward to detect which product pages are getting the most interest using the SKU.
Administration of inventories
Unlike ERP, which manages items based on carry levels and order behaviour, Product Information Software maintains products in a more proactive manner. In fact, the purpose of product information management is to orchestrate product taxonomy. This is the process of categorising products based on the characteristics that they possess.
Product Information Software is concerned with the establishment of relationships between products in order to maximise marketing and content dissemination. It accomplishes this by offering an area for product qualities and specifics to be entered.
At the most basic level, ERP automatically updates stock information on product pages through the Product Information Software. By consolidating a multichannel firm, you can assure that all sales channels are up to date in terms of product availability almost immediately after implementation. As a result, disappointed buyers are prevented from realising that a product is no longer accessible until it is too late. Based on ERP estimations, customer support professionals can assure precise estimates of when products will be delivered.
2. It is simple to send information to retail partners.
Sending product information to retailers and distributors may lack a significant amount of time and work. To gather the information and format it before delivering it requires a significant amount of time.
Furthermore, there is a great deal on the line. After all, merchants and distributors are, in essence, your clients or clients of clients. In spite of the fact that you are handing these partners your product data so that they can resell it, you are still selling directly to them. Therefore, every piece of product information you supply should not only be clear and thorough, but it should also include marketing content that helps to sell the product itself.
ERP systems retain vital but rudimentary product information.
This is insufficient for pages that are intended for customers. The purpose of Product Information Software is to take clean data, maintain it, and supplement it in order to produce more descriptive and persuasive information. The attention of this is obvious when filling out item setup sheets – and it becomes even more complicated when all of this information is dispersed throughout an organisation.
Product Information Software and ERP systems are used to create item set up sheets.
It is a type of blueprint document that is tailored to a certain channel and contains all relevant product information. Sheets like these are excellent for shipping products and data in large quantities. In most cases, organisations must fill them out in accordance with retailer requirements, as each retail terminal has its own set of norms and needs.
For item set-up sheets, what kind of information do you require?
It is necessary to use data from both the ERP and the Product Information Software in order to fill up item setup sheets as fast and successfully as available.
Specifications, Characteristics of the product: Both ERP and Product Information Software make this process clear by reducing the need to search for and locate numerous bits of data, which would otherwise be required.
As an example, an enterprise resource planning system (ERP) will supply the Universal Product Code (UPC), which makes it easier to sell a product through external sales channels. It is not the same as an SKU code used internally. Moreover, ERP gives Global Trade Item Numbers (GTINs), which are used to trace products along the whole supply chain, for companies who sell their products internationally.
When it comes to deciding the logistical components of shipping and supply chain operations, product requirements are also demanding. Retailers and distributors must be aware of any specifications, such as product dimensions, that apply to their merchandise.
Product Information Software simplifies the process of creating item set up sheets.
When ERP and PIM are integrated, logistical data may be readily imported into item set-up sheets, resulting in increased efficiency. When it comes to creating those sheets for delivery to retailers and distributors, a Product Information Software is crucial.
Wholesalers, retailers, and distributors demand access to all available information in a timely and convenient manner. Typically, retail partners are confronted with their own set of difficulties. Many are responsible for managing thousands of product SKUs that come in from a range of B2B partners using a variety of supply chain and fulfilment techniques.
3. Integrate pricing and marketing efforts.
A precise piece of information is required by every sales team in order to capture a prospect’s attention and complete a deal. Unfortunately, because of data silos or an inefficient technique of providing sales agents with approach to product information, it can put a strain on the productivity of those who work in them.
When it comes to increasing the efficiency with which they conclude agreements, sales representatives want proper pricing and marketing information. Surprisingly, ERP is responsible for managing product costs, earnings, and pricing, but Product Information Software is responsible for managing marketing data. In other words, the integration of PIM and ERP systems is important to the retention and growth of sales.
Sales need pricing information from the ERP system.
Let’s face it: determining pricing in the eCommerce world can be difficult. A range of pricing alternatives may be available to organisations, for example:
The lowest price that has been advertised
Pricing based on a user’s role
Pricing is determined at the wholesale level.
Pricing is determined by category.
If you sell through a number of various retail channels, you most certainly have different pricing for each one of those channels. To say nothing of having various pricing policies for each customer, which is especially critical if you are a business-to-business organisation. Pricing can change from one day to the next.
Keeping track of all of these pricing kinds, as well as other cost-related metrics (revenue, profit, orders, and so on), may be a challenging task.
Unfortunately, this can be challenging for sales representatives who are attempting to keep up with the latest pricing trends. They will, without a doubt, lack the most recent price for all products in order to successfully conclude agreements. This is essential for avoiding error-driven blunders that could result in the loss of a sale or the erosion of client trust.
What is the significance of centralising product data from Product Information Software and ERP systems?
In extension to acquiring new clients, sales professionals are responsible for retaining existing customers. The sales staff is in charge of delivering information to prospective clients and business partners. This information, as well as the quality and accuracy of the information, can make or break a transaction. Customers appreciate this, in addition to receiving a prompt answer, receiving accurate and detailed product information, and, of course, receiving the exact pricing.
The centralization of pricing and marketing data is beneficial to sales since it enables rapid and easy access to price and marketing information. This is crucial for staff efficiency because it removes the time lost, irritation, and stress that are connected with data collecting and entry tasks. Those extra minutes could put off a potential consumer completely. Even worse, erroneous data, particularly when it comes to pricing, may jeopardise a potential business transaction.
Furthermore, many ERP functionalities are not designed to meet the needs of the marketing team. Certainly, the information they require is present, but an ERP system delivers far more information than is required for marketing purposes alone. It is possible that they will obtain the essential data in the form of a product data spreadsheet as a result of this.
In terms of sales, reps are provided with information in the form of a specification sheet, which is inefficient.
Sales teams want centralised data from ERP that can be accessed through Product Information Software.
For the greatest results, product information from ERP should be fed into a product information management system, where both sales and marketing may access any data important to them. Product Information Software provides a mechanism for both to customise the way product data is shown to them. Because of this, sales will have a better understanding of sophisticated pricing, and marketing will have the right database to start enriching raw data.
Product information software provides sales representatives with a variety of tools to help them streamline their work:
- Catalogs for digital showrooms, both print and electronic
- Sales representatives can make use of a self-service database.
What sales teams really benefit from is a self-service database that is tailored to their individual sales. One that they can access whenever they need it through their Product Information Software. Product information management (PIM) access allows sales representatives to have a close-up, concentrated view at exactly the product data that is relevant to them. As a result, it saves time that would otherwise be spent searching for data in a sea of useless and distracting data.
4.Create successful merchandising with the help of Product Information Software and ERP.
In order to develop an outstanding marketing strategy, you will require feedback. With the reporting of sales data and product analysis provided by ERP, you may develop better marketing approaches for PIM. Because ERP allows you to track the success of multiple products, you can use it to predict sales, identify product liquidation, and make data-driven merchandising decisions, among other things.
Sales trends are communicated to Product Information Software by ERP.
Integration with ERP, which handles all accounting, sales, and order information, can make up for PIM’s incapacity to track real-time statistics. In other words, PIM does not receive any sales information from eCommerce outlets. As a result, linking the two systems generates a formidable force – in which Product Information Software and ERP work in tandem to ensure long-term eCommerce success and success.
With ERP sales data, you may have a better understanding of metrics, purchase habits, and revenue generation. You can utilise such data to immediately edit or have an impact on the content of the product in order to make it actionable. Even better, you can use the sales patterns you’ve observed to make predictions about future sales.
Sales forecasting in the ERP system
Based on present patterns, sales forecasting is a useful skill that allows you to estimate or predict the future of your sales. Despite the fact that it appears to be straightforward, it has a major impact on your marketing plan. The sales forecasting feature of ERP serves as a link between back-end administration and marketing on Product Information Software platforms.
Sales forecasts or predictions about sales behaviour can be made using ERP software when it is linked into an eCommerce company’s operations. It is at this point that the ability to strategize for eCommerce success comes into play. You may utilise sales data from your ERP system to make judgments regarding merchandising in your online business.
Merchandise repackaging and repackaging
Monitoring the performance of your products comprises a big chunk of the negative characteristics – when a product isn’t working as well as it should be. Fortunately, there are ways to mitigate these negative aspects.
A product liquidation defines the process of a product losing sales, according to Enterprise Resource Planning (ERP). Overstocking your inventory is not a good thing to be doing. If you can identify when a product’s sales are slipping, you can make prompt judgments on how to deal with the resulting situation.
Consider how you might revise your marketing strategy for such products in order to help them sell more quickly. Alternatively, clever merchandising can be used to promote products that are not selling well.
The integration Product Information Software & ERP provides insight into merchandising decisions.
Merchandising is a wonderful approach to draw attention to products that aren’t as well-known as they should be.
In the context of ecommerce, what exactly is merchandising?
Merchandising is a characteristic of physical retail establishments. However, it functions in the same way on the internet as it does in person. The means of distribution is merchandising in the case of marketing as the vehicle. Merchandising provides a visually appealing product promotion display for your online store, based on sales data from your ERP and marketing methods from your Product Information Software.
In order to be informed visually, at least 65 percent of individuals prefer to be told visually – through photos, diagrams, and other visual means. Nonetheless, let’s be honest: everyone possesses the innate human ability to process visual information more efficiently. Whether it is a window display or the layout of an online business, the aesthetics of the design have a big impact on decision-making. Merchandising is the process of increasing the perceived worth of a product through design and psychology.
Different components of an online store site or a product page can be customised by businesses, for example.
Items that are related or recommended on the website are found through navigation.
Upselling and cross-selling are two types of selling.
Combining Products from a Variety of Categories Landing Pages Number Five. Setup and enrichment of variants can be completed in less time.
Another useful benefit of Product Information Software – ERP connection is the ability to aid organisations in setting up their versions. This is a capability that is not always available.
Product variants are the many configurations of the same item. For example, a shirt will be available in three different colours. Furthermore, if the shirt is offered in five different colours, there will be a total of 15 possible variants based on the varied combinations of its characteristics available.
The more the number of features a product possesses, the greater the number of varieties that can be created by combining them. Each version has its own SKU, allowing it to be managed as a separate entity in the Product Information Software. Because of this, when processing orders, ERP must distinguish it from other variants of the same order.
Establishing variants is proving to be tough.
Increasing the number of product options available can surely be a significant advantage. Customers appreciate the fact that they have choices. The problem is that, just as having too many versions may overwhelm an undecided buyer, having too many variants may overwhelm an organisation.
However, while SKU makes it easier to identify and monitor product variants in ERP, the ERP offers little in the way of enriching and categorising variants for the benefit of the consumer. In reality, this procedure can be more difficult to complete than you might expect. This is an extremely important factor in ERP.
Identifying the value of product variants requires organisations to weigh their resources against the return on investment they expect from the product. Things become needlessly complicated when you have an excessive number of versions or an ineffective variant management approach.
5. Configure ERP versions and enrich them in Product Information Software.
Product Information Software variants are imported into ERP, along with variant pictures and supplementary variant content from the PIM repository. Direct-to-customer websites and digital showrooms require SKU data in order to be successful in ecommerce.
Product Information Software can assist you in ensuring that your product variants are operating optimally in the market.
ERP presents pricing information for each version in a table manner.
When adding a product to the catalog, pricing information must be provided on the page. This pricing information is not available through Product Information Software. ERP, on the other hand, does, which is why integration between the two is so important.
What function does Product Information Software play in variant products? Once configured in ERP, variants must be further enhanced in PIM to give a fantastic customer experience that promotes sales. Product Information Software provides all of the tools necessary to produce variation photos and create variant-specific text, as well as to display them elegantly on digital catalogs, showrooms, and pages.
For variant information, all distribution channels require SKU data. However, this is only one side of the coin. For eCommerce success, Product Information Software and ERP integration make the process of creating product variants easier.