What exactly is a PIM?
Each product you sell or have in expansion has data linked with it. Depending on your sector, this could include chemicals, photos, copyright information, registrations with industry groups, or permissions from other organizations. Plus, of course, your pricing advice, sizing options, tax, and so much more. A plethora of information — for every single product. PIM buildups and manages all of that critical information in one location. This establishes that your employees have access to the most up-to-date information. What do you look for in a PIM Software? Read in the blog
Product Information Management (PIM) is essentially the process through which all of that information is managed.
PIM systems are predicted to rise by more than 25% by 2023 and for good reason. Data may be updated and shared in real-time across your institution and channels — it’s tremendously capable.
Does a PIM System, on the other hand, make sense for a small business?
Your customers demand detailed and reliable information about your items to help them make purchasing choices. Getting that information into their hands might be a challenging process for a small firm, but it doesn’t have to be. Some small businesses try to carry all of their product information in a spreadsheet, or a series of spreadsheets. As your product line expands, the spreadsheets soon get uncontrollable.
If you have numerous users accessing the spreadsheet, mistakes will undoubtedly occur. One of your Product Managers will have an old version of the spreadsheet and will accidentally publish an out-of-date product confession to the website. Or a supplier will send you fresh information that will not be saved across all revisions of the spreadsheet.
These and such occasions will suggest that you have outgrown the spreadsheet approach to product management. It is time to think about PIM software. You may be concerned about the expense and complexity of product information management, which is natural. Fortunately, there are several alternatives to fit various business sizes. PM Lite, for example, is a pre-configured, entry-level system aimed at small to medium-sized enterprises.
What exactly is personal information management (PIM) software?
Instead of having many spreadsheets storing erroneous and frequently out-of-date information, your PIM software can house it all. It will be the single area where all product information is stored, ensuring efficiency. The program will be configured such that the information is available to the appropriate people in your organization. You can customise the editing rights for the PIM data.
The PIM software can also be configured to send updated information in the correct format to your sales channels. Yes, that includes automated posting to Facebook, Amazon, YouTube, and other sites. What do you look for in a PIM Software?
6 Things to Look for in a PIM System
As with every business judgment, there are numerous things to consider. Here are six crucial elements to consider while looking for the best PIM system for you.
Is it the correct size for you?
Is it the appropriate size for your company? A huge international corporation’s PIM requirements are substantially different from those of a small business. You want a PIM system that is geared to your industry and business size – while still allowing for some expansion. A larger organization may require a bespoke PIM system.
Is it going to integrate properly?
As a running business, you already have IT infrastructure in place. It is critical for the effective adoption of a new PIM system that it interfaces easily with your existing systems and software. Our PIM systems can be hosted on Hybrid, Private, or Public Cloud, depending on your needs.
Time and money savings
Most businesses discover that a PIM system saves them a significant amount of time. Instead of scouring many spreadsheets and documents for crucial details, they have it at their fingertips on the PIM program. It drastically reduces errors and increases productivity. Knowing your inventory in real-time is critical information for many firms. This is also available through your PIM system.
A PIM system can also save you money by extremely accelerating your speed to market. The ability to alter data on the platform and have it immediately delivered to your sales and marketing channels in real-time is a major benefit. This can provide you with a significant competitive advantage.
Security and Legal Compliance
Another significant advantage of a PIM system is that it assists you in ensuring compliance with data security and legal regulations. Because it creates a “single source of truth,” the system keeps you on track with copyright constraints, for example. The confidentiality and protection of your patient information will be a top priority in the healthcare industry. This is something that the PIM system can provide.
It’s difficult to put into words how effective this technique can be for increasing communication. In addition to enhancing productivity, your PIM system stimulates better creativity through enhanced communication and easier teamwork. It enables employees and suppliers to interact more efficiently by removing communication issues caused by wrong versions or out-of-date information. This also saves time and money.
Customer support becomes much easier when everyone in your organization has access to correct product information. They can verify inventories, answer inquiries about ingredients or other details, and provide the most up-to-date intelligence to the customer. It’s really useful for sales teams who are pitching to customers. It even allows you to illustrate your customer’s e-commerce journey so that they are shown the right things for them.
As you can see, a PIM system can provide numerous benefits to your firm. However, we admit that it can be difficult to see how it could benefit your specific firm. That is why we would like to provide you with a free software demo. We’d want to have a better understanding of your requirements and show you how our software might be able to assist you with your problems.
Contact us today to schedule your free demo!