What is PIM, and why do you need it?

What is PIM, and why do you need it?

A Product Information Management (PIM) system is the data repository where everyone can pool and find the data necessary to collect, manage, and enrich product information that is used to induce creation and distribution of product catalogues in an easy and effective manner. With the ease of managing product information and manual processes automated, a PIM system enables companies to deliver richer and more compelling product experiences at scale, bringing them closer to the market and their customer expectations.

What is product information management ?

PIM (Product Information Management) is a system or solution that allow organizations to manage, centralize, and distribute product-related information across various sales and marketing channels in an effective manner. The main purpose of PIM is to make sure the right product information is accurately maintained across all touchpoints where customers and stakeholders may interact with it (eCommerce sites, print catalogs, mobile apps, etc.).

Key features include the following:

• A single platform to store and manage product information
• Tools to enhance product data
• Distribution capabilities
• Support for managing localized content for different regions and languages
• Enhanced team collaboration and communication

Automation of repetitive tasks, such as categorizing products

What data does PIM store?

• Technical data– Essential product specifications such as dimensions, colors, SKU numbers, materials or ingredients, and product page data like titles and descriptions.
• Usage data– Information about and where the product should be used, such as instructions, care guides, recommended applications, or maintenance tips.
• Emotional data– Brand messaging, storytelling, and marketing-focused content that highlights the emotional appeal of a product.
• Sales and pricing data–Pricing, discounts, and promotions data, such as wholesale and retail pricing, and tiered pricing for various customer segments.
• Categorization and classification data– Product categories, tags, and attributes that enable easy classification of products.
• Localization data– Translations, region-specific descriptions, and currency adaptations.
• Regulatory and compliance data– Information such as compliance data, warranty details, and any certifications that prove regulation compliance.

Benefits of PIM:

Efficiency gains: Eases manual work by handling things such as updating and sharing product information, and lets teams to focus on more strategic efforts.

Improved data quality: Minimizes data inaccuracies and discrepancies between channels so customers will see the correct product information.

Better customer experience: When great, complete and correct product information is given, it helps to increase the customer experience and to obtain customer confidence.

Faster time-to-market: By creating a centralized of your product data and efficiencies in workflows, you can get your products to market across country or sales channels sooner.

Less returns: Product data is an element that helps in reducing returns from customers by providing that detailed and consistent product information to help customers understand the products they are buying.

Higher conversions: When you give unprecedented rich, accurate and detailed content in every channel, your customers can make informed purchase decisions more easily.

How PIM Works

Collect & Centralize Data

• Collect data from your ERP, MDM, PLM, and other systems
• Onboard product data directly from suppliers in the format that works best for your team
• Connect to DAM systems for images, videos, and documents

Manage & Organize Data

• Classify products into families, categories, and channels to easily filter and search
• Measure, control, and track product data quality across teams and systems
• Govern users with roles and permissions, and audit processes with validation workflows
• Manage catalog completeness, versions, and publication schedule

Enrich & Localize Data

• Enrich product descriptions with technical and usage data
• Associate images, videos, documents with each product
• Leverage rules engine to automate enrichment of standardized attributes
• Localize and translate product information for each market and region

Distribute & Syndicate Data

• Manage catalogs for every sales channel in one system of record, ensuring consistency
• Select channel-specific attributes for each channel for the most relevant experience
• Connect to all online and print channels through API-based connectors

Syndicate catalogs to unowned marketplaces and shopping channels.