A product information management system (PIM) can be used by any company that sells products to other businesses or to consumers. Businesses that sell their products through multiple channels or marketplaces and have a large amount of data associated with their products will find it to be the most beneficial. As long as you have products to sell, it doesn’t matter which industry you’re in.
There are numerous industries where it can be applied, including retail, manufacturing, food and beverage, health and fitness, lighting, and so on and so forth. The product information management system (PIM) serves as the company’s central source of product information, allowing multiple teams/departments to collaborate seamlessly in order to keep data accurate, consistent, and up-to-date.
Here are some examples of what each department can do with the PIM in terms of functionality:
The e-commerce team benefits from being able to quickly update the online store with the most up-to-date information by utilising the PIM directly. New product launches can be expedited by having them prepared and ready to go within the PIM prior to being published on the website on launch day, which helps to reduce launch time.
A product information management system (PIM) is beneficial to the marketing department because it provides a way to distribute consistent product information while maintaining brand image. Due to the fact that they have access to all of the product data in one location, they can quickly and easily create datasheets and catalogues. More than that, providing customers with accurate product information is a differentiating selling point that helps to improve the overall customer experience for the company.
Design teams can benefit from having a centralised location for all product information and media related to these products. This means that if they are in charge of datasheets and catalogues, or even product videos, they will have access to the necessary information.
Product managers and technical teams can easily verify that the data is accurate and up to date by using a simple spreadsheet. Because of powerful import tools and data validation rules that ensure accuracy, it’s also easier to get new products ready for launch.
A higher level of benefit to the organisation is achieved through the simplification of product decision-making, the acceleration of expansion into new markets or the introduction of new products, the increase of return on investment (ROI), the saving of time and resources, and the enhancement of employee happiness and collaboration.
Each channel has the capability of displaying accurate and transparent health and safety product information, and the legal team will be aware of this. Besides legal attributes, such as certifications, the PIM can also store other types of legal information.
If a customer has a question or an issue, having a reliable source of product information will be beneficial to customer service representatives. There will also be fewer complaints as a result of the accuracy and consistency of product information across all distribution channels.
External retailers and wholesalers can be notified on a regular basis about the latest products, which will include all relevant information in the format that they require.