Modern Retail: Ultimate Guide to Product Information Management (PIM)

THE ULTIMATE GUIDE TO PRODUCT INFORMATION MANAGEMENT

AN INTRODUCTION TO PRODUCT INFORMATION MANAGEMENT

Product Information Management (PIM) is the process of centralising and managing all the information related to a retailer’s products.

A PIM software platform handles the process of managing a company’s product ata. This can include:

“Expanding a retail business is an exciting opportunity to tap into new revenue streams and reach a broader customer base However, the amount of product data that needs to manage can quickly become overwhelming, potentially reaching tens of thousands of SKUs, and is simply impossible to manage manually without making any data errors along the way.

This is when a PIM solution becomes important.

“ PIM i s ass oci a te d wit h a supp o rt d igit a l b usiness es i n ex pand in g i n to n ew m ar ket s, s treamlinin g t h ei r o pe ra ns and im provi ng t he c us tomer s ho pping exper ie nc e... ”

Images/videos, Pricing,

Other relevant product data

PIM he ps an ecommerce business to streamline its product information management process, ensuring accurate and consistent information is provided to customers across all sales channels

Overall, a PIM solution can be a powerful tool that enables businesses to manage their product information effectively and

in today’s fast-paced digital commerce marketplace

Understanding PIM

What Is PIM And What Does It Incorporate?

that support digital bus nesses in expanding into new markets, streamlining their operations and improving the customer shopping experience, among many others A PIM system is not just an option but a necessity for businesses that want to thrive and succeed.”

Contributor:

Rob Gamage, Managing Editor, Modern Retail

A PIM system typically nc udes features such as data modelling, structured data, management and integration with other systems. By using PIM, businesses can ensure that their product-related data is upto-date, accurate and consistent across all sales channels, which can lead to increased sales, customer satisfaction and brand loyalty.

Who Needs PIM?

PIM is essential for retailers with a large number of products, multiple sales channels and complex product data Without PIM, managing complex product relationships and information can be a daunting and time-consuming task, leading to errors, inconsistencies and delays in product launches.

Indeed implementing a PIM can be a

Claudia Martins Business Development

Adv sor at Bluestone PIM notes:

Implementing a PIM system can help retailers streamline their product information management processes, leading to faster time-to-market, increased sales and better customer exper ences. With centralised data management, improved product data quality and accurate & consistent product information, retailers can effectively manage their product catalogues and stay competitive in the digital marketplace

Dr Pat Violaris, Managing Director at OneTimePIM summarises: “PIM can

retailers. It helps maintain consistent and accurate product information across al sales channels, reduces errors improves customer satisfaction and saves time and effort.

“PIM systems can automate many timeconsuming tasks such as data entry and product categorisation freeing up employees to focus on more value-added tasks. Additionally, with PIM, retailers can easily create and update product information, speeding up the time it takes to get new products to market.

“PIM systems can also he p retailers enforce data governance policies, such as data quality and security standards reducing the r sk of data breaches and improving compliance with industry regulations. In

addition, PIM improves analytics providing retailers with a centralised view of all product data, which helps them dentify trends and make more informed decisions.”

Claudia Martins goes on to explain the for retail customers:

“As brands will have complete control over the quality of the r product data and can serve the r customers with accurate and consistent product information across all channels, this means the customers can trust the information they receive about the products, regardless of whether they are browsing in an online store or on a mobile app, thus reducing the likelihood of receiving a product that does not meet their expectations

“With a PIM, brands can create a seamless and trustworthy shopping experience for their customers. The improvement of the customer experience and the ease of data management are the main advantages of PIM for retail.”

How PIM Works

A quality PIM solution aims to streamline the process of managing product information avoiding data silos and making it easier to mai ntain accurate and consistent information across multiple languages and different distribution channels.

PIM Architecture

PIM software is designed to store and manage all product information in one central location The architecture of a PIM system generally consists of four main components:

Product Data Storage:

A PIM platform acts as a central database for storing product data, such as product

other relevant information

Product Data Management

A key aspect of a product information management system is enabling retailers to effectively maintain quality product data

create and delete product information

Product Data Enrichment:

A PIM should also allow for enhancing the product data. This might involve adding new attributes, enriching existing attributes and enhancing product descriptions

Product Data Distrib ti :

Finally, a PIM solution is responsible for distributing accurate product data to different sales and marketing channels e.g. ecommerce websites, marketplaces, social media platforms etc. The ability to distribute data consistently across sales and ecommerce channels s the ultimate aim of PIM.

PIM Features And F ti ti

PIM tools have several features and functionalities that make them an essential too for retailers. Some of the key features of a PIM system nclude:

Centr ed Pr duc ti n

Manage ent:

A PIM system provides a centralised location to manage all product information, making it easy for sales and marketing teams to maintain consistency across multiple channels

r :

PIM tools can help to maintain the quality of product information by providing validation checks and enforcing standards.

They can help to minimise errors by avoiding data silos and minimising the need for manual data entry.

Data ent:

Beyond minimising data errors PIM systems provide the ability to enhance product information. The ability to add new attributes, enhance existing attributes and enrich product descriptions helps ecommerce businesses meet customer approving product nformation This enables teams to create consistent product data

management, ultimately providing a better customer experience

vernance:

PIM systems provide the ability to manage user roles and permissions, ensuring that only authorised users can access and modify product data

When should you look to implement a PIM tool? Dr Pat Violaris fee s retailers “should consider implementing PIM if they have a large and complex product catalogue sell across multiple channels, or want to improve data accuracy and consistency while reducing costs. PIM can help them achieve these goals by automating time-consuming tasks improving data governance and speeding up time-to-market.”

The implementation process for a new PIM system involves several stages

These stages include:

1. Assessment: Assessing the current product information management process and identifying areas of improvement.

2. Requirements gathering: Identifying the requirements of t he prospective PIM system, including features functionalities and integrations

3. System selection: Selecting the appropriate PIM platform, based on the

4. PIM system to meet the requirements of the retailer.

5. Data migration: Migrating the existing product data to the new PIM tool.

6. Testing and training: Testing the PIM system and providing training to the relevant users

Further reading: 5 Best Practices for Implementing an ective PIM System Implementing a new Product Information Management system can be a engthy and arduous process but it s one worth getting right to truly take advantage of all of the

Integr ti

Most PIM software platforms are built with other systems, such as ecommerce platforms relational databases ERP systems and marketing automation systems. The streamlines the process of product data management across different channels.

In conclus on, a PIM system is a great tool for retailers who want to manage their product information more effectively. It provides a centralised location to manage all product info helps to maintain the quality of product data and provides the ability to enhance product information. PIM platforms

can also be integrated with other systems to streamline the process of managing product information across different channels

Ultimately, well-adopted PIM solutions allow retailers to sell products and communicate their customers in the digital ocations where they are serving them.

Glossary

The world of PIM comes with quite a few acronyms attached! Here’s a brief glossary of terms related to Product Information Management:

PIM = Product Information Management.

Product Information Management is a system that helps manage product data, including attributes such as pr ce, size, co our, and descriptions

PXM = Product Experience Management.

Product Experience Management focuses on managing product nformation to create engaging and personalised experiences for customers across different channels Our guide on PIM vs PXM explains more

PLM = Product Lifecycle Management.

Product Lifecycle Management is a process that manages the entire lifecycle of a product, from concept to retirement, including design, manufacturing, and distribution

DAM = Digital Asset Management.

Digital Asset Management software is a system for organising and managing digital assets such as images, v deos, and documents. See our guide on PIM vs DAM for more info

MDM = Master Data Management.

Master Data Management is a comprehensive approach to organising, maintaining, and distributing critical data assets of a business, such as customer data others. MDM ensures that the data used across different departments and systems is accurate consistent, and up-to-date, thereby enabling better decision-making and improving business operations.

CMS = Content Management System.

A Content Management System is a software application used to create, manage, and publish digital content such as web pages blog posts and images

ERP = Enterprise Resource Planning.

Enterprise Resource Planning software integrates core business processes such as resources

“Implementing a new Product Information Management system can be a lengthy and arduous process, but it is one worth ge ng solution can bring.”

THE BUSINESS BENEFITS OF PRODUCT INFORMATION MANAGEMENT

In today’s competitive business landscape and effectively has become essential for success Product Information Management (PIM) systems offer a comprehensive solution for businesses to organize, maintain and leverage their product data of Product Information Management (PIM) by examining its core components: streamlining product data management, enhancing collaboration and communication accelerating time-to-market and boosting sales and customer experience

Understanding Product Information Management (PIM)

Product Information Management (PIM) refers to the systematic organisation and governance of product retailers by allowing them to manage their product information with ease, ensuring data quality, accuracy, and consistency across various channels and touchpoints. Let’s dive deeper into what PIM entails and its essential elements.

What Is PIM?

PIM is a specialised soft ware solution that centralises product data management, allowing businesses

up-to-date, helping retailers streamline their operations, reduce errors and improve the overall customer experience.

With a PIM system, it’s easier to manage and update product information, such as descriptions, images and pricing, from a single location. This information can then be automatically distributed to various sales channels, including ecommerce platforms, marketplaces and social media. This ensures that customers receive accurate and consistent product information, regardless of where they interact with the brand.

Further reading: PIM vs DAM

Key Components Of PIM Systems

Contributor:

Rob Gramage. Managing Editor, Modern Retail

B y au tom a n g da ta

e nr i ch m en t t as ks, PIM sys tems hel p s trea mli ne the p rocess of p repa ri n g and e nhancing pro duc t da ta for d istrib u n.

product information across multiple sales channels. PIM systems ensure that product-related data is consistent and

While PIM systems can vary depending they offer, there are some common

components found in most PIM solutions. These include a central repository for product data, integration with existing systems and processes, data validation & enrichment tools and robust reporting & analytics. Together, these components

leverage their product information.

The central database is the heart of a PIM system, where all product-related data is stored and managed. This repository can be accessed by various teams and departments across the business, including marketing, sales and product development. Integration with existing systems and processes, such as ERP and CRM systems, ensures that product data is consistent and up-to-date across all business functions.

Data validation and enrichment tools help businesses ensure that product information is accurate and complete. These tools can include automated data validation checks, as well as manual data enrichment processes, such as adding product descriptions and images.

Robust reporting and analytics capabilities enable businesses to gain insights into their product data, such as which products

are selling well and which ones need improvement. This information can then be used to make data-driven decisions and optimise product offerings.

PIM Vs. Traditional Product Management

Traditional product management often relies on disparate systems, spreadsheets and manual processes to collect, manage and distribute product information. This approach can lead to inconsistencies, negatively impact a retailer. In contrast, PIM systems centralise and automate many of these tasks, resulting in streamlined data management, increased data accuracy and improved collaboration across teams and channels.

via a PIM system mean businesses can reduce the time and resources required to manage product information, freeing up employees to focus on more strategic tasks. Additionally, PIM systems can help businesses improve the customer experience by ensuring that product information is accurate and consistent across all touchpoints.

Claudia

Martins, Business Development Advisor at Bluestone PIM comments:

“With the use of a dedicated Product Information Management (PIM) system and managing all product information in a centralised location, companies of data silos, reduction of data errors, automation of data entry work, faster time-to-market, team collaboration improvement, brand consistency and overall increment of sales revenue.”

In conclusion, PIM systems are an essential tool for businesses looking to product information. By centralising and automating product data management, businesses can reduce errors, improve collaboration and enhance the overall customer experience.

Information Management (PIM)

1) Streamlining Product Data Management

Information Management (PIM) is its ability to streamline the entire process of product data management, from gathering and updating information to distributing it across interna and external channels.

PIM helps facilitate this process.

Centralised Data Storage

repository for storing all product information, making it easy to locate and access data whenever needed. This centralised storage eliminates the need for multiple, disconnected sources of product data, reducing the chances of errors and inconsistencies and ensuring that all team members have access to the most up-to-date information.

Improved Data Quality And Consistency

PIM solutions can offer data validation, deduplication and enrichment tools that help ensure the quality and consistency of product data. By automatically identifying missing or inaccurate data, PIM systems enable businesses to maintain a high level of data integrity, ultimately resulting in better decision-making and improved

customer experiences.

David Alarcón, Ecommerce Specialist at Plytix explains:

“A PIM platform helps make sure all the product information used in different channels is correct and adapted to every channel—providing high value in a multichannel strategy and a goo d brand reputation.”

PIM systems make it easy to import and export product data from various sources, such as ERP systems, ecommerce platforms, or supplier data feeds.

product information is kept current and consistent across all channels, helping businesses react swiftly to changes in the marketplace or evolving customer needs.

2) Enhancing Collabor ti d ti n

PIM systems not only streamline product data management but also foster improved collaboration and communication among team members involved in managing and distributing product information. Let’s explore some of the ways PIM enhances team collaboration…

Real-Time Data Updates

Real-time data updates in PIM systems

ens ure that all team members have access to the most up-to-date product information at any given moment. This enables faster decision-making and helps prevent miscommunications or errors that can hinder collaboration and progress.

Role-Based Access Control

With role-based access control, PIM systems provide customised access levels to different team members based on their job responsibilities. This helps maintain data security and allows team members to over whelmed by irrelevant information.

Facilitating Cross-Func tional Teamwork

PIM systems promote cross-functional teamwork by breaking down data silos. By providing a single, centralised source of product data, PIM encourages collaboration among various departments – including marketing, sales, IT and operations – allowing them to work together more effectively to support company goals and objectives.

3) elerating Time-To-Market

Time-to-market is a critical factor in today’s fast-paced world, and PIM sys tems help retailers reduce the time needed to get new products to consumers. Let’s see how PIM can facilitate a quicker time-to-market…

By automating data enrichment tasks, PIM systems help streamline the process of preparing and enhancing product data minimises manual labour but also reduces the likelihoo d of errors, ensuring that products are ready for market faster and with higher levels of accuracy and consistency.

Automated Publishing And Syndication

PIM systems typically include features that enable companies to automate the publishing and s yndication of their product information across multiple channels, such as websites, catalogues, marketplaces and social media. This automation reduces the time and effort required to update and maintain product information across various touchpoints, ultimately accelerating the process of bringing products to market.

Faster Product Launches

The streamlined data management, improved collaboration and automated processes facilitated by PIM systems contribute to faster product launches.

the product management process, PIM helps businesses more quickly respond to market demands and capitalise on new revenue opportunities.

4) B ti g Sale d Customer Experience

Ultimately, PIM’s primary goal is to help businesses enhance their sales and customer experience by ensuring that accurate, consistent and compelling product information is available to consumers at all touchpoints. Here are some of the ways PIM contributes to these critical business outcomes:

Personalised Product Recommendations

PIM systems support companies in delivering personalised product recommendations to customers by gathering and analysing comprehensive product data. Armed with this information, businesses can create tailored experiences that drive higher engagement and conversion rates, strengthening customer relations and bo osting sales.

As David Alarcón explains: “having personalised content for every sales channel boosts conversion. This is because the content is tailored for the

to focus on different elements for every sales channel.”

Omnichannel Consistency

Today’s shoppers expect a seamless, consistent experience across all channels, and PIM systems play an essential role in facilitating this omnichannel consistency. By centralising product data and ensuring its accuracy across all touchpoints, PIM helps businesses provide a coherent and cohesive brand experience that meets customer expectations and drives loyalty.

Improved Product Search & Navigation

PIM systems enable businesses to effectively manage product attributes and create robust, easy -to-navigate product catalogues. This improved search functionality and navigation make it easier quickly, ultimately enhancing the shopping experience and increasing the likelihoo d of purchase.

Summary

In conclusion, Product Information Management (PIM) systems offer valuable streamlined product data management, enhanced collaboration and accelerated time-to-market to increased sales and improved customer experiences. By adopting a PIM solution, retailers can gain a competitive advantage in today’s evolving online landscape

“ Trad na l pr d uc t m ana gem ent en reli es n dispa rat e s ys tem s, sp reads h ee t s and m anua l pr cesses e ct, m ana ge and d istribute p r du ct in rma n. Thi s app r ac h can ead n ns ist en c ies , th at ne ga ve ly im pa ct a reta il er “

PIM SYSTEM FOR YOUR BUSINESS

Selec ting the right Product Informa on Management (PIM) system for your retail business is a crucial

help you understand PIM so ware, assess your business needs and evaluate various PIM options to make the best choice for your company.

PIM System

Implementing a PIM comes with better user experience for both internal stakeholders and customers. Some other include:

• Centralised data management: PIM systems consolidate product data from multiple sources, helping retailers maintain consistent and upto-date information.

• : PIM solutions can automate various tasks, such as bulk updates and data validation, saving time and reducing the risk of errors.

• Improved collaboration: With a PIM system, teams can work together on product content, ensuring that all departments have access to the same, accurate information.

Enhanced data analytics: PIM systems offer rich data analytics and reporting tools, enabling businesses to make more informed decisions and optimise their product strategies.

Common Features Of PIM Systems

Although PIM systems may vary in their a set of core features. Some common functionalities include:

• Data import and export: PIM systems can import data from various sources and export it in different requirements.

• Product data organisation: PIM solutions offer robust categorisation and search capabilities, making it easy information.

• Data validation and quality control: PIMs often include tools for ensuring

data accuracy and completeness, such as automated validation checks and alerts for missing information.

• a goo d PIM platform wil typically provide businesses to create and manage their product content processes

• Localisation and translation: Many PIM systems offer multi-language support, enabling businesses to manage their product content for various internationa markets.

Assessing Your Business Needs

Each business has unique data challenges and goals, so it’s critical to assess your system. This process involves identifying your product data challenges, evaluating your current data management processes and setting goals among several best practices for PIM implementation.

Identifying Your Product Data Challenges

business needs is to identify the major product data challenges you’re currently facing. Some common issues include:

• Inconsistent data across channels: If your product information is inconsistent on various platforms, it can negatively impact your brand image and customer experience.

• Data silos: Having multiple data repositories can hinder collaboration

• Manual data management: Relying on manual processes for managing product data can be time-consuming and prone to errors.

• Without data analytics capabilities, retailers may struggle to make informed decisions and optimise their product strategies.

Evaluating Your Current Data Management Process

A nalysing your current data management process involves examining how data is collected, stored updated and shared between different teams and systems. This information will help you understand the gaps in your existing process and determine the features you need in a PIM solution to address these shortcomings.

Se ng Goals For Your PIM Implementa

tion

Having a clear vision of the outcomes you want to achieve with your PIM system is crucial for driving its successful mplementation. Consider setting goals such as:

• Improving data accuracy and consistency: A PIM system should help you maintain accurate, up-todate information across all channels.

• PIM mplementation should streamline of time spent on manual data management tasks.

• Enhancing collaboration: A PIM solution should improve collaboration between different departments, ensuring that all stakeholders have access to consistent product information.

• Expanding to new markets: If your business has plans for international expansion, your PIM system should support localisation and translation features.

As with setting any kind of business goal, it’s worth ensuring that your PIM objectives are SMART goals – meaning

Relevant, and Time-bound.

“

A s you r busine ss grow s an d evol ves , your PIM system sh oul d b e ab le to adap t an d scale t o me et you r ch an gi ng req ui re me nts. Be sure to choo se a s n th at can h and l e in creas ing da ta volum es and a ccommo da te add na l f ea tu res an d integra ns as ne e ded . “

Contributor: Rob Gamage, Managing Editor, Modern Retail

Key Factors To Consider When Choosing A PIM System

When evaluating different PIM solutions, keep in mind several key factors that can mplementation.

Integration With Existing Systems

Your chosen PIM solution should seamlessly integrate with your existing soft ware systems, such as ERP, CRM, ecommerce platform and marketing automation tools. Successful integration will help to ensure data consistency, automate data updates and reduce manual efforts. It’s essential to evaluate the ease of integration and any associated costs during your selection process.

Scalability And Flexibility

As your business grows and evolves, your PIM system should be able to adapt and scale to meet your changing requirements. Be sure to choose a solution that can handle increasing data volumes and accommodate additional features and integrations as needed.

Claudia Martins, Business Development Advisor at Bluestone PIM highlights this as a key area to consider:

“Over time, market trends will shift and competition will grow stronger, so businesses wil also need to adapt and change. So when choosing a PIM, companies need to check how easily the PIM help them adapt to those changes and how can it support their growth into the future.”

User-Friendliness And Customisation

Choose a PIM system with an intuitive user inter face and the ability to customise

wil ensure that your team can quickly adopt the new technology and that the needs.

Data Security And Compliance

Your PIM system should offer robust security features to protect your sensitive product data. Additionally, consider whether the solution complies with data protection regulations relevant to your locations and target markets.

Vendor Support And Training

Quality customer support and training resources can be critical for successful PIM mplementation. During your selection process, consider the level of support provided by each vendor, as well

as any available training materials and resources.

David Alarcón, Ecommerce Specialist at Plytix comments:

“Onboarding to a new platform can be challenging, and making sure your new PIM platform has complete support during this important phase will make a big difference. Instead of a long and timewasting process, a goo d PIM provides a process that will help the people (that will

and prepared to face challenges regarding product information management.”

Comparing PIM System Options

With a clear understanding of your business needs and a list of essential features, you can begin researching PIM vendors and comparing different system options.

Researching PIM Vendors

Start by making a list of PIM vendors that offer solutions aligned with your industry publications, attend trade shows and network with peers to gather recommendations and learn about various vendors.

Dr Pat Violaris, Managing Director at OneTimePIM suggests:

“Retailers should consider several factors when choosing a vendor, including the vendor’s experience and track record,

of use and mplementation, integration capabilities and data security and privacy. “

Reading Reviews And Case Studies

Reading product reviews and case studies can provide valuable insights into the realworld performance and user experience of different PIM systems. Pay particular attention to reviews from businesses with similar needs and challenges to yours.

Soft ware review aggregators such as G2 and Capterra can be useful for comparing different providers:

• PIM reviews on G2

• PIM reviews on Capterra Requesting Product Demos And Trials

product demos and, if possible, trial versions of the PIM systems on your shortlist. This hands-on experience will give you a better understanding of how each system functions and whether it

Making The Final Decision

As you narrow down your PIM system options, consider factors such as costs, mplementation time and resources, and long-term success with your selected solution.

Evaluating Costs And ROI

Compare the licensing and implementation costs of different PIM systems, as well as any potential hidden expenses, such as data migration, integrations, and additional modules. Assess the potential return on investment (ROI) for each solution, taking into account improvements in data accuracy, time savings, and increased sales opportunities.

David Alarcón highlights the importance of evaluating the “direct and indirect cost of a tool. Direct cost is the subscription and onboarding costs. Whereas the indirect costs are the costs associated with the time and resources needed for onboarding and the adoption of the platform.”

Considering Implementation Time And Resources

Factor in the time and resources required

for mplementing each PIM system, as well as the potential impact on your ongoing business operations. Choose a solution with a manageable implementation timeline and minimal disruption to your

Ensuring Long-Term Success With Your Chosen PIM System

Finally, consider how your chosen PIM system will contribute to the long-term success of your business. Make sure the solution aligns with your company’s strategic goals and offers ongoing support, updates and enhancements to help you adapt to changing market needs and technological advancements.

Summary

In conclusion, selecting the right PIM system requires researching and understanding different solutions, considering factors such as integration capabilities, scalability and vendor support. By following this guide, you’ll be well-equipped to make an informed decision and choose a PIM system that elevates your data management and fosters your company’s success.

IMPLEMENTING AN EFFECTIVE PIM SYSTEM

1) Establishing Clear Goals And Objectives

Establishing clear goals and objectives for your PIM implementation is the foundation for a successful outcome. This process should involve identifying your business needs and setting measurable objectives.

Identifying Your Business Needs

To determine what you hope to achieve with a PIM system start by identifying the unique challenges and pain points related to product da-ta management within your organisation. Consider factors such as:

• product information across chan-nels

• Challenges in maintaining accurate and consistent data

“ Est ab li shin g sea mle ss integra ns ensu res t ha t y ur PIM syste m imns iste nc y acr ss y r rgan sa n “

• Issues with collaboration among teams and departments

• operations and meeting market demands

Once you know your particular business needs, you can create a list of requirements for your PIM system to address these problems effec-tively.

Se ng Measurable Objec tives measurable, attainable, relevant, and time-bound (SMART) goals for your PIM mplementation. E xamples of SMART goals might include:

• Reduce the time spent on updating product data by 50% in six months

• Increase the accuracy of product data across all channels to at least 95% within three months

• Improve collaboration among teams by implementing a centralised system within two months

By establishing clear goals and objectives, you’ll have a roadmap for a successful PIM implementation and a way to measure your progress and outcomes.

2) Choosing The Right PIM Solution

With a clear understanding of your needs and objectives, the next step is to evaluate the different PIM soft ware features and compare ven-dors to select the right PIM platform for your business.

Evaluating PIM Soft ware Features

When selecting a PIM system, it’s vital for retailers to ensure that the soft ware’s business needs and ob-jectives. Some essential features to consider include:

• Data import/export capabilities

• Integration with existing systems

• Scalability and customisation options

• Collaboration tools

• Data quality and consistency management

Dr Pat Violaris, Managing Director at OneTimePIM expands: “A check-list for sourcing PIM soft ware might include the vendor’s experience and track record, the solution’s features and capabilities, integration capabili-ties, ease of use and data securi-ty and privacy, and support and maintenance offerings.”

By evaluating each PIM solution against your list of requirements, you can choose a system that is most likely to address your needs effective-ly.

Comparing PIM Vendors

Once you’ve narrowed down your options, it’s crucial to compare your shortlist of PIM vendors – and their pricing plans. In addition to the soft ware features, consider factors such as vendor reputation, custom-er support, training resources and overall value for the investment.

With thorough research and a comparison of different PIM solutions, you can make an informed decision that best suits your business de-mands and budget.

3) Ensuring Smooth Data Integrati

on

After selecting the right PIM solution, the next step is to integrate it with your existing systems and processes. This involves preparing your data for migration and ensuring smooth integration with existing sys-tems.

Preparing Your Data For Migration

To ensure a seamless transition to your new PIM system, it’s essential to prepare your data for migration. This may involve:

• Cleaning and organising existing product data

• Standardising data formats and terminology

• Developing a process for managing and updating data moving for- ward

By investing time and effort in preparing your data for migration, you can minimise potential issues and help to ensure a successful PIM im-plementation.

Integrating PIM With Existing Systems

One of the primary advantages of PIM systems is their ability to inte-grate with other soft ware and tools within your business. As part of the PIM implementation process, you’ll need to set up integrations with your existing systems, such as your ecommerce platform or ERP sys-tem.

Establishing seamless integrations ensures that your PIM system im-proves your organisation.

To achieve buy-in across your business, consider developing a PIM training programme and providing ongoing support and resources.

Contributor: Rob Gamage, Managing Editor, Modern Retail

4) Training And Suppor ng Your Team

A successful PIM implementation requires buy-in and understanding from your entire team.

Who should be involved in this process?

Dr Pat Violaris suggests stake-holders should “include product managers and owners, marketing and ecommerce teams, IT and development teams, data governance and com-pliance teams, and executive leadership.”

To achieve buy-in across your business, consider developing a PIM training programme and providing ongoing support and resources.

Developing A PIM Training Programme

Effective PIM training ensures that your team fully understands the system and its capabilities.

Your training programme should include:

• Step-by-step instructions for using the system

• Guidelines for data management and updates

• member Best prac ces for collabora on and communica on

By offering thorough training, you can ensure that your team is well-prepared to use your new PIM platform effectively.

Providing Ongoing Support And Resources

Implementation doesn’t end with initial training. It’s essential to pro-vide ongoing support and resources to facilitate continuous learning and improvement.

5) Con nuously Monitoring And Improving Your PIM Pla orm

Regular monitoring and assessment are essential for ensuring the long-term success of your PIM implementation. This involves tracking key performance indicators (KPIs) and updating your PIM strategy as needed.

Tracking Key Performance Indicators (KPIs)

By monitoring KPIs related to your PIM objectives, you can assess the overall effectiveness of your system and identify areas for improvement. Some KPIs to track might include:

• Time spent managing and updating product data

• Data accuracy and consistency across channels

• Team collaboration and productivity levels

By regularly evaluating these KPIs, you can make informed decisions about adjustments or improvements to your PIM strategy.

Regularly Upda ng And Op

Your PIM Strategy

Summary

you can implement a PIM system that consistency within your retail business, ultimately contributing to increased customer satisfaction and sales.

ising

Like any business strategy, your PIM implementation should be dynam-ic and adaptable to changing market demands and internal needs. Regu-larly updating your goals, objectives and strategies will help you stay ahead of the curve and continuously improve the effectiveness of your PIM system.

This can include:

• Access to vendor support and troubleshooting resources

• Regular team meetings to discuss challenges, updates, and best practices

• Additional training as new features or integrations are introduced

By providing the necessary support, you will empower your team to maximise the

PIM VS DAM: WHAT’S THE DIFFERENCE?

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PIM and DAM are soft ware tools that have a fair bit of crossover in their lity and features – so it can sometimes be tricky to work out how they differ from one another. Both systems are p businesses manage and organise their digital assets and product explore PIM vs DAM, the key differences between them, their individual features, ting both systems.

ng PIM And DAM

ing into the differences between PIM and DAM, it is essential purpose of each system. Both PIM and DAM play crucial roles in managing and organising digital information, but they are designed to address different aspects of a business’s data needs.

Management

But PIM is more than just a system for managing product descriptions and pricing. PIM also helps businesses manage product attributes, such as size, colour and weight, as well as product relationships, such as cross-sell and up-sell opportunities. By managing all of this information in one centralised location, businesses can ensure that their product information is consistent across all channels and touchpoints, which can lead to increased customer satis faction and loyalty.

Another is that it can help businesses manage their product data place, businesses can automate many of the processes involved in managing product data, such as data entry and validation, which can save time and reduce the risk of errors.

Management

It’s important to understand that DAM is more than just a system for storing also help businesses manage their digital assets more effectively by providing tools for editing, versioning and approval processes centrally, businesses can ensure that their digital assets are always up-todate and consistent across all channels and touchpoints.

businesses save time and money. With a DAM system in place, businesses can can reduce the need for new content creation and save on production costs. Additionally, DAM systems can help businesses avoid legal issues by ensuring that they have the necessary rights and permissions to use their digital assets.

The Differences: PIM Vs DAM

While PIM and DAM systems share some similarities, they are designed to address different aspects of a business’s information needs. PIM systems focus on managing product data, while DAM systems focus on managing digital assets.

while DAM systems focus on managing unstructured data, such as images, videos, and documents. PIM platforms are typically used by businesses that need to manage a large volume of product data, while DAM tools are used by businesses that need to manage a large volume of digital assets.

Ultimately, the choice between PIM and needs and goals. Some businesses may tandem, while others may only need one or the other. Regardless of which system a business chooses, implementing a centralised system for managing product data and digital assets can help improve customer experiences.

Key Features Of PIM And DAM Systems

PIM and DAM systems share common characteristics, yet they come with unique features tailored to meet their their differences, let’s examine the key functionalities of each system.

PIM Features

3. PIM solutions facilitate streamlined various teams involved in the product lifecycle, including sales, marketing, and IT.

4. Multi-channel publishing: PIM systems allow businesses to seamlessly update and publish product information across multiple platforms, including websites, catalogues and marketplaces.

DAM Features

1. Centralised digital asset repository: DAM systems store all digital assets, such as images, videos and documents in a centralised location, ensuring easy access and organisation.

2. Metadata management: DAMs allow users to add metadata to assets, making them easily searchable and retrievable within the system.

Contributor: Rob Gamage, Managing Editor, Modern Retail

Product Information Management (PIM), is a centralised system used to consolidate, manage, and enrich a company’s product data. PIM soft ware ensures that businesses have accurate, consistent, and up-to-date product information across multiple channels and touchpoints, such as websites, catalogues, and marketplaces. This thorough management helps improve product data quality, streamline processes and reduce errors, ultimately enhancing customer experiences and increasing sales.

Digital Asset Management, or DAM, is a centralised system that helps businesses store, organise, and distribute digital assets like images, videos, documents and enables organisations to collaborate more effectively, quickly search and retrieve digital assets, and ensure brand consistency across various channels. In essence, DAM systems aim to optimise the use of digital assets and help businesses meet their marketing and communication objectives.

Dr Pat Violaris, Managing Director at OneTimePIM agrees: “Although there is some overlap between PIM and DAM, they serve different purposes and are both important for retailers. PIM focuses on managing product information, while DAM focuses on managing digital assets such as images and videos.”

Another key difference between DAM and PIM is the type of information that they manage. PIM systems focus on managing structured data, such as product descriptions and pricing,

1. Centralised product data repository: PIM systems store and manage all product data centrally, ensuring consistency and accuracy across all channels.

2. Data enrichment: PIMs enable users to enrich product data with additiona attributes and details, such as descriptions, images and

product offerings and experiences (our guide on PIM vs PXM explains more on this)

3. Access control: DAM systems enable businesses to manage user access and permissions, maintaining control and how they can be used.

4. Asset distribution: With DAM solutions, businesses can streamline the distribution of digital assets across multiple channels and ensure brand consistency.

“Ultimately, the choice between PIM and DAM depends on a from using both systems in tandem, while others may only need one or the other. “

The Main Differences: PIM Vs DAM

Although PIM and DAM systems serve distinct purposes, there is some overlap between the two. To understand the critical differences between these solutions, we must consider the data types and formats, system functionality & purpose and integration & compatibility aspects of each.

Data Types And Formats

PIM systems primarily focus on product-related data, such as product

This data is typically structured and available in various formats, including text, systems, on the other hand, deal with digital assets like images, videos, PDFs are usually unstructured and might be

System Func tionality And Purpose

While both PIM and DAM systems help businesses manage and organise their data, they serve different purposes.

PIM systems aim to centralise product information and enhance data quality, ensuring a consistent and accurate

optimising the use, storage and distribution of digital assets, enabling businesses to collaborate more effectively and maintain brand consistency.

Integration And Compatibility

Integration plays a crucial role in both PIM and DAM systems, as businesses often require them to work seamlessly with other applications and soft ware. PIM systems typically integrate with ecommerce platforms, marketplaces and other sales channels, while DAM systems connect with content management systems (CMS), marketing automation platforms and social media tools.

Choosing The Right System For Your Business

Selecting the appropriate solution between PIM and DAM depends on your business needs and objectives. To make an informed decision, consider assessing your business requirements, evaluating various PIM and DAM solutions and weighing mplementation and adoption considerations.

Assessing Your Business Needs

Start by evaluating your organisation’s

information, consolidating data across multiple channels and enriching product data – and so a PIM system may be more of a priority. But if your business really struggles with managing, storing and distributing digital assets, a DAM system could be a goo d choice.

Evaluating PIM Vs DAM Solutions

Once you identify your business needs, research and compare various PIM and DAM solutions offered in the market. Consider system features, ease of use, scalability and pricing when comparing different options. Look for solutions that align with your business goals and provide the essential functionalities your organisation requires.

Implementation And Adoption Considerations

Before selecting a system, consider the implementation process, including data employee training. Ensure that the chosen solution can be easily integrated with your current soft ware environment and that your team can adapt to it with minimal interruptions to operations. Our article on PIM best practices can help guide your implementation process.

product information, so there are no overlapping functions. Accurate and consistent product information alone is in a competitive retail landscape, so if a brand wants to stand out, it is essential to utilise creative media assets across various touchpoints.

Examples Of PIM And DAM Integration

Many businesses have successfully integrated PIM and DAM systems to streamline their processes and optimise data management. For instance, ecommerce companies have leveraged these integrated systems to manage

ting PIM and DAM systems can provide businesses with a comprehensive

combining these systems, retailers can a comprehensive system for managing PIM if

“If a company handles a large volume of product information and digital assets, and wishes to manage and enrich them in ereas Product Information Management (PIM) handles

“Using DAM and PIM together can complement your marketing and sales activities.”

1. Improved data quality and consistency: Integrating PIM and DAM systems ensures consistent and accurate data across all platforms and channels, reducing errors and improving customer experiences.

2. Combining PIM and DAM reduces redundancy and streamlines collaboration among

platform, providing a seamless shopping experience for customers. Retailers have also used PIM and DAM integrations to maintain consistent branding and messaging across ecommerce websites, print catalogues and instore displays.

Dr Pat Violaris, Managing Director at OneTimePIM suggests that “PIM and DAM can work together effectively by integrating their capabilities. For example, a PIM system can use DAM assets to enrich product information, while a DAM

in the PIM system.”

Conclusion: PIM Vs DAM – Making The Right Choice

approach, while DAM systems focus on managing and distributing digital assets. By understanding the key differences and features of each, businesses can make informed decisions to optimise their data management strategies. Integrating PIM and DAM systems can provide a comprehensive solution for businesses looking to manage both product information and digital assets, resulting in improved data quality, streamlined experiences.

3. Centralised data management: An integrated PIM and DAM solution allows businesses to manage all their data in one centralised system, enhancing data visibility and control.

In conclusion, choosing between PIM and DAM systems depends on your business needs and objectives. PIM systems offer a more product data-centric

REVOLUTIONISE YOUR RETAIL BUSINESS WITH ONETIMEPIM: THE ULTIMATE PIM SOLUTION

Tackling Modern Retail Challenges

Product Information Management (PIM) systems are essential for retailers, especially those selling products online. Consumers expect accurate and detailed product information, which can be easily managed and distributed through PIM systems like OneTimePIM. This cloudbased SaaS solution helps retailers create, manage, and distribute product information to various channels, including ecommerce websites, marketplaces, and improve a retailer’s operations, customer experience, and sales. In the following of PIM systems for retailers and how OneTimePIM can help drive growth.

Using OneTimePIM can streamline retail operations and save time. The centralized

system allows retailers to manage product information and distribute it across multiple channels easily. This eliminates manual data entry, which is timeconsuming and prone to errors.

For instance, a retailer who sells products through various channels would need to update product information separately for each channel without a PIM system. This can be a cumbersome and error-prone process, especially with frequent updates.

OneTimePIM allows retailers to manage all product information in one place and distribute it to various channels with a few clicks. This saves time, reduces errors, and allows retailers to focus on other important aspects of their business like marketing and sales.

OneTimePIM also offers advanced features like bulk updates and automation

Improved Data Accuracy

Using OneTimePIM improves data accuracy, which is critical for a retailer’s operations, customer experience, and sales. Inaccurate pricing, descriptions, or inventory data can lead to customer frustration, lost sales, and increased costs. OneTimePIM centralizes product information management, uses automated validation and quality control capabilities to reduce errors and ensure accuracy. Retailers can track changes and history of product information, enabling quick error correction and reducing negative impacts on the business.

Enhanced Customer Experience

One of the key factors in building a successful retail business is providing an excellent customer experience. Customers today expect to have access

to detailed and accurate product information, and they want to be able to

are interested in.

PIM systems like OneTimePIM can help retailers to provide an enhanced customer experience by ensuring that product information is accurate, complete, and consistent across all channels. This helps ultimately leading to increased sales and customer loyalty.

One of the key features of OneTimePIM is its ability to support multiple languages and currencies, allowing retailers to easily expand their business to new markets. This can help retailers to reach new customers and increase sales, ultimately leading to business growth and success.

“ By using O ne Time PIM , reta il ers can e nsure t ha t th ei r p ro du ct in forma n i s ac curate , c om p lete, an d co ns ist ent ac ro ss a ll channe ls, ately i nc re as ing cus tome r tr us t and lo ya lty “

Another key feature of OneTimePIM is its ability to support rich media and content, such as images, videos, and product descriptions. This helps retailers to provide a more engaging and informative customer experience, which can lead to increased customer satisfaction and loyalty.

Increased Sales and Revenue

Ultimately, the goal of any retailer is to increase sales and revenue. PIM systems like OneTimePIM can help retailers to achieve this goal by streamlining operations, improving data accuracy,

enhancing the customer experience, and providing advanced features that can help to increase sales and revenue.

One of the key ways that PIM systems can help to increase sales is by improving the customer experience. By providing accurate and detailed product information, retailers can build customer satisfaction and loyalty. This in turn, can lead to increased sales and revenue as customers are more likely to make repeat purchases and recommend the retailer to others.

In addition, PIM systems like OneTimePIM can help retailers to expand their business to new markets by supporting multiple languages and currencies. This can help to increase sales and revenue by allowing retailers to reach new customers and expand their customer base.

Conclusion

In conclusion, PIM systems like OneTimePIM can provide numerous

experience, and increased sales and revenue. By centralizing product information management and providing advanced features such as automation, data validation, and pricing optimization, OneTimePIM can help retailers to

streamline their operations, reduce errors, and grow their business.

By using OneTimePIM, retailers can ensure that their product information is accurate, complete, and consistent across all channels, ultimately increasing customer trust and loyalty In addition, OneTimePIM’s advanced features such as cross-selling upselling, and pricing optimization can help to increase sales and revenue eading to business growth and success.

Overall, OneTimePIM is a p owerful and user-friendly PIM system that can help retailers to achieve their business goals and stay competitive in today’s fastpaced retail environment. We encourage all retailers to try OneTimePIM and

Contributor:

Author Name, Job Title, OneTimePIM

Streamline Product Information Management for Seamless Digital Transformation.

PIM VS PXM: WHAT S THE DIFFERENCE

erences Between PIM And PXM

Now that we have a basic understanding of both PIM and PXM let’s explore the main differences between the two approaches.

Data Management And Organisation

Evaluating PIM And PXM Vendors

Beyond just comparing features, consider factors like scalability, support for integrations, vendor reputation, and pricing when assessing potential PIM and PXM providers. Opt for a solution that best fits your business si e, industry, and

This ensures that everyone is working with the same product data, reducing the risk of errors and inconsistencies.

A robust PIM solution helps businesses improve the accuracy, consistency, and completeness of their product data, ultimately leading to better product discovery and increased conversions.

Defining Product Experience Management PXM

In today’s fast-paced world of ecommerce, managing product information and creating engaging product experiences are crucial for retailers worldwide. wo terms that o en come up when discussing ecommerce technology are Product Information Management (PIM) and Product Experience Management (P M). In this article, we will aim to compare PIM vs P M, explore their benefits and look at how to choose the right solution for your business.

nderstanding PIM And PXM

Before diving into the differences, it is essential to understand what PIM and PXM entail and how they relate to managing product information and enhancing customer experiences.

Product Information Management (PIM) and Product Experience Management (PXM) are two important elements of any successful ecommerce strategy. With the rise of online shopping and the increasing demand for personalised experiences, retailers need to have robust PIM and PXM tactics in place to stay competitive in the market.

Defining Product Information Management PIM)

Product Information Management (PIM) refers to the process of collecting, organising, and managing product data and related digital asset management (read more on PIM vs DAM) across various channels and touchpoints. A PIM system acts as a central repository for all product information, including descriptions images, videos, and technical specifications.

With a PIM solution in place, retailers can ensure that their product data is accurate, consistent, and up-to-date across all channels, including ecommerce websites, marketplaces, and social media platforms. This helps to improve the overall customer experience by providing customers with the information they need to make informed purchase decisions.

Claudia Martins, Business Development Advisor at Bluestone PIM explains:

“With the use of a dedicated Product Information Management (PIM) system and managing all product information in a centralised location, companies can see benefits such as the elimination of data silos, reduction of data errors, automation of data entry work, faster time-to-market, team collaboration improvement, brand consistency, and overall increment of sales revenue.”

Further benefits of PIM include facilitating seamless collaboration between teams and different business departments such as marketing, sales, and IT.

Product Experience Management, or PXM, goes one step further by focusing not only on product data management but also on creating personalised and engaging product experiences for customers. PXM encompasses all the aspects of a product’s interaction with consumers, from discovery and evaluation to purchase and post-purchase support.

This approach involves optimising content, layout, and design to adapt to different customer segments, channels and geographic regions, ensuring a consistent and immersive experience throughout the customer journey. PXM solutions use customer data and insights to create personalised experiences that resonate with customers, increasing engagement and loyalty.

By leveraging PXM, businesses can differentiate themselves from their competitors by providing a unique and memorable customer experience. This can lead to increased customer satisfaction, repeat purchases, and positive word-of-mouth marketing.

In conclusion, while PIM focuses on managing product data, PXM takes it a step further by enhancing the use of product information to create personalised and engaging product experiences for customers. Both are key components of the most successful ecommerce strategies, and retailers who have the time and resources to do so should consider investing in robust PIM and PXM solutions to stay ahead of their competition.

While both PIM and PXM deal with product data, PIM primarily focuses on data collection, management and organisation. In contrast, PXM builds upon a solid PIM foundation, incorporating additional elements to enrich and optimise product experiences across different channels and touchpoints.

A PIM system centralises data storage and offers a single source of truth, while PXM brings this data to life with engaging visuals, layouts, and personalised content.

Customer Experience Focus

The primary focus of PIM is data quality and management. For PXM, however, the focus is to enhance customer experiences by creating relevant, engaging and personalised product interactions. This includes leveraging data insights, creative elements and contextual information to tailor product presentations and content to specific customer segments and preferences – ultimately driving customer engagement, loyalty and conversions.

Integration With Other Systems

Both PIM and PXM systems rely on integrations with other enterprise platforms, such as ecommerce, marketing and data analytics tools. However, PXM often demands a higher level of integration with these systems in order to provide the necessary data and assets for delivering personalised product experiences. This means that PXM requires robust APIs and seamless connectivity capabilities to connect and exchange data with multiple tools, ensuring a consistent product presentation across all channels.

ser Roles And Permissions

PIM systems primarily cater to the needs of teams responsible for data management, while PXM solutions accommodate additional user roles, including content creators, marketers, and channel managers. PXM platforms often come with more advanced user permission settings, allowing businesses to define detailed access rights and approval workflows. This enables each user can effectively contribute to the overall product experience creation process.

Benefits Of PIM And PXM

It’s important to realise that PIM and PXM are not mutually exclusive. Claudia Martins outlines:

“Product Experience Management (PXM) is a strategy for creating a compelling product experience. Product Information Management (PIM), on the other hand, is the most important element of a successful product experience management strategy. PIM software enables the creation of a single source of truth for managing product data across multiple selling platforms.”

Implementing a robust PIM and/or PXM solution can result in numerous advantages for businesses. Some of the benefits of PIM and PXM include:

Improved Product Data Quality

Consistent and accurate product data is crucial for driving consumer trust and conversions. Both PIM and PXM solutions facilitate centralising and standardising product data, reducing the chances of discrepancies and errors while promoting efficient data management, ultimately leading to improved product data quality.

Enhanced Customer Experience

P M solutions specifically focus on creating engaging, relevant and tailored product experiences that resonate with target customers. By optimising content, presentation and design based on customer preferences, PXM helps businesses stand out from the competition and foster customer loyalty through unique and immersive experiences.

Streamlined Product Launches

Using PIM and PXM solutions, businesses can shorten time-to-market, as these systems enable teams to quickly and efficiently upload, update and distribute product data and content across various channels. Faster and more accurate product data synchronisation translates to streamlined product launches and increased sales potential.

How to Choose the Right PIM System for Your Business Implementation And Adoption Considerations

Before committing to a solution, consider the implementation timeline, costs, and any re uired customi ations. Additionally, ensure your team is prepared for the adoption process through adequate training and ongoing support from the vendor. Our guide on PIM implementation best practices might be of interest.

Examples Of PIM And PXM In Action

To illustrate the benefits of PIM and P M solutions, let’s take a look at two hypothetical case studies:

PIM Success Story: Company A

Company A, a leading retailer, faced challenges in managing their growing product database and distributing accurate and consistent product data across multiple channels. By implementing a PIM solution that centralised data management, Company A managed to streamline workflows, improve data uality and reduce their time-to-market, resulting in a significant increase in online sales.

PXM Success Story: Company B

Company B, a global consumer electronics brand, wanted to elevate the online experiences for their diverse customer base. By adopting a PXM solution, they were able to optimise their product content, presentation and design based on customers’ preferences and browsing habits. This personalisation led to higher engagement rates, customer satisfaction, and ultimately, increased sales revenues.

Summary

In conclusion, understanding the differences between PIM and PXM is crucial for businesses looking to optimise their product data management and deliver outstanding customer experiences. By carefully assessing your needs and considering the key differences and benefits of PIM vs P M, you can choose the ideal solution to drive productivity, efficiency and sales growth.

EXPLORING THE LATEST PIM TRENDS

Product Information Management (PIM) systems have become increasingly important in recent years, with the constant evolution of technology and consumer expectations. In this article, we will delve into PIM’s growing importance, explore the top PIM trends to watch, discuss the benefits of implementing these trends, and provide guidance on choosing the right PIM solution for your business. Finally, we will look at how to prepare for the future of PIM.

The Growing Importance Of PIM

Several factors have contributed to the rising significance of PIM. Among these are the shift towards digital commerce, the need for efficient data management, and the demand for personalisation in customer experience.

The Shift Towards Digital Commerce

The COVID-19 pandemic accelerated the adoption of digital shopping and altered consumer behaviour. As a result, retailers must adapt in order to survive and thrive in the digital economy. PIM systems play an important role in ensuring that companies can deliver accurate, up-to-date product information to customers which, in turn, enhances the shopping experience.

A PIM platform can help businesses manage product information across multiple channels, including ecommerce websites, mobile apps, and social media platforms. By doing so, retailers can ensure that customers receive consistent and accurate information about products, regardless of where they are shopping.

PIM systems can also help businesses optimise their product listings for search engines, making it easier for customers to find the products they are looking for. This can lead to increased traffic and sales for businesses.

Zuzanna Patocka, Digital Marketing Specialist at Bluestone PIM explains

“PIM software is used to collect and enrich product information, but it also provides extra components like data quality, data completeness, aggregation, and syndication. These features allow ecommerce businesses not only to centralise product information but also to easily syndicate consistent and accurate information to various sales channels.”

PIM software has become increasingly important under the advance of digital commerce, the need for efficient data management and the demand for personalisation in customer experience. By implementing a robust PIM system, businesses can improve their product data management, enhance the shopping experience for customers and increase sales and customer loyalty.

Top PIM Trends To Watch

Enhanced Data Governance And Security

Evaluating Implementation And Support Services

The implementation and support services offered by PIM vendors can vary significantly Ensure that the vendor you choose provides reliable customer support, training resources and assistance with implementation, so you can maximise the potential of your PIM system.

Preparing For The Future Of PIM

The Need For Efficient Data Management

With the ever-growing amount of data generated by businesses daily, efficient data management becomes increasingly important. Implementing a robust PIM tool allows companies to manage product data centrally, streamlining operations and making crucial product information easily accessible.

A good PIM system can help businesses reduce errors and inconsistencies in product data by providing a single source of truth for all product information. This can save businesses time and money by reducing the need for manual data entry and correction.

PIM can also help businesses improve data governance by defining data standards, creating workflows for data approval, and providing audit trails for data changes. This can help retailers ensure that their product data is accurate, complete, and compliant with regulatory requirements.

Personalisation And Customer Experience

Consumers now expect personalised experiences that cater to their specific needs and preferences. PIM systems enable businesses to curate tailored product assortments and offer customised recommendations, ultimately driving customer satisfaction and loyalty.

For example, PIM can help businesses analyse customer data to identify trends and preferences, which can be used to personalised product recommendations. This can help businesses increase sales and customer loyalty by providing customers with products that better match what they’re looking for.

And PIM systems can help businesses create targeted marketing campaigns based on customer data, such as demographics, purchase history, and browsing behaviour. This can help businesses improve their marketing ROI by delivering more relevant and personalised marketing messages to customers.

Several Product Information Management trends have emerged in recent years, including AI and machine learning integration, enhanced data governance and security, omnichannel experience optimisation and cloud-based PIM solutions.

Claudia Martins, Business Development Advisor at Bluestone PIM says:

“The PIM market has been shifting towards composable commerce. Driven by modern API-First and SaaS trends, a composable architecture helps businesses build better-performing digital experiences with less effort and faster than traditional stack architectures. MACH-based* PIMs fit better with other best-of-breed components into a composable ecosystem.”

(*MACH architecture enables the implementation of a composable commerce approach. MACH is a set of four modern technology principles based on best-of-breed solutions. The acronym stands for Microservices, API-first, Cloud-native, and Headless.)

AI And Machine Learning Integration

Artificial Intelligence (AI) and machine learning are transforming the PIM landscape by automating data management tasks, enhancing data quality and providing valuable insights for decision-making. These technologies help businesses better understand customer behaviour, optimise product assortments and drive sales growth.

As data becomes more valuable, ensuring its security and accuracy is of the utmost importance. PIM solutions now place greater emphasis on data governance, providing businesses with features like role-based access controls and data validation tools to safeguard sensitive information and maintain high data quality standards.

Omnichannel Experience Optimisation

Optimising product information for multiple channels is essential in today’s interconnected world. PIM platforms enable businesses to manage and update product data consistently across various sales channels and touchpoints, ensuring a seamless and fluid customer experience.

Cloud-Based PIM Solutions

Cloud-based PIM solutions are gaining popularity due to their flexibility, scalability and cost-effectiveness. These solutions allow businesses to access product information from anywhere, at any time, making collaboration and data management more efficient.

Benefits Of Implementing PIM Trends

Businesses can reap numerous benefits by implementing the latest PIM trends, including improved product data quality, streamlined product information management, enhanced collaboration between teams and increased sales & customer satisfaction.

Improved Product Data Quality

Implementing modern PIM platforms leads to better data quality by reducing errors, ensuring consistency and providing real-time updates. High-quality data drives more informed decision-making and contributes to improved business outcomes.

Further reading: 5 Best Practices for Implementing an Effective PIM System

Streamlined Product Information Management

Good PIM solutions centralise product data, making it easier to manage and maintain. This streamlining of data management processes leads to increased efficiency and better allocation of resources within a business.

Enhanced Collaboration Across Teams

With all product information stored centrally, teams across the business can easily access and collaborate on data. This leads to more effective communication and a united approach to product management.

Increased Sales And Customer Satisfaction

By providing accurate and up-to-date product information, businesses can enhance the customer experience, leading to increased sales and customer loyalty. PIM solutions enable businesses to deliver the personalised experiences that consumers demand.

Choosing The Right PIM Solution For Your Business

Selecting the best PIM system for your company involves assessing your business needs, comparing PIM vendors and features and evaluating implementation and support services.

Assessing Your Business Needs

Before selecting a PIM solution, it’s vital to analyse your business’s specific needs, including its size, markets and data management requirements. This will help you identify the features and capabilities necessary for your company’s success.

Comparing PIM Vendors And Features

There are numerous PIM vendors on the market, each offering different features and functionalities. It’s essential to compare these vendors and their solutions, keeping your business requirements in mind. Look for features like AI and machine learning capabilities, data governance tools and support for multiple channels when evaluating solutions.

To stay competitive, businesses must prepare for the future of PIM by adapting to evolving consumer expectations, investing in continuous PIM improvement and staying informed about emerging technologies.

Adapting To Evolving Consumer Expectations

Consumer preferences and expectations will continue to change as technology advances. Businesses must be agile and ready to adapt their PIM strategies to meet these evolving needs.

Investing In Continuous PIM Improvement

To maintain a competitive edge, companies should continuously invest in improving their PIM systems, regularly evaluating their performance and seeking ways to optimise processes, data quality and user experience.

Staying Informed On Emerging PIM Technologies

Technology is constantly evolving and the Product Information Management market is no exception. Staying informed about emerging PIM technologies, like AI and machine learning, will enable businesses to capitalise on new opportunities and maintain a competitive advantage in the market.

Claudia Martins sees an AI-led future for PIM ahead:

“AI is the future of PIM. AI technologies can be used to analyse customer data and create personalised shopping experiences. To gain their customers’ loyalty, retail companies are shifting to AI to enhance their operations and improve the customer experience. The use of AI technologies is revolutionising the retail industry, but it all goes back to your product information: it needs to be optimised and up-to-date before you can take full advantage of these advancements.”

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