What is Product Information Management (PIM) Software?

Introduction

Product Information Management (PIM) is a set of tools and processes that centralize and handle an e-commerce company’s product information to provide a single, accurate overview of product data. PIM software is a centralized platform that helps you to manage data on an e-commerce firm’s services and products in a cost-effective manner. The solution enables you to maintain quality and consistent product information and data.

The difference between PIM and the similar catalog management software is that PIM encompasses more and goes further than just data enrichment. PIM garners information from several data formats and sources, and merges them into one source of master data. In addition, PIM enables you to spot and correct inconsistent or problematic data, and exports data out to chosen distribution channels. PIM tools can integrate with data quality, business process management, and catalog management platforms.

PIM software helps to automate data and the business processes of e-commerce entities. They typically have a functional filtering tool or search bar and a useful search engine. You can use the application to create categories to organize items. Finally you can push info/products out to sales, marketing, social media, or retail channels.

Features of Product Information Management (PIM) Software

PIM software communicate and work with other programs, enabling e-commerce websites, electronic product catalogs, online portals, web services, and other similar platforms to automatically access and get product info from the PIM and showcase it wherever they want. Common capabilities and features of PIM include:

• Media-neutral and centralized data management
• High level of flexibility and configuration
• Output, transfer, maintenance, and management of product info
• Management of production, purchasing, and communication data
• Data preparation for particular target markets
• Cross-media, manifold usage of stored product info
• Supports content supply chain
• Supports system workflows
• Automated production of offline/online target formats (HTML, CHM, RFT, PDF etc.)
• Integrates with ERP and other databases and systems
• Data consolidation in varied system environments
• Support for online and printed publications (data sheets, leaflets, digital catalogs)
• Translation management
• Digital asset management (DAM)
• Media asset management (MAM)

Other features may be provided depending on the software vendor. PIM platforms are normally offered in functional components or modules such as DAM, MAM, PLM, MDM etc.

Benefits of Product Information Management (PIM) Software

Easier Integration

PIM tools are simpler to integrate compared to business enterprise solutions. For instance, an ERP requires greater customization than a PIM. With this flexibility, you can customize PIM to handle all your data processes. This helps you reduce costs on marketing new products and management.

Saves Money

A quality PIM platform reduces supply chain and operational costs. Info accuracy minimizes management risks and helps you avoid the costs of poor product data. Enterprises can replace out-of-stock products before consumers start complaining. Moreover, suppliers can utilize the PIM information to audit and enhance their delivery processes. This improves the customer experience and empowers suppliers to outperform the competition.

Saves Time

PIM software allows you to save time spent on tasks and concentrate on important jobs. It minimizes the need for manual data entry and makes it simpler to search for goods and update the inventory. Plus, the PIM tool enables you to easily streamline info and clean data. This gives your employees more time to focus on other profitable work. Plus, it helps to reduce data management annoyances which can impact staff morale.

Improves Customer Experience

PIM applications give buyers consistent access to relevant and detailed product info. This minimizes complaints and product returns as well as shopping cart abandonment. Moreover, with PIM software, you can offer new products to consumers much faster. Customers can view the quantity of stock available when they wish to buy a product. The info enables business reps to serve consumers more efficiently.

Buyers can research and find what they want, and then go to the checkout area to purchase it. This transfers the control to them rather than an agent who pushes them to buy.

Efficient Product Info Management

As your business grows, you are sure to launch new products. This can make it hard to keep track of all the product data, which can lead to disorganization and impact the customer experience. The solution is to invest in a reliable PIM program which makes it easy to manage and organize all product info. Plus, the platform enables you to effortlessly share the data across multiple channels.