Implementing PIM System: How to Manage Your Product Data

Have you ever purchased a product online and then found that it does not match the product description? For customers, this is not only annoying, but also time-consuming - especially when they have to return the product and order from other suppliers. For brands, this means lost sales and a damaged reputation.

Remedy is provided by so-called PIM systems. They collect data from various sources, manage them in one place and distribute the product information across your sales channels. In this article, we take a closer look at the functions of a PIM system and explain how you can implement it in your company.

PIM system: Definition

Product Information Management (PIM) refers to the collection, management and distribution of all required product information in one central location. This includes basic information, technical specifications, and images, videos or documents for each product. PIM systems have been developed to simplify the management of product information.

A PIM software serves as a central platform where you can collect, manage and update product information and content. As soon as a product list is created or updated, the changes are automatically synchronized with all your connected channels and platforms. This saves your team a lot of time in managing product data and content from various sources. In addition, errors can be easily identified and corrected and duplicated entries can be eliminated.

Where can a PIM system help?

A PIM system streamlines internal processes so you can deliver consistent, accurate, and high-quality product information to your customers. The tool helps your employees with the following tasks:

• Data capture: A PIM system collects data from various internal and external data sources such as ERP, PLM or supplier feeds. You can also import CSV and XLSX files into the tool or connect it to a DAM system (Digital Asset Management) for product-related images, videos and documents.
• Data management: In a PIM platform you can clean and update all data and assets you own for your products. This can be anything - from technical specifications such as dimensions and materials to marketing information such as product descriptions and price details. If necessary, you can translate the product data for each market and region.
• Data distribution: All stored information from a PIM system can be easily published across your sales channels. These include marketplaces, resellers, social media platforms and e-commerce websites. In this way, customers can access the information they need at any time they want.

The benefits of PIM systems

According to Garner poor quality data costs companies $12.9 million per year. This not only has an immediate impact on revenues. In the long term, poor data quality increases the complexity of the data ecosystem, which in turn leads to poor decisions. To mitigate this problem, you need a PIM system. Below you will find some Benefits of PIM software:

• It streamlines the product information management process - from capturing and managing product information to distributing it across internal and external channels.
• A PIM solution can be equipped with data validation and deduplication tools that ensure the quality and consistency of the product data.
• Real-time data updates ensure that all team members have access to the latest product information at all times.
• A PIM system ensures data security by allowing you to assign access levels to various team members.
• It also promotes cross-functional teamwork by breaking down data silos.
• A PIM software also helps provide personalized product recommendations to customers by collecting and analyzing comprehensive product data.

Introduction of a PIM system: A step-by-step guide

The roadmap for PIM introduction can vary from company to company, depending on industry, business area, background and history. Here are some common steps for system introduction that your team could go through:

1. Identify your goals: Why exactly do you want to introduce a PIM system? Do you want to improve the quality of your product information? Increase the efficiency and productivity of your employees? Or reduce costs by introducing a single, multifunctional platform?

2. Determine the users of the system: Do you know who will use the PIM system in your company? You need to identify the future system users and their requirements in order to design the interface. This also simplifies access grant, as you know who uses and manages which data.

3. Specify the location of the data: When introducing a PIM system, you have the choice between centralized and decentralized data. Large companies usually opt for the first model due to their wide product range and complex data structure. Small companies, on the other hand, often use the decentralized model, where teams manage their own data individually.

4. Identify the required PIM features: There is no one-size-fits-all PIM software. To use it effectively, you should therefore adapt the system to the needs of your company. For example, should it support multiple languages? Will a DAM system be needed to manage your digital assets? Which software should be integrated into the PIM system?

5. Cleanse your data: Data cleansing involves identifying and eliminating (or correcting) errors and inconsistencies in your dataset. This process is crucial before you can migrate them into the new PIM system.

6. Choose a vendor: The choice of the right vendor ensures that the PIM implementation takes place on time and within budget. Therefore, you should consider the following key factors when choosing a vendor:

• How does the offer compare to other PIM vendors?
• Has the company already worked in your industry?
• Can the vendor meet your business requirements?

If you already have some vendors in mind, you should ask them for a quote for their solutions. Also request a personal demo for your company to see the system in action. Also watch out for the costs of implementing the PIM software, including license and maintenance fees.

7. Test, implement and monitor: Once you have chosen a vendor, it is time for the implementation phase. In the beginning, some products are migrated to the new system to test all functions of the software. This way, you can ensure that the PIM system works properly and test its performance. You can also identify areas that still need to change. Make sure that you train some of your employees in this phase to see if they are comfortable with the new PIM system.

Once you have passed the tests, you can introduce the PIM software to all end users. Remember that unlike other projects, a PIM implementation is not completed when the system goes live. It is important that you continuously review and optimize with new features to support your company's growth.

These are the best PIM systems

With the increasing demand for high-quality data, the market is currently flooded with many PIM systems. Here are some of the best PIM softwares:

The best free PIM softwares:

Akeneo

Plytix

Pimcore

The best paid PIM systems:

eggheads

mediacockpit

Contentserv

ANTEROS

Salsify

Catsy

PIM systems - a must for any company

B2B or not - high-quality data is the backbone of any business. This makes PIM systems so important for modern companies. By managing your data in a central hub, a PIM software ensures that all product information is correct, up-to-date and consistent. This saves your team a lot of manual work on data input and maintenance. At the same time, data silos are broken down and you gain control over all your product information and digital assets. Ultimately, a PIM system benefits your company in the long term by automating key business processes, improving team collaboration and streamlining data management.

Would you like to get to know more PIM systems? At OMR Reviews you can find an extensive list of PIM vendors. There you can inform yourself about all solutions and choose the right tool for your business requirements with the help of our verified user reviews.