There are no products without product information. And, when the product information is the underlying asset of all products, then it becomes a necessity to come up with a central system that manages all the data throughout all the channels in the most efficient way. Often information is mis-communicated, files are misplaced and documents are mislabeled. That is when you require PIM.
What is PIM? (Product Information Management)
PIM stands for Product Information Management, which is a perfect solution for organizations and businesses that have a large amount of products to deal with. PIM has become a vital investment for businesses as it helps in handling all the content, data and material that are required to promote and sell products. It can dramatically improve the data quality and enables product expansion as your business grows.
#1 Improve Data Quality
Data quality is extremely important for e-commerce as it can really impact your customer’s ability to interact with your brand. High-quality data is attributed as clean and standard data that is suitable for multiple channels. You can create a perfect data set which allows you to manage catalog from different sources, so you can add, edit and delete your products from anywhere. Moreover, there will be no time lost in locating things. A user-friendly interface and automated quality checks on data content can ensure that the quality is maintained and improved.
#2 Minimize Management Risks and Costs
The PIM system was created to automate the manual product management processes. While receiving product data from dealers, they can use an appropriate data template to transport the required information. Automating such processes can dramatically reduce the management costs, which in turn,allows your employees to focus more the business than managing the inventory. This increases productivity, minimize the chances of errors and creates a smooth work process.
#3 Increase Customer Satisfaction
It has never been so hard to maintain customer satisfaction in the world of ever-growing e-commerce competition across various channels. Hassle-free returns coupled with handling costs are troublesome for many businesses.Therefore, providing your customers with richer, fuller and more precise data along with high-quality digital images can truly improve customer experience and reduce returns. Furthermore, you can deliver personalized digital experience by supplying your business with more comprehensive content.
#4 Expand and Grow Business
For any business to expand and grow, it is necessary to respond to market needs as they arise. Whether it is about finding a new market channel or acquiring new consumers, a PIM system can be of great help. With efficient data management and integration tools, PIM can help reduce the time and effort needed to aboard new products from strange sources. In addition, a PIM can help you organize your data in multiple languages and currencies, so you can reach out a wider customer base.
It is necessary for organizations to realize that today’s businesses cannot be run on yesterday’s systems. Although there are a number of factors to consider when it comes to selecting a suitable PIM, but an e-commerce owner should set their goals thoroughly before choosing. Doing a little research will help you discover the world of product information management tools for businesses of every shape and size.