What is PIM

The PIM system – is a vivid example which shows that business systematically choosing the path of digitalization. Especially the software is interested by e-commerce areas that deal with a huge number of SKUs (Stock Keeping Units), such as marketplaces. Such complexes clearly demonstrate the fact that the business of the future cannot do without software tools. The article will help to learn what a PIM system is and its main functions, as well as reveal the potential and benefits that are inherent in this software to its future owners.

PIM system is an abbreviation of the term Product Information Management. It is a software that allows to manage product content from a single location and transfer it across different sales channels.

The following example will help to understand the essence of the software: let’s imagine an e-commerce business at the start. At this point in the company’s life cycle, ordinary Excel spreadsheets are enough for the owner to fill in information about the goods. However, as the turnover grows, these methods will become inefficient and, in some cases, hinder the processes.

Everything changes when PIM systems are integrated into the company’s workflow. This software, as a single data center for goods, guarantees the accurate complication of the offer cards. The common database contains all the information on a specific item:

• factory name;
• technical characteristics;
• images;
• actual price range and cost dynamics;
• warehouse balances;
• other important data: certificates, licenses, etc.

What’s more, with just one button, the owner can transmit reliable information through various sales channels – to the marketplace, online store, or company’s website.

The modern market poses a number of important tasks for businesses. One of them – is the reliability of offers. PIM systems are developed to meet these requirements. For example, the pharmaceutical business. Here, it is critical that each item is described in detail (indications, contraindications). Or if the assortment includes expensive items that simply cannot withstand frequent logistics transportation in the event that the product does not suit the client due to inaccurate characteristics.

In general, a PIM system is needed in a number of situations:

• your business catalog contains products with complex technical data;
• warehouse information is stored in different sources: tables, text, and other sources;
• an owner uses several sales channels at the same time;
• there is a direction for the company’s expansion;
• you need to collect all offers from different marketplaces;
• an owner wants to quickly place new items without having to constantly and manually update the information.

The main advantage of the systems – is a reduction in the number of errors in goods management. Even a small inaccuracy in the real and presented characteristics can lead to client refusal. We don’t want that, do we?

A PIM system allows a company to optimize internal processes related to trade and not only to quickly put goods on sale. For example:

• PIM reduces manual work by about 80-90%;
• a single database of information eliminates the need to search for data from different sources – an owner has everything at hand;
• reduction in the number of typical errors that occur due to the human being factor;
• automation of control over the completeness of filling out SKU cards;
• PIM makes it possible to set up an optimal trading strategy with suppliers: for example, by analyzing data from the system, an owner can highlight specific items based on the level of sales;
• the phenomenon of “seasonality” is automatically leveled by PIM: you do not need to make changes to the catalog manually for items that have a seasonal trend in demand – all this is automated by the software.

Ultimately, end users will appreciate such approaches with their loyalty to the company.

One of the main advantages of a PIM system – is a wide range of tools for automating routine tasks, which will allow your staff to devote all their attention to higher-priority areas of the company’s development. These tools include:

• automatic data validation, as well as data import and export tools;
• standardization and formatting of data using information management models;
• adaptation of content to different sales sources: for example, the data set for Amazon and local marketplaces is significantly different - this is not a problem for a PIM system, it can be customized in any way;
• optimal communication with clients: the audience will receive only priority information.

Thanks to the integration of the PIM system, firms can more naturally attract a wide audience to their offers.

Does your business involve the production of specialty products? Then a PIM system – is a must-have in your processes. It is ideal for managing and automating data, accounting for product and goods information for further sale through a network of distributors and agencies. Thanks to the software package, suppliers will have a single source of information on your offers. Situations when product characteristics do not match its description will be a thing of the past.

Moreover, PIM provides a unique opportunity to monitor the turnover of the product range in the enterprise. Centralized data management and systematization of PIM catalogs solves a common problem of warehouses – the lack of reliable information on fund balances.

The implementation of a PIM management system can be divided into several stages:

1. Choosing the type of complex: out of the box, personal development, cloud services.
2. Developing the system for a specific business model. In this case, it is necessary to understand how and through what channels your company exchanges product information.
3. Synchronization of PIM with other information accounting systems, if they are present in the business. For example, ERP, CRM, and other accounting systems.

The final stage – is the launch of the software on the owner’s side and staff training in the basic system functions.

We have figured out what PIM is, so now let’s focus on ready-made products from developers:

• Akeneo. It is a master complex for centralized management of marketing and technical information of a company. Akeneo is used by more than 500 companies of the Enterprise class.
• Catsy. PIM/DAM/PxM system for the centralized management of product data. The software feature is fast deployment. It works on the basis of a cloud service, which reduces the cost of the server side.
• Inriver. PIM with deep marketing functionality. The software allows not only to track SKU cards but also to analyze what factors influence client decisions (decrease or increase in demand).
• Pimcore. PIM/DAM/MDM system for e-commerce. It is characterized by wide functionality and business process modeling. It is suitable for companies of any size.
• Plytix. A cloud-based PIM platform with a set of DAM tools.

The Plytix system is characterized by a simple and intuitive interface.

Let’s consider the price offers for the described software:

Don’t you want to depend on regular subscription fees, licenses, and other options of a software provider? Skylex Web Studio offers a personalized product created exactly for your company’s concept. A ready-made PIM system will have no analogues on the market, and its functionality will exactly meet the needs of your business. Skylex software – is your opportunity to put your company’s work processes in order!

PIM is not as popular as CRM or ERP, though, its capabilities are not inferior, and in some cases become indispensable in business. If your company works with a large number of sales categories and sources of product information, this software will provide an indispensable tool for solving typical problems. Why wait for the moment when processes get out of control – integrating PIM now will lead to cost savings in the future!