Why do so many companies need a PIM solution?
Product data is becoming more and more important, both when it comes to online marketing and sales and in terms of the ability to meet general documentation requirements. A PIM solution is therefore increasingly necessary as a tool for basic management of the product data process, which starts in procurement or production with data from manufacturers and suppliers. If you have an online shop, proper management of product data can have a direct impact on your ability to get new products on the shelf quickly and generally increase sales and capture new markets.
When should you consider a PIM system?
If your data is stored in different systems, including Excel, and you spend time moving it around and retrieving it from different places, the time has come. A PIM solution will also create value in these situations:
See how PIM creates value for Illums Bolighus
What is a PIM solution?
PIM stands for Product Information Management, which involves the processes in your company that collect, maintain and distribute product data. PIM and e-commerce are often mentioned interchangeably, because one of the main tasks of PIM is to provide the online shop and other sales channels and materials with data.
However, product data management solutions are becoming increasingly common at companies due to the fact that they also help to streamline product data processes and thus save a lot of time in the different departments.
A great many people are often involved with handling product data, including product managers, procurement, marketing and e-commerce. That in itself takes structure and central management.
What are the signs that we need a PIM solution?
The time has definitely come when two “curves” cross one another: the upward curve for increased data requirements and the downward curve for efficiency in working with product data. If the two curves are left to develop of their own accord, the company will find itself on course for a kind of product data chaos that could quickly lead to a loss of both turnover and profit. And, if nothing else, it will tie up a lot of manpower that could be put to better use.
Signs that things are headed in the wrong direction are that the quality of your product data varies greatly; that it is retrieved from multiple sources, including spreadsheets; that it has to be amended in different places, and that data is not there when you need it.
What is the benefit of a PIM solution?
You achieve transparency in all your data-related work, and you will no longer be in any doubt about where the data comes from or who “owns” it. You can find data easily.
You can wave goodbye to managing data in the ERP system and to the system adaptations that are often required because ERP is not designed to manage product data. Instead, there is full integration between ERP and your PIM solution.
This makes it easier to import data from a supplier through automated processes, cutting out “tedious” manual work and minimising errors.
The PIM solution will generally save your organisation time and money.
The sum of all this will mean, by all accounts, that you can be more confident in the quality of your data.
What should we consider when we want to implement a PIM solution?
It is important to get off on the proper footing, and for many companies it might be a good idea to include PIM in the project when upgrading an ERP solution. This means implementing the solution that is most fit for the purpose – best-of-breed – and that this part is taken out of the ERP project and thus slims it down.
How a PIM solution creates value for your business
PIM makes it easy to distribute data across many channels and media
The employees who currently provide the information for your products will enjoy a better and more efficient working day.
Helps you with your ERP upgrade
You will have the option – often at no extra cost in time and money – to include a new PIM system in your upgrade project.
Your salespeople will have an easy opportunity to work with differentiated, customer-specific information.
The right data for the consumer
The consumer is given the right information and thus the best basis for making purchasing decisions.
A consistent customer experience
You will be able to give the consumer the same experience on all your platforms, as all data is retrieved from the PIM solution.
More items on the shelves
You can offer a larger range without having to set up the items in your ERP solution.
Fewer errors in product data
You will experience far fewer errors in your product data when you replace other systems and Excel spreadsheets with a best-of-breed PIM solution.
Easier campaign creation
It is easier to tailor campaigns based on a selection of products or product groups.
Easy to expand sales
It becomes easier to start sales through other channels when you have complete control of your product data.
International growth becomes easier as translation, updating and publishing are integrated in set processes.