Product information management software (PIM)
Product Information Management Software (PIM) is a solution that is used to market and sell various types of products via distribution channels. Without a centralized location for storing data, companies rely on tedious and time-consuming spreadsheet-based manual data management that make it virtually impossible to satisfy the increasing demands of ecommerce markets. There is no need to spread all across your data, as you can easily manage, consolidate and improve media websites, ERP systems, print catalogs, and data feeds by implementing useful product information management tools. Therefore, if your goal is to find a solution that is centralized, offers independent data maintenance and collection product information, management capabilities are the right fit for you!
The concept behind PIM (product information management) has gained its prominence around 2003 due to dramatic increase in the ecommerce market share and popularity of online stores. Other reasons include:
• The demand for clear product descriptions that can be easily understood by the consumers.
• A wider range of products that can be offered online compared to physical retail stores. It is definitely hard to manage all of the product data in the spreadsheet and not go crazy.
• The increased amount of legal information about the products’ manufacturing information, materials source etc.
Besides being a relevant software for regular retailers and manufacturers, PIM management is also used for a wide range of products and their frequently changing characteristics, online business and electronic commerce. In order to exceed in providing the best service, product information management solutions must:
• Collect all the information from multiple separate sources into a single centralized one;
• Locate and eliminate problematic or damaged data;
• Offer automation of many e-commerce business data processes;
• Possess a search tool as well as a filtering tool.
• Work with effective search engine software.
• Manage product listings and organize them into categories.
• Promote and market products using retail, social media and sales channels.
There are many product information management tools with open source architecture that will help you create your data repository in no time and get your products to the right sales channels quickly. If you are able to get your data quickly you can pass it to all your retailers and marketplaces rapidly by utilizing product information management system.
Content gaps? With product information management software open source solutions you can measure the completeness of your product content, locate information gaps and perform changes to satisfy any of your company’s requirement or industry standard.
If your end goal is to provide your customers with the best customer experience, PIM (product information management) allows you to match customer profiles with their preferences and with the product description. This allows for a personalized service and for increased conversion along with great customer experience. Some of the best trends and practices that a good PIM software can offer are:
• Data quality: multiple organizations have already implemented PIM in their best practices. Now, however, the focus has shifted towards optimization of those large amounts of data.
• Template based solution: Multiple successful vendors offer their clients great templates to achieve faster implementations.
• 360 degrees product overview will satisfy the customers’ demands for the full view of the entire products.
• Cloud: Product data that can be stored in the cloud prevents you from unexpected data loss and increases the number of available data to the customer at a given moment.
In the end, while looking for your perfect product information management application, always consider your end goals and ways meeting them. This article helps you to discover the qualities that each PIM should possess. If you are striving for a successful ecommerce website, you must consider enriching your data with modern PIM (product information management) software.
Product information management software from Virto Commerce
Product descriptions, related assets, SEO, prices, inventory, cross-sell and upsell, shipping and fulfillment options, to name a few; can be stored and managed in Virto Commerce PIM software. For more complex enterprise ecommerce solutions, information can be gathered from multiple sources by integrating with EPR, WMS, PMI and other corporate systems.