What Are the Greatest Benefits of a Reliable PIM System for your business?

Why do you need a PIM?

Let’s break down 7 benefits of having a PIM to solve your most pressing business challenges.

• Enhance data quality: A PIM platform stores your data all in one place. By using predefined lists and inherited values, a PIM looks to maintain data completeness and consistency. When importing information from external sources, it detects poor data and generates a report. This tracking feature will tell you if the product data is incomplete and reveals how many fields need filling. And with the power of Generative AI integrated, a PIM can do even more! It can automatically create compelling product descriptions tailored to different platforms, saving you valuable time and resources while enhancing your brand's story.

• Automate using workflows: PIM workflows are a game-changer for businesses of all types. They simplify complex product data management, ensuring accuracy and consistency across all channels. For B2B companies, this means managing detailed specifications and meeting industry regulations with ease. For B2C businesses, it means faster product launches and engaging content that resonates with consumers. Ultimately, PIM workflows enhance efficiency, improve data quality, and deliver a better customer experience.

• Reduce time-to-market: A business’ ability to bring products to the shelves quickly is very important, especially during high-demand shopping seasons like the Chinese New Year or Singles Day. In a fast-paced marketplace, an effective PIM solution acts as a centralised hub where you can manage product records more efficiently. This makes product launches a breeze! By accelerating the introduction of new products, businesses can meet customer demand faster and stay ahead of the competition.

• Improve omnichannel capabilities: A PIM solution enables businesses to have a centralised omnichannel strategy. It helps you maintain a unified brand voice, whether it’s your website, mobile app, or in-store kiosk. With tailored content delivery, you can decide on which product details to share on the Singapore e-commerce platform, which may differ significantly from what you display on your French home website. A good PIM significantly improves omnichannel capabilities, especially for B2B businesses. It enables suppliers to directly upload their product information into the system. For businesses with hundreds of suppliers, this offloads the work from the core team, boosting efficiency. When managing a portfolio of social media channels (e.g. Facebook and TikTok) as well as marketplaces (e.g. Amazon and Shopee), a comprehensive dashboard is essential. Businesses no longer need to worry about meeting platform-specific compliance requirements. An automated tool can update your product information accurately and distribute it anywhere in a fraction of the time.

• Enhance customer experience: A PIM personalises product information based on customer preferences and ensures the latest information is published across all customer touch points. Personalisation is typically implemented on the individual e-commerce platforms such as Salesforce Commerce Cloud and Shopify, creating a cohesive experience for customers. This leads to confident purchasing decisions and increased satisfaction. When customers are happy with the product, there's less chance of disappointment and returns. The right PIM platform definitely plays a role in elevating the customer experience and boosting conversion.

• Gain insights from better analytics: A more granular view of your data goes a long way. A PIM aggregates your product data and sales metrics to improve product performance and create new market opportunities. Armed with built-in reporting and analytics features, a PIM provides a holistic view of product data across sales channels and touchpoints. The insights gained allow you to identify and resolve bottlenecks and make data-driven decisions. With scheduled reports, you can free up your team’s time for more strategic duties while keeping your stakeholders informed.

• Go international without worries: Expanding to new markets is a way to increase your business revenue. Internationalising your brand is much easier with a tool that uploads your product data to multiple stores across different regions. Market expansion requires businesses to understand international customers. A PIM can be integrated with translation tools and customised with country-specific data such as safety regulations and legal disclaimers. This helps your business avoid potential legal complications when operating in different markets.

What are the key considerations before choosing and onboarding a PIM?

Selecting a PIM is a strategic decision that can have an influence on your business growth. Before you jump on board, there are some important factors that you need to consider to avoid choosing the wrong solution.

• Define your goals and plan your budget: First, before making any decision, you must have a set of clear business goals and objectives. Ask your marketing team if they need help for product content management and multichannel distribution, get the operations team’s point of view on inventory management, and consider your IT team’s preferences for system integration and data security. Once you are clear on your priorities, set a budget for a PIM system implementation. This allows you to get the most out of your chosen platform.

• Compatibility and scalability: Keep in mind that the PIM you choose must be able to integrate with your existing systems and software. It’s important to consider the size of your product catalogue and the complexity of your products. Look for solutions with robust data modelling capabilities that support hierarchical relationships such as parent product and accessories. As your business grow, you will face more complex customer interactions and manage higher volumes of data. A scalable PIM enables you to operate without interruption.

• Prepare for data migration: Many businesses underestimate the intricacies involved in data migration. You need to maintain robust access control, avoid data duplication, and incorporate custom fields for your products. This requires careful mapping of data to fit the new system. To prevent setbacks in your data migration journey, you need to have experts in your team. Don’t work in silos, get your departments on one page to make sure no data is lost or modified along the way.

What are the best PIM solutions in the market?

1. Plytix: Plytix is known for its user-friendly interface and affordable pricing, suitable for small and medium sized enterprises.

2. Syndigo: Syndigo serves over 14,000 global clients across various industries and prides itself on its omnichannel capabilities and end-to-end product content management.

3. Salsify: A cloud-native solution, Salsify boasts a comprehensive suite of features and a multi-tenant architecture.

4. Inriver: Built on elastic data model, Inriver is highly scalable and provide an end-to-end closed loop ecosystem.

5. Akeneo: Akeneo features a clean and user-friendly interface and comes in a free open-source version or the enterprise edition offering extensive customization options.

Maximise your PIM transformation with VISEO

Managing product data is no longer complex with the right solution and tech partner. VISEO has extensive experience in helping businesses design and implement agile and efficient omni-commerce platforms. We are experts at implementing PIM solutions for high-traffic events in industries like fashion and apparel, luxury goods, pharma, beverages, and, kitchen & cookware with a proven track record of supporting clients with massive product catalogs (2.5 million+ items) and extensive digital assets (1 TB+).

By partnering with us, you can maximise the value of your PIM investment. With our expert support in managing a PIM solution, we can help you design a unified product catalogue, implement an agile and efficient omnichannel platform and drive growth across all sales channels.

Discover all the opportunities that a PIM can bring to your business. Contact us today to learn more.