What do you need to know about Product Information Management?

What is Product Information Management (PIM)?

It is a system that helps organisations to manage and maintain accurate and consistent high-quality information about their products across all channels and departments. This can include information like product name, description, pricing, images, and more. PIM systems significantly improve product data management.

They can also help ensure customers have access to accurate and up-to-date product information across all channels. PIM creates a positive customer experience and is a foundation of an omnichannel commerce strategy.

What business problem does PIM solve?

PIM can solve several business problems, including:

• Data inconsistencies
  PIM can help to ensure that product information is consistent across all channels and departments, reducing errors and inconsistencies that can lead to confusion and lost sales.
• Data duplication
  PIM can help to eliminate the need for manual data entry, reducing the risk of duplication and errors.
• Lack of customer trust
  PIM can help to increase customer trust by providing accurate and up-to-date omnichannel product information. It greatly reduces the risk of customer complaints and products return.
• Lack of resiliency to market changes
  PIM can help to increase agility in response to market changes by providing a central location for all product information that can be easily updated and distributed.
• Lack of integration
  Most PIM solutions have a vast number of 3rd party integrations for e-commerce, B2C and B2B solutions.

PIM features

A quality PIM solution should have the following features:

• Data import and export
  PIM systems typically include tools for importing and exporting product data, making it easy to get data into and out of the system.
• Data validation
  PIM systems often include built-in validation rules to ensure that product data is accurate and complete. Helps to identify and fix problematic or inconsistent product data and metadata.
• Data conversion
  PIM systems typically include tools for mapping data from one format to another, making it easy to integrate with other systems. This conversion often includes tools for transforming data, such as converting units of measurement or currency.
• Data organisation
  Organise product data based on attributes and/or similarities.
• Data enrichment
  PIM systems often include tools for enriching product data, such as adding missing product information.
• Data governance
  PIM systems typically include tools for managing data governance, such as setting up roles, permissions and monitoring data quality.
• Data distribution
  Distribute product information in an omnichannel way (e-commerce platforms, marketing systems, CMS).
• Search, filtering and navigation
  PIM systems often include built-in search and navigation capabilities, making it easy to find and manage products.
• Workflow management
  Managing the product information life cycle, such as setting up workflows for product approvals and revisions.
• Analytics and reporting
  Built-in analytics and reporting capabilities, making it easy to track product performance across multiple channels.

PIM vs. DAM

DAM serves to manage digital content such as images and videos. It is often used by marketing and creative teams to manage their digital content. We’ve made a list of the most effective DAM systems; we encourage you to read it!

PIM, on the other hand, helps us to manage and organise product information such as product names, descriptions, pricing, and images. PIM is often used by e-commerce teams and product managers to manage their product information.

Source of the photo here

DAM – used for digital assets management

PIM – used for product information management

Why consider PIM while using CMS or e-commerce?

You may wonder why we should even consider PIM, as many e-commerce or CMS systems offer similar features to PIMs. Imagine that you have a catalogue of thousands of products with many options and a complex description structure.

First, maintaining their descriptions and details in the solution that is not made for that purpose can be, so to say, unpleasant. Secondly, when you enter a vast amount of product information into your CMS or e-commerce, you are tied to your chosen vendor. If you want to change the vendor, you must export your data in the best scenario.

PIMs are more platform agnostic. You have a centralised product catalogue served in an omnichannel manner. The more products you have, the bigger your gain from using PIM.

PIM comparison table

Below is a detailed features comparison of six PIM solutions available on the market. We hope it will help you to select the best solution for your organisation.

That is it! We hope that you found the above information helpful and that it helps you to understand different PIMs better. Hopefully, it will help you decide which PIM to use. If you have any questions or if you would like to consult with us on the topic of PIMs, you can reach us at post.uk@noaignite.com

If you want to see a PIM in action, take a look at our recent Electrolux case study. We were responsible for the development of their Product Catalogue Tool, and PIM played a huge role in this project.