A Product Information Management System (PIM) is a solution that makes it easy to centralize, organize and improve product data. The fact that this is centralized makes it easier to properly disseminate and make available the most up to date product information. In case those two sentences weren’t enough, here are 6 reasons why your organization should consider implementing a PIM solution to manage product data.
1. Get New Products to Market Faster / Improve Time-to-Market
The speed with which new products are ready to be put on the market is extremely important. A PIM solution allows you to create and enrich all content pertaining to your new product, and then it makes it easier for you to push the most up to date product data and media across all channels. This adds up to a considerable decrease in the time and stress required to bring new products to market.
2. Easy to increase the quantity of product categories and broaden your product offering
Anyone who wants to expand their website’s offering from a few hundred products to thousands should be using a PIM. A PIM allows you to import structured files and product data from many of your suppliers and allows you to improve internal product information flows, which will get them ready to be put online and sold that much faster and more easily.
3. Developing New Markets
Developing new markets means translating and adapting content for these new realities. A PIM solution can easily integrate translation into your workflow – you can even mandate a translation firm to translate all content in your PIM, which they can do with a widget that connects them directly to the PIM, sparing you the management of all those files and all that data.
4. Eliminate Chaos, the Multitude of Overlapping (and Missing) Excel Files and Improve Overall Management
A PIM solution will centralize any and all product information into one single system. Never again will you have to manage dozens of disorganized and partially complete Excel files. An enterprise-level PIM allows for the creation of roles and responsibilities with regards to improving product information. The more elements of info a product has, the closer it is to being at 100% completion. Depending on the percentage of completion, tasks can be assigned to the proper person, internally or externally – a photographer or a translator, for example. This way of working allows for much more control and better internal management of product data.
5. Increase Conversion Rates
Several factors will help or hurt an eCommerce site’s conversion rates. The quality, quantity and depth of information available for any given product are definitely important pieces of the puzzle. If anything, Amazon has taught us that there is no such thing as “too much product information”.
A PIM solution enables you to easily manage and improve your products’ information profile with content, attributes, images, videos, comments and any other relevant information, thus providing you with more tools and options with which to positively optimize your conversion rates.
6. Standardize Product Information Across All Channels
Standardizing product information across all communications channels is no easy task for ANY marketing department. Faced with multiple disorganized files, it’s hard to stay on top of things and produce something coherent.
A PIM solution standardizes and centralizes product information and makes it easier to properly disseminate it through all your channels, including Website, catalogs, marketplaces, brochures, price lists, in-store displays, etc.
Absolunet and inRiver
Absolunet has partnered with InRiver, an internationally recognized PIM solution ranked as a “Strong Performer” in the Forrester Wave. We have several in-house InRiver certified professionals, specialized in business analysis as well as technical implementation. Absolunet has recently been named InRivers’s “North American Partner of the Year” for 2014-2015.