Why You Should Consider Implementing PIM For Ecommerce Business?
Product Information Management (PIM) is a very useful platform that helps the enterprise in managing all their crucial product details. It allows the company to collect, organize, manage, integrate, and share the product information with the different team members, end-users, collaborators, etc.
This product information includes the details like product description, technical specifications, costing, etc. that are shared across different channels for sales and marketing. The enterprise implements different applications that will help in enhancing the eCommerce business.
A Brief About PIM System
PIM platforms collate all the data related to the product for sales and marketing. The PIM for eCommerce helps specifically in managing the master catalog for the product used for the sales and marketing and reaching the larger crowd.
The Product Information Management system collects the data from the various locations that can give details regarding the product like the ERP system, suppliers, procurement, warehouse, data suppliers, translational agencies, digital asset information, customer reviews, etc.
PIM gathers and organizes all these details and prices to the different users like stakeholders, suppliers, manufacturers, customers, wholesalers, etc. PIM in eCommerce can handle the larger details for the product and also a larger number of products simultaneously and effectively. It allows for having a higher set of variations and customizations for these products.
If you are excited to explore more about PIM, What is PIM? – An Ultimate Guide for Product Information Management Services.
Key Features & Functions of PIM Software
Every software has its own set of features and functions that make them special and useful. The different features that the enterprise should search for while selecting the best PIM platform for the eCommerce business include:
1. Ease of data collection and importing
The data plays a very important role in the pimcore eCommerce as this product data is very crucial to boost sales and marketing. The main step in implementing a PIM system in the enterprise is the collection of the data from the different sources and then organizing it.
The customers should be able to access the product information from any device without facing any technical glitch, snag, or issue. PIM system also ensures that the data is stored and shared with the users securely.
2. Advanced feature for data analytics
The PIM feature provides the ability to analyze the data and create a personalized and detailed report. It allows in aggregating the product data from the different page views, purchases, add-to-cart details, etc. This data analytics enables enterprises to compare the product performance and monitor the product progress.
3. Bulk editing capabilities
It is important to provide accurate and updated product details across all the channels. Manually changing the data on all channels will be time-consuming and challenging. PIM has the feature that allows in making bulk modifications that are reflected immediately across the different channels. This saves time and effort.
4. Create and manage categories
The PIM software has a feature that allows the enterprise to manage the data with ease by categorizing these data on sites. The categorization is done based on segment list, specific traits, popularity, new launches, etc.
5. Advanced filtering
As the product catalog expands, there is an expansion in the product list as well as growth across the different channels. Product Information Management has a feature that allows filtering the products based on specific criteria.
This allows the customers to search for the right type of product without much effort and saves time. The filtering can be done by using different attributes and conditions simultaneously.
6. Seamless integration
With the growth in business and the number of products, the enterprise needs to include more channels to reach out to the larger potential buyers. PIM has features that allow easy and seamless integration by adding the newer channels or products with reduced efforts.
Visit Must Have Features of Product Information Management System to know more features of a PIM system.
How does PIM for eCommerce Business Contribute to Organizational Growth?
PIM acts as a very powerful tool that helps the enterprise in improving their eCommerce across the different channels. The different ways by which the implementation of the PIM system in the enterprise helps in the development of the eCommerce business include:
1. Fasten time-to-market
The time taken by the product to reach the market depends on multiple steps. The PIM system helps in improving the process at each step thus resulting in proper management of time and thus allowing the product to reach the market at a faster rate.
It decreases the product lead time by helping the different teams within the organization by having good communication and coordinated functioning.
2. Strengthen the omnichannel presence
The omnichannel platform enables the enterprise to reach out to customers and has improved customer engagement. PIM enables the enterprise to retain their customers and also attract the newer ones as it ensures that the true and accurate details reach the users thus building their confidence.
3. Expand the global reach
For the growth of the business, the enterprise needs to expand its products as well as reach through different channels. The global expansion needs to provide the product details to the potential customers in different countries in different languages. Also, they need to mention the cost in the local currency for making eCommerce easier.
PIM solution has the in-built ability to translate the available product details in different languages as per the need and also provide the costing in local currency. Implementing the PIM system makes the product ready for the global eCommerce business.
4. 360-degree view of the product
For an enterprise, it is important to have a 360-degree view of their product from all the aspects required for the eCommerce business. It should ensure that all the data provided to its users is truly accurate and also consistent across all the different channels utilized for the business growth.
This overview of the product details helps the enterprise to understand the key areas where they can focus their attention for better product development.
5. Orchestrate the contextual and personalized experience
Customer retention depends on customer satisfaction. PIM enables the personalized shopping experience to their customers thus gaining their confidence. PIM also helps in creating personalized content for their customers based on their needs.
This improves the product as well as the customer experience thus positively impacting the sales of the product. PIM also enables personalizing the content for campaigns and promotions.
6. Simplification of operational processes
The development of the product includes various steps that need proper monitoring. The manual processing of each step is time-consuming and takes lots of effort. Implementing a PIM system allows the different teams to stay coordinated on the progress at each stage.
PIM enables automation of the complex business process and it improves the productivity of the employees. This set of the simplified process will increase business leads to improve the business operational.
7. Enhance data quality
For the growth of the business, it is important to provide the best and most accurate product details to all its users. PIM ensures that it collects, organizes, and shares the best and most accurate details.
PIM helps in keeping the product details updated across the different channels. The quality of the data defines the confidence gained by the customers on the product and the brand.
PIM helps in improving the data quality by reducing the data inaccuracies that can be incorporated by manually handling the data. PIM solution allows checking and correcting the data centrally without affecting the brand image.
8. Single source for product details
As the product development progresses the product data increases and the channels also increase that are used for reaching out to the increased customers. Managing this voluminous data becomes tedious.
PIM can easily handle these data and can eliminate the errors and duplicate data while creating a single centralized source for the true and accurate product details. A robust PIM system enables streamlining all the processes that lead to the enhancement of the eCommerce business.
9. Streamline various tasks
PIM system allows in having highly scalable searching capabilities that ensure in providing easy and faster completion of the tasks within the enterprise. PIM system stores all the product details that are essential for product development at each stage.
PIM makes sure that each of the teams is well communicated about the status of product development. These updated details help the different teams to streamline the development process and for proper management of the time and work.
10. Amplification of product pages
Various types of product details are required by the different teams. All these product details include the technical specifications, descriptions, digital asset information, costing, etc. in the form of documents, spreadsheets, etc.
It is important for the proper storage, organization, distribution, and retrieval of these data. PIM makes sure that all this data is stored and managed efficiently.
11. Data security
PIM has the centralized storage of product details from different teams. To maintain the quality of the data and security PIM can provide the access to the specific teams for specific data for maintaining the data quality and security.
Explore the Best Methods to Create an Outstanding Product Information Management Business Case and drive unmatched success for your brand.
PIM Implementation Roadmap
The implementation process of the PIM system will differ from business to business, it truly depends upon the business sector, business activity, workflow, and history. Here are the lists of a few common phrases that every business should flow while implementing the PIM system.
Design & Discovery
Well, this section will help business stakeholders to understand the business process and business goal by conducting in-person practical workshops. Conducting such functional workshops will be helpful to predict the data flow in the system. In this stage, business stakeholders can have a complete understanding of the departments, teams, and entities who are dealing with the product data.
System Orientation & Data Modelling
This section is about learning and understanding the data management features & functionality along with its workflow. Moreover, this stage enables you to predict the main need for your business to migrate the PIM system. This section enables business leaders to build data models, attributes, and designs, along with the data requirements details.
Configuration & Migration
This section is about importing (manual & automatic) all the essential data and business documents into the PIM platform. In this section, business stakeholders can easily understand how business data is stored in the PIM platform. The data transportation to the PIM system can be determined and planned according to the needs of the business.
Integrating PIM software with other business tools and systems will create data synchronization and lead to the improvement of data. Experts’ advice to business stakeholders is to provide proper training to the employees by conducting appropriate role-playing sessions and test data workflow methodologies.
Potential Challenges While Implementing PIM System
During the implementation process of a PIM system, most enterprises might face problems and issues in arranging & distributing data/information. Here are the most common challenges faced by enterprises during PIM implementation along with its solution.
1. Inaccuracy & Inconsistency of Data
The PIM system allows multiple users to access the system; this can cause potential problems in data accuracy and inconsistency. The possibilities of causing such errors will be high when different users access the same PIM system.
Solution: PIM system has advanced functionality and features like data backups, seamless support along with activity logs. Using those functions, business leaders can easily resolve those errors by reverting data to its previous version.
2. User-friendly Interface
As data from the PIM system is widely shared among various departments this may lead non-technical users to access the PIM system. Such users may think the PIM system will be hard and too complicated to access.
Solution: PIM software is user-friendly and can be easily accessed by all types of employees. There is no need for any technical support for accessing the PIM system.
To get more clarity about PIM implementation, don’t miss to read Do’s and Don’ts to consider while Product Information Management Implementation.
The product competition is increasing and to stay ahead in the business, the enterprise needs to implement the PIM software for improved eCommerce marketing. It also provides solutions to meet the customer’s needs and expectations. PIM saves time, money, and effort in managing the product details across different channels.
The time saved by using the PIM platform can be utilized by the enterprise in other important tasks that require attention. PIM enables providing true and accurate product details to the users for increased sales of the product.