In a nutshell, PIM (product information management) software makes it easy for merchants to manage their product data from just one central system.
By using a single view of all their products, businesses have a much clearer opportunity to rectify inconsistencies and missing data within their catalogue and ensure that all crucial attributes are present.
As products are optimised and data enriched, catalogues can then be updated quickly to be marketed and sold across multiple distribution channels including websites, third-party marketplaces and mobile apps.
Traditional data management could take hours upon hours of manual sense checks and edits, which doesn’t guarantee that all attributes would be addressed.
PIM provides commerce businesses with the opportunity to overhaul their data management, providing a cost-effective way of viewing incomplete data at a glance, reaching new marketplaces, and informing better purchasing decisions.
With the PIM landscape constantly evolving, it can can be confusing keeping up to date with acronyms and synonyms for similar products. Here’s a quick overview:
PIM is software based around a central set of product information, which can be updated and edited quickly and easily.
Usually associated with CAD (computer aided design) PDM focuses on managing and tracking the creation, change and archive of product updates.
PDM covers the entire product process from initial inception, design and manufacture
An extension of PIM to include areas such as personalisation, automation and product content analytics.
As well as this range of P-based acronyms, there are several other common terms used, such as:
This allows businesses to manage resources such as assets, HR, IT systems and logistical operations on a large scale
Organises, stores and collates files, permissions and distribution rights for digital assets including images, music, video and other multimedia content
Allows you to reach audiences by any channel by publishing rich media content
Any PIM worth their salt will be able to operate smoothly with your key systems to provide a streamlined product enrichment service.
Hosting all product data in one central repository allows you to update product information including inventory availability, imagery or pricing to catalogues, webstores, marketplaces and all other services connected to your PIM – saving you countless hours of manual data entry.
In essence, PIM allows you to take advantage of the following benefits:
If your product catalogue is proving unruly to manage, and your goals of reaching new marketplaces are being held up by a bottleneck of your staff’s workload then a PIM is the solution you should seriously consider.
As Akeneo PIM partners, iWeb can help you consolidate all of your data into one easy to use solution. Better product information means more purchases and fewer returns with a typical conversion rate increase up to 55%.
Contact us today for a consultation on how Akeneo PIM can help overhaul your product management.