Product Information Management (PIM) is a method whereby companies manage the information required to market and sell products.
A PIM solution provides you with a master repository for product information, helping equip your business to effectively manage and optimise product data in one simple to use, centralised system which can be accessed and maintained by multiple departments (and if appropriate your trading partners). While most ERP or accounting systems allow you to manage basic product information such as name, UPC and SKU, most are not intelligent enough to manage rich content in the same way a PIM solution allows.
How does PIM work?
Consistency Whois the key to success to win in today’s omni-channel retail environment. Brands must deliver compelling and consistent content that stands out and converts visitors into buyers, but as new products and channels are added, the effort required to keep this up to date can become overwhelming. A PIM solution provides your team with a central repository and automated work flows to meet this critical challenge. With PIM you can can quickly and easily manage product information for all your distribution channels in a systematic manner, removing the need for multiple spreadsheets and databases and eliminating the manual rekeying of product data into multiple systems, thereby streamlining internal processes.
What is a PIM workflow?
A PIM workflow starts by sourcing product content from disparate sources, and validating and consolidating the information in a master repository. From there, content can be enriched with additional value-added information and then published to various internal and external systems.
As a result, PIM ensures that all your partners have consistent, accurate information across your product lines. Plus, when updates to a product are needed, they can be executed directly within the PIM interface, and then automatically distributed to your entire supply chain, as well as your internal business systems.
Who should use PIM?
A PIM solution is for companies who are looking to grow their brand and sales through digital channels. An Aberdeen Group research report identified that companies using a PIM experience a 16% increase in product sales through better conversion rates with their ecommerce business. Conversion rates are driven by enriching product information across different digital channels and ensuring products are discovered more easily by intelligently managing product information. Adding to this, companies operating a PIM can offer a uniform customer experience across all channels by synching product information across all selling platforms. More information on who PIM is for can be found here.
TrueCommerce PIM Solution
The TrueCommerce PIM solution enables companies to centrally manage a broad set of data including digital assets such as images, videos and specifications, communal data such as user ratings and customer testimonials as well as an extensive set of product attributes. The TrueCommerce PIM solution helps our clients increase sales through better conversion rates and improved product visibility, minimising returns on orders by providing buyers with the information they need to make the right choice and reduce the cost and complexity associated with managing and distributing product content.
A PIM solution enables you to do business in every direction.