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Does my company need PIM?

Four reasons your company may need PIM. 

PIM stands for Product Information Management. If your company has products to sell, needs to manage information, as well as multiple distribution channels, then your company needs PIM. Whether your company is in the beginning stages of e-commerce or a complex organization, it can benefit tremendously from a centralized location for data to help to organize, streamline and distribute information as a company grows. Here are four key benefits:

  1. One truth in the cloud. PIM offers a centralized storage location. Information kept by employees or departments can be scattered across desks or systems. PIM will centralize (and help sanitize) data and facilitate communication, saving time by making data more readily accessible. 

  2. Grow as your company grows. PIM systems can grow with your organization as it facilitates efficient data collection, management and output. It can support multiple geographic locations and translations. For example, if your company sells car parts, the product details and data needed to run your company efficiently today may be very different from details needed 20 years ago. However, the right PIM system can grow as your business grows.

  3. Maintain multiple distribution channels. PIM systems support multiple distribution channels simultaneously. Do you want to sell your products on your own site as well as on Amazon, eBay and other third party sites? Multiple channels provide multiple opportunities to grow exponentially. How will you manage the sales and inventory across systems? PIM is the answer. If another website pulls inventory, you will be the first to know, and you will have the information necessary to make decisions that will empower your business. 

  4. Sync across platforms and applications. PIM supports various formats and output. From old electronic data files to hardcopy, getting the information into PIM will help consolidate product information into a single platform. A single platform provides the foundation upon which sales and procurement processes are built (and PIM can publish to numerous platforms). For example, if your company has multiple vendors and purchasers to manage, PIM can automate workflow and sync across applications, allowing your company to make adjustments to quickly meet demand. 

Not only does PIM offer a centralized repository for product data, but it facilitates data management across multiple teams for seamless workflow, including warehouse, administration, merchandising and marketing. PIM empowers business to embrace a dynamic and multi-channel shopping experience, enter new distribution channels (domestic and international) and beat the competition to market. 

Our studio can work with your business to create a custom PIM solution to help centralize and manage data and solve workflow issues. Contact us today.

Reference:
https://en.wikipedia.org/wiki/Product_information_management