A product information management (PIM) system is a central location for all product-related data. It simplifies the process of updating information and launching new products. It lets users manage complex product information so they can sell more easily and support their existing customers and partners.
A PIM allows you to track and manage the data for products. This could include technical data, usage specifications, product stories, media files, marketing information, videos and catalog details. With a PIM, you can also track data usage, so you can see how partner companies are using the information. You’ll know what data is important for users, and what marketing material is boosting sales.
If you are an online retailer that currently sells products on multiple channels, manages a large number of SKUs, and desires to expand globally, you probably already see the need for a PIM system.
But with so many platforms available, what are some things to look for when selecting a PIM system for your business? Let’s consider a few.
1. User Friendly
Since your PIM tool will be handled by multiple people in your organization, it’s important that the platform you choose be user friendly and easy to learn. Having an easy-to-use PIM system for your business will lighten the load of your employees and improve productivity. A PIM is only a benefit when it is being used.
An easy-to-navigate PIM will help businesses manage their data more conveniently and make things easier for workers to search and navigate. In addition, a customizable PIM is also important for your business to be able to set its own catalog structure, thus helping you operate at peak performance.
Please note that ease of use does not mean that your PIM shouldn’t have user roles. You’ll want one that can segment user permissions, allowing only those with the correct permission to make changes to the data or upload new information.
2. Can Handle Complex Product Information
If you have a large product selection, make sure your PIM can handle complex product information. Your business will likely vary in size as time goes on and you will need to manage multiple product tiers and your product relationships, and keep up with the business and catalog growth.
Various product variations will have different SKUs, prices and details. You may even have multiple SKUs for a single product, depending on how it is sold. You may have connected products, a complex hierarchy of related products, or multiple languages.
Make sure you have a PIM solution that can handle all this information and grow with you as your business grows.
3. Supports Cloud Technology
Cloud technology will also provide additional storage for scalability and easy accessibility for your clients and partners. In addition, a cloud-based PIM system will give you control over your product information from one location and distribute information across all the sales channels.
With cloud support, you will not need to install or download software on your devices since the data is stored in cloud systems. In addition, data can be accessed from any location.
4. Provides Seamless Integration Features
Your PIM should have seamless integration features to easily connect with other business software. These features will remove the hassle of setting up additional plugins and will equip your ecommerce store to its full potential.
By means of an API, product data will be easily transferred to your ecommerce platform and marketplace. Seamless integration will provide high-quality, current product data that is always available.
5. Supports Open APIs
Open APIs allow the owner of a network-accessible service to provide universal access to consumers. They are very useful for businesses looking to integrate the software tools they use every day.
Open APIs are also very helpful to developers. They give them free access via the internet and enable them to use certain features of a software program that would otherwise be difficult to access without developing a large amount of code.
6. Contains Customizable Data Options
Different products have different attributes and therefore have different information. A PIM with customizable data options will allow you to easily define the product attributes required for each group of products whether it's weight, color, size, and more.
Furthermore, when you use data in various media such as a website, paper catalog, sub-catalogs, or price lists, a customizable PIM will give you the ability to create multiple assorted sorts and control over the order of the product groups.
7. Reporting and Analytics Capabilities
Analytics gives deep insight into metrics such as product performance, data and quality management, and customer engagement. These metrics will allow you to make important decisions about your business, such as opportunities for improvement, and help you further optimize product information.
Choosing the Right PIM Software
PIM software comes in many different shapes and sizes. With so many platforms available it can be difficult to choose the right one for all your business needs.
GO2 Partners is composed of a team of marketing and operations specialists who identify business challenges and create strategic solutions to solve them. Contact us today to learn more about our PIM systems or business technology solutions.