What Is an Example of a PIM System?
by Lumavate | Last Updated: Oct 6, 2023
by Lumavate | Last Updated: Oct 6, 2023
A Product Information Management (PIM) system provides employees with the information they need to keep products in stock and answer customer questions. It also provides customers with the information they need to make informed purchases. In times past, companies often relied on spreadsheets, documents, and siloed databases to manage product information. Many are now adopting PIM software to store, edit, and share information related to their products.
A PIM solution is a central storage space for all product-related data. This includes SKU, pricing, features, benefits, dimensions, and functionality. If the PIM system has built-in Digital Asset Management (DAM) functionality, it can also store related data such as product photos, owner's manuals, how-to videos, spec sheets, and warranty registration forms. Employees who need information about a product can search for it in the system and all relevant information will appear on a single page. Furthermore, authorized system users can update information in real-time, as needed. When a manufacturer sunsets products and launches new ones, the product information management system can help manage these critical changes. Obsolete products can be marked as such in the PIM, ensuring they will not appear in any digital content. New products added to the PIM can have a launch date, ensuring the product information launches across all digital properties on a specified date.
PIM software can also create and update product information for customers, maintaining brand uniformity across multiple channels. What's more, it can offer information about related products when customers add a product to their shopping cart to boost sales and profits.
PIM tools, features, and amenities vary depending on the PIM system you select for your company. However, there are some features you can expect from most PIM software makers. Many PIM solutions are cloud-based. This allows employees to view and update information from anywhere.. Digital asset management is another common feature. It not only allows for the storage of product-related digital assets but also enables you to share these assets with suppliers, business partners, and customers. For example, if a customer needs the owner's manual or a how-to video for a product, or a potential customer wants to study the manufacturer's warranty, the digital asset management system makes this information easy to find and access. Lumavate's platform also offers product information management, a Digital Experience Platform (DXP), and a Form Builder solution.
Some of the most common PIM software companies include Plytix, Pimcore, Salsify, Inriver, Catsy, and Lumavate. The following PIM software examples will help you see what to expect from some of the best-known PIM system options.
Plytix offers digital asset management for all file types. It allows for an unlimited number of users and offers advanced filters, in-cell editing, scheduled imports, and product relationship building for forming sales bundles and cross-selling products. It has a change log and users can export data as a CSV, XLSX, or PDF file. Furthermore, Plytix's software is integrated with OpenAI to allow for automatic product description generation.
Pimcore's system has digital asset management, omnichannel publishing, product feed management, marketplace integration, and a host of other PIM tools and amenities. Its PIM applications are designed to make it easy for a company to share accurate, appealing product information with consumers.
Catsy's PIM software program is likewise designed to improve consumer experience. It not only stores information but also reduces listing time for new products offered for sale. Its features improve search engine results while expanding channel coverage. Important and categorizing information is a breeze with this system, as it has an intuitive taxonomy and allows for unlimited product attributes.
Lumavate is a feature-rich PIM system. It's designed not only for improved customer service but also to meet the needs of company employees. It allows users to list an unlimited number of products, product types, and custom data fields. It has a digital asset management system, and a change log for tracking edits and updates to your products. It also has a handy product relationship feature to help you upsell, cross-sell, and bundle products.
The cost of PIM software depends on the size of your business and the company you choose to work with. Many companies, including Catsy and Salsify, do not provide a pricing plan on their site. Rather, companies provide the specs they need for their PIM system and the PIM software provider offers a custom quote. The price can range from a few hundred dollars a month to over $100,000 per month. Other companies list pricing plans designed to meet the needs of small, mid-size, and large businesses. Plytix, for instance, starts at $450 per month for a starter program. The price rises to $900 a month for a custom program and $1,650 a month for a program with unlimited outputs. Pimcore packages start at €699 (over $730) per month. Lumavate's starter plan is $499 a month but includes far more features and amenities than starter plans from other platforms. It allows you to list an unlimited number of products, has unlimited DAM storage space, and allows five hundred unique digital experience visitors per month. The company's Growth plan is $999 a month while the Enterprise plan is $4,999 a month.
What is the best PIM software for your business? That is something only you can decide. There are plenty of great options to pick from. Your business size, budget, industry, and other factors will determine which platform would best suit your needs. Even so, Lumavate stands out from the pack not only because it offers low prices and has all the features and amenities you need to run your business smoothly, provide stellar customer service, and ensure brand continuity on all platforms. If you want to take your product information management to the next level in order to boost sales and lower overhead expenses, get in touch with us at your convenience for a free product demo and find out for yourself why business owners the world over trust us to manage their valuable product information.