What Are Examples of a PIM?

How products are sold has fundamentally shifted how product data is managed. Today, products are marketed in an omnichannel environment: social media, digital ads, landing pages, microsites, in-store signage, direct mail, billboards, and word of mouth, to name a few.

This vast communications web requires that every team within a product manufacturing company be fully aligned on what is shared about each product. What is the proper name of each product? What is the MSRP? MAP? What’s the warranty disclaimer? 

Teams need a centralized system to store and reference all product data.

Product information management (PIM) software is redefining how companies manage the data about every product. With the prevalence of emerging digital solutions, the importance of a PIM solution cannot be overemphasized.

What Is PIM Software?

PIM software, short for product information management software, is the system that is responsible for the comprehensive and efficient management of product data. This software acts as a hub for companies to store and manage the various sets of data that pertain to their products. This includes information such as product description, pricing, stock-keeping units (SKUs), benefits, features, dimensions, and many more. When integrated with digital asset management (DAM), the scope of the PIM software expands to include various forms of media, such as product images, how-to videos, owner’s manuals, and specs sheets.

At its core, PIM software serves as the single source of truth for all product information. This ensures a high level of consistency and compliance across the relevant channels and platforms, as well as the elimination of discrepancies. PIM software is also very collaborative in nature. It allows multiple authorized users to log into the system and work on it simultaneously. This enables real-time updates to be made and ensures that all the product's stakeholders have access to the most current and accurate data on the product.

In today's fast-paced digital world of business and commerce, the PIM system is a new necessity for every product-focused company. Manufacturers without a PIM are falling behind the competition as they are unable to get the information concerning their product to their audience in an effective manner. This can become a hindrance to the growth and success of the company. As a result, every innovative manufacturer is working hard to implement the most efficient PIM system for their business.

Why Use a PIM?

When it comes to manufacturing needs, efficient data management is a strategic necessity. This is due to the operational advantages it brings. For many manufacturers, product information is fragmented among several departments and stored in different locations. This disorganization of information can be very chaotic and confusing. It does no good to the manufacturing company, its distributors, or its customers. With product information management software, this problem can be eliminated entirely. The PIM software ensures that all the data concerning the product is streamlined, simplified, and centralized. This, in turn, ensures that employees can easily access and manage product data.

PIM software is designed in such a way that multiple authorized employees in several locations can gain access to it at the same time and modify the product information as needed. This improves collaboration between manufacturers and stakeholders, as well as promotes productivity. It also ensures that the product information is up-to-date.

A PIM also helps a company in its interactions with its customers. When set up effectively, the PIM can enhance the customer experience through the provision of current and accurate product information across the relevant channels. This portrays consistency in the message of the brand and goes a long way toward improving customers' confidence and loyalty.

What Are Examples of a PIM?

In today's world of digital commerce, several PIM solutions have emerged. These solutions are powered by several PIM software companies. Although similar, these PIM software also have their own unique characteristics and are designed to meet specific business needs.

Prominent PIM software examples include:

• Plytix

• Pimcore

• Salsify

• PIMworks

• Akeneo

• Inriver

• Catsy

• Lumavate

Let’s dive into some of these PIMs.

Plytix

This software has a user-friendly interface. This allows companies to centralize their product information seamlessly. It also has tools that enable data customization. This helps companies create attractive product listings.

Pimcore

Pimcore is known for its open-source architecture. This confers it with not only the ability to centralize product information but also digital asset management capabilities. These features make it flexible and allow manufacturers to customize their PIM solutions.

Salsify

This PIM system emphasizes the customer experience. It does this by enabling companies to share rich and consistent product information across relevant channels, building customer trust and loyalty.

Inriver

Inriver has several tools that help companies manage complex product data and enrich data. It also empowers them to manage and share consistent product data across multiple channels.

Catsy

This PIM software has a user-friendly interface and automation capabilities. These features simplify the product information management (PIM) process for manufacturers and improve their operational efficiency.

Lumavate

In addition to supporting them in the creation of the perfect PIM system, Lumavate specializes in enabling companies to create engaging digital experiences for their customers. This feature helps companies enhance the customer experience and build brand loyalty.

Which PIM Software Is Best?

As mentioned above, there are several PIM solutions available on the market today, each with its own unique features and capabilities. When choosing PIM software, a company needs to ask the following questions:

1. What Functionality Do You Really Need?

You must determine the specific needs that your company requires to be met by the PIM software. You have to match these needs with the PIM software that has the features that can meet your needs.

2. What Other Systems Do You Need to Integrate With?

You need to consider your existing IT infrastructure. When you do that, you should then choose PIM software that can integrate with your existing system.

3. How Will the Product Information Be Used?

You must determine the end goal of the information you want to manage and how you want it to be utilized. You must then choose a PIM system that can disseminate information through those channels.

4. What Type of Budget Is Defined for This Initiative?

You must know the resources available for the PIM project and select a PIM system that fits your budget.

5. What Is Your Timeline for Implementing a Solution?

Determine your implementation timeline. When this is done, choose a PIM software that can ensure the smooth and timely delivery of your project.

Lumavate is the first choice for anyone seeking a new PIM solution. This is because it offers complete Product Experience Management (PXM) functionality. This encompasses Product Information Management (PIM) to centralize product data, Digital Asset Management (DAM) for digital assets, and a Digital Experience Platform (DXP) for rapid digital product experience creation. It also incorporates text messaging features as well as a comprehensive form builder that can be integrated into the company's record system.

Lumavate has an unparalleled range of functionality, is 75 percent more cost-effective than other PIMs and possesses superior features.

Lumavate is the wise choice for businesses in need of a PIM solution.