How Does a PIM System Work?
by Lumavate | Last Updated: Nov 5, 2023
by Lumavate | Last Updated: Nov 5, 2023
If you're feeling frustrated by a lack of organization when it comes to your product data, you're not alone. Manufacturing companies have been undergoing a significant digital transformation over the last several years. Leading companies have been adopting software solutions that centralize product data and eliminate the headaches associated with manually tracking important product specifications and assets.
Product information management (PIM) solutions exist to centralize complex product data, resulting in fewer errors and greater efficiency for manufacturing teams.
So, what exactly is a PIM platform? What benefits does a PIM bring to the table? How does a PIM work? With a better understanding of what a PIM platform has to offer and an introduction to some of the best PIM tools on the market, you can make an informed decision regarding your own product information management needs.
Specifically, Product Information Management (PIM) refers to the solution a company has in place to store, track, and manage data related to a company's products. This can include such information as:
Product names and descriptions
User manuals and owner's guides
Basically, any content that tells you (or your customers) important data about a product is considered product information—so it's easy to see how an abundance of this data can lead to disorganization when you don't have a dedicated PIM solution in place.
With a PIM solution, you use one centralized platform to store all data and information related to your products. Rather than dealing with hundreds of different files (including spreadsheets and images) across dozens or even hundreds of different locations, all the information is stored and collated in a single place.
For manufacturers dealing with a wide range of products (and even larger amounts of relevant product information), having a PIM solution in place is becoming increasingly important. Specifically, product information management software can solve a lot of the common challenges that businesses dealing with lots of data face.
For starters, a PIM solution helps centralize product information so that it's easily accessible from anywhere and at any time. You’ll no longer need to worry about tracking down a specific product data spreadsheet that's been saved on only one device.
Instead, everything is automatically centralized, product information and files are uploaded to a database that employees can easily access to locate the information they need. The right PIM solution will even allow you to designate user permissions, ensuring that employees have access to the data they need (and nothing they don't).
This, in turn, can increase internal productivity among your teams while reducing internal friction and conflict. Meanwhile, because product information is more readily accessible and the latest versions of files are always accessible, this helps to reduce inaccuracies while increasing your ROI and boosting your company's bottom line.
With so many PIM benefits to consider, it's easy to see why more manufacturing businesses are making the switch from outdated systems to robust and reliable PIM solutions.
PIM software and all of its capabilities may seem too good to be true, but it isn't. The key is choosing the right solution to work with your company's unique needs. To guide you in your decision, it can be helpful to have an understanding of how PIM systems work.
First, understand that no two PIM platforms are exactly alike—so each one will offer some different features and specifications. In general, however, all PIM solutions work by centralizing information about your company's products in one place. Rather than uploading spreadsheets to save on different hard drives and different devices across your company, everything gets uploaded to the same cloud-based system.
Some PIM solutions will also work by automatically pulling in data from your Content Management System (CMS) or Digital Asset Management (DAM) application, which can help you move or migrate your existing files over to your new PIM platform as smoothly and seamlessly as possible (no need for manually moving files).
Product data stored by a PIM solution can include anything from SKUs, product descriptions, and features to related digital assets, such as owner's manuals and spec sheets. Meanwhile, a PIM solution typically allows multiple users to log into the software and update product data in real time, serving as a single source of truth for all product information.
Plytix - A collaboration platform and PIM solution that is ideal for small- to medium-sized businesses dealing with large amounts of data.
Pimcore - Offers traditional PIM solutions as well as DAM and Master Data Management (MDM) solutions, which may be ideal for businesses looking to completely update and overhaul their data management systems.
Salsify - Known for optimizing the efficiency of business processes through streamlined product management, allowing teams from different departments to manage the platform and work at once.
InRiver - A compostable multi-tenant solution that allows companies to manage all of their product data at once.
Lumavate - It is the only product experience management (PXM) platform that includes a PIM, DAM, CMS, and digital experience platform (DXP). This means you can manage all product data and related digital assets in one centralized location, and create digital product experiences (websites, landing pages, web apps etc.) that leverage the stored data and assets.
Acquia - An innovative PIM platform that is designed to ensure consistent product representation through every stage of the customer journey.
Akeneo - Designed for larger teams that need to change out or catalog their existing product information databases.
Each of these solutions offers the ability to centralize the management of your company's product data, as well as some solutions for additional functionality. For many manufacturing businesses and other companies dealing with immense amounts of data, Lumavate is by far the most preferred solution due to its robust functionality as a PIM, DAM solution, and Digital Experience Platform (DXP). Through Lumavate, consumers can access digital experiences created by marketers using the DXP portion of the platform, including product guides that automatically pull data from the PIM and digital assets from the DAM.
Now that you have an idea of some of the PIM software companies and PIM software examples that are out there, consider what your most pressing needs in a PIM solution may be. At Lumavate, our innovative PIM solution is a cost-effective plan for many businesses looking to make the most of their product management. Get in touch with us today to book a demo and see what our solution has to offer your business!