How Does Product Information Management Work?

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by Lumavate | Last Updated: Nov 13, 2023

Products have become increasingly complex and can include almost limitless features. Technology requires a deeper and more thorough explanation. Many product features are unseen, uses have increased, and sizes and options are abundant.

In addition to more product data and details, there are more ways of describing these features and demonstrating those features and benefits. Beyond a simple printed manual, parts list, or instructions, details may include images, videos, audio, and even virtual reality.

All of these features and ways to demonstrate them have made Product Information Management (PIM) a key component of modern companies.

If you are exploring a PIM and how it can make your organization more effective and efficient, the following should be of value.

What Is Product Information Management?

PIM is the process of how a company gathers, organizes, manages, and makes available data about the products it produces, markets, and sells.

While some may view a spreadsheet as a solution, product complexities and the number of hands in the mix can spoil the data.

To provide the best product experience, your product information must be impeccable. This is best accomplished through a robust product information management software system.

With product information centralized, it makes the data easy to update, edit, and manage. When an adjustment or change is made to a product, updating its details becomes easier. Product Information Management goes far beyond SKUs, colors, and features. It can include any data that helps market, sell, or service products, building confidence in your brand.

Product Information Management software solutions makes it easy to collect detailed data, update that information in real-time, and share that data to stakeholders.

How Does Product Information Management Work?

Product Information Management typically starts with an individual or group of individuals who are responsible for adding, deleting, editing, and otherwise managing the significant amount of data associated with most manufactured products. In the past, this process has been cumbersome and resulted in inaccurate product data. In addition, more digital assets are available now that can be critical as part of the product information database.

Product information management software streamlines this detailed process, making product details easy to update and access. A product information website can even contain images, videos, product demonstrations, and more.

The question isn’t if a PIM solution may be of value to you, but which software platform is most valuable for your specific products? No two PIM systems are precisely the same.

Generally, they all work to centralize data under one system rather than across multiple devices.

What Is an Example of a PIM?

There are several PIM solutions available. The goal, of course, is selecting the one that is best suited for your products and your organization.

PIM tools in market and PIM software examples include Plytix PIM, Pimcore PIM, Salsify PIM, Inriver PIM, Catsy PIM, Acquia PIM, Lumavate, and more. Each of these solutions offers the ability to centralize the management of product data, and some solutions offer additional functionality. 

Lumavate, however, is the preferred solution given its robust functionality as a Product Experience Management (PXM) platform. Lumavate’s platform includes a PIM, a powerful Digital Experience Platform (DXP), and Digital Asset Management (DAM) capabilities. This means Lumavate enables manufacturers to store product data, including digital assets, such as images, forms, and documents. The Lumavate DXP allows digital experiences to be seamlessly built using the stored product data and digital assets. With Lumavate manufacturers can spin up product websiteslanding pages, or digital campaigns in minutes. While there is a choice of PIM software companies, if you are in search of the preferred solution, Lumavate is the best PIM software 2023.

What Does a Product Information Manager Do?

Product Information Manager is responsible for overseeing and managing the information related to a company's products. Their primary focus is on organizing, optimizing, and distributing accurate and up-to-date product information across various channels.

They ensure consistency across channels, enhance data quality, collaborate with vendors, and manage taxonomies. Their role is vital in providing customers with reliable, standardized product information, contributing to a seamless and trustworthy customer experience.
Lumavate is a convenient, easy-to-use software solution for centralizing all of your product data and digital assets. It enhances an organization's capabilities to market, sell, and service its products, increasing competence and confidence.

It is time to eliminate the old, cumbersome spreadsheets and move ahead with Lumavate. Reach out for your product demo today.

See Lumavate in Action

Meet with one of our experts to see how easy it is to centralize your product data, manage digital assets, and create digital product experiences. Trust us…you’re going to be wowed.