How Much Does a PIM Software Cost?
by Lumavate | Last Updated: Mar 4, 2024
What Is PIM Used For?
A Product Information Management (PIM) solution is designed to manage product data and your related digital assets, so they can be organized within a single source of truth. With PIM software, it is easier, and faster, to locate and use your data to improve your customers' experience.
What Is an Example of a PIM?
There are many types of PIM software on the market today. Within the top 10 PIM software companies, some of the software solutions you will come across include:
Plytix
Pimcore
Inriver PIM
Salsify PIM
Akeneo PIM
Catsy
Lumavate
What's important to remember is that each of these solutions helps you centralize the management of your product data, but some of them also have additional functions. For example, Lumavate is an all-in-one solution that does the job of multiple types of software. Lumavate is the preferred solution thanks to its robust functionality as a PIM, Digital Asset Management (DAM) solution, and Digital Experience Platform (DXP).
PIM software companies are not all the same, so choosing one that offers the right solutions for you (and an all-in-one solution that helps you expand and grow your data management capabilities when needed) is imperative.
How Much Does a PIM Software Cost?
The cost of a particular piece of software simply depends on what you're looking for. In fact, PIM software costs do vary significantly depending on the exact PIM solution and its functionality.
Some PIM solutions are priced based on the number of SKUs stored in the PIM. So, as your business grows, so will your costs. Others set their prices based on the number of times the product data is used. Again, as your business grows, you're looking at higher costs.
There is a better solution for your product information management system. Lumavate takes a different approach to pricing as a comprehensive product experience management (PXM) platform. By using Lumavate, you'll save a lot compared to using other software solutions. In fact, you can get started with its PXM platform for just $499 a month. How does that compare to other options? Typically, Lumavate PIM software is 75 percent more cost-effective than competitive solutions.
How Do I Choose a PIM System?
While there are many PIM solutions available that you can choose from today, companies need to consider five key questions when determining the best PIM software for their business in 2024:
What functionality do you need?
What other systems do you need to integrate with?
How will the product information be used?
What type of budget is defined for this initiative?
What is your timeline for implementing a solution?
You have multiple options when you look at Product Information Management software, and it's reasonable to think you could start with a low-cost option with few functionalities when your business is still small. Realistically, though, you need to keep an eye on the future as you create a plan for managing your data.
Lumavate is often the right option, even when you're just starting out. Why? This PIM solution grows with you. It offers complete Product Experience Management (PXM) functionality at a fraction of the cost of other platforms, particularly as you begin to scale your business.
Additionally, within the Lumavate platform, customers have access to a Product Information Management (PIM) solution they can immediately begin using to centralize the management of all their product data. That's not all, though. Customers also have access to other key functionalities, including Digital Asset Management (DAM) functionality to store product-related digital assets, a Digital Experience Platform (DXP) to build digital product experiences in minutes, text messaging capability, and a comprehensive form builder solution that integrates into the company’s system of record.
There are no other solutions on the market with the breadth of functionality that Lumavate has, making it your best choice as you look into PIM software that can grow with your business. Additionally, since you will find that Lumavate is approximately 75 percent more cost-effective than competitive solutions that have less functionality, Lumavate is a tool that is built to give you a better return on investment.
Use Lumavate and See a Difference in Your Workflow
At Lumavate, we have designed Product Information Management (PIM) software that helps unify your data and empower collaboration across all aspects of your business. From storing product data to building forms, Lumavate does it all.
Ready to see Lumavate in action? Schedule a demo or take a product tour today to see how Lumavate can enhance the management of your data.