What Are the Largest PIM Companies?
by Lumavate | Last Updated: Mar 18, 2024
What Is the Function of PIM?
PIM stands for Product Information Management. This refers to the management of product information. Product information is all of the information associated with individual products from SKUs to product specs to dimensions. It can also include digital assets associated with product information such as product images, owner's manuals and how-to videos. Product information management allows for all product information to be centralized in a single location. This allows for the information to be effectively managed as well as accessed by multiple authorized users within the organization.
What Is a PIM Tool?
Product Information Management software allows a company to centrally store and manage all types of product data. The following are just a few of the examples of product data that a PIM solution can help store, manage, and access:
Product Descriptions
SKUs
Pricing
Features
Benefits
Dimensions
Functionality
And more
In addition to text information — such as product descriptions — Product Information Management tools can also allow a company to store, organize, and manage associated digital assets. Some examples of digital assets that are critical for a complete product record include:
Product photos
How-to videos
Owner's manuals
Spec sheets
Sell sheets
PIM tools in market that offer management for digital assets are called a PIM solution with built-in Digital Asset Management (DAM) functionality.
An additional major advantage of a PIM solution is that it serves as a single source of truth for all product information because it keeps all of the product information in a single central location, allowing it to be kept fully up-to-date at all times. This also allows for multiple authorized users to log in and access the up-to-date information, as well as to make any necessary changes, all in real-time.
What Is an Example of a PIM?
There are numerous options for PIM software available on today's market.
List of PIM Tools in Market
Plytix: Centralizes and streamlines PIM. Especially valued for collaboration and ability to distribute across sales channels.
Pimcore: One of the largest market shares, this company provides an open-source digital platform.
Salsify PIM: This cloud-based product also has a large market share of PIM software.
Inriver: The distribution system helps companies manage product information both online and offline.
Catsy: This PIM software is popular with e-commerce platforms.
Akeneo PIM: This open-source PIM solution is designed to simplify the processes of catalog management.
Sales Layer PIM: Another cloud-based product that centralizes the product information from multiple sources.
Acquia PIM: Helps businesses to optimize the use of product data across digital platforms.
Lumavate: Provides a comprehensive platorm with numerous functionalities and personalized customer service.
All of these options will give you the ability to centralize your product data, allowing for better management, accessibility, organization and storage. But some of these PIM software companies offer additional functionality. If you're looking for the best PIM, Lumavate is a great solution due to its robust functionality as a PIM. But Lumavate goes beyond just offering a PIM's functionality, because it also has a built-in Digital Asset Management (DAM) solution as well as a Digital Experience Platform (DXP). A DXP can give a company unparalleled access to analytics associated with product information and serve to improve the entire customer experience at every step of the journey.
What Are the Largest PIM Companies?
Choosing the best PIM software for you isn't as simple as looking at a list of the Top 10 PIM software. Nor does it necessarily pay to choose the largest PIM companies. While there are numerous PIM Solutions available in today's market, the size of each company varies a great deal. Companies with the largest market share don't necessarily provide the best solution for a company. For example, while Pimcore and Salsify have extremely large market shares, having all those customers doesn't allow them to move as quickly from a product development perspective as many smaller companies can.
The best PIM software companies are going to be the ones that meet the needs of your specific company. While Lumavate does not have as large a market share as Pimcore or Salsify, it can release new product functionality every two weeks. This is in direct comparison with larger companies which only have releases a few times a year. This can limit a company's ability to have software that gets the job done that the company needs.
Lumavate offers an additional benefit to some of the other larger PIM software companies. Lumavate offers superior customer service. Oftentimes smaller and mid-sized PIM solutions will provide personalized tailored services to each customer, offering a higher level of service.