What Is a PIM Software Category?
by Lumavate | Last Updated: Jan 17, 2024
by Lumavate | Last Updated: Jan 17, 2024
Managing product data is one of the most significant challenges for businesses that seek to be competitive within the manufacturing, CPG, and medical device industries. Combining everything into a single place can be difficult, especially when each team needs information that varies greatly from the other one. Marketing teams must coordinate with design, manufacturing, compliance, and other departments to truly understand what they are working with.
Product Information Management (PIM) software and its associated product information management tools remain the best way to manage data. PIM solutions compile product data into a centralized source of truth so that employees across an organization can reference up-to-date product information.
Join us as we explore the best PIM tools in market, PIM software examples, and the best PIM software companies as we answer critical questions about what PIM is and the wonders it can do for your business.
Product information management is a comprehensive methodology containing the overall strategy for managing your product data. A PIM solution is a tool that helps to coordinate these efforts and centralize product data.
More specifically, the best PIM platforms are used to manage, create, and organize product data along with related digital assets, allowing your organization to have a single source of truth.
A PIM system is a system facilitating centralized management and dissemination of detailed product information across various channels. The PIM system meaning focuses on streamlining processes related to product data, ensuring consistency and accuracy.
PIM solutions enable businesses to efficiently organize, update, and distribute essential product details, enhancing the overall quality of product information in e-commerce and other industries.
Not all PIM software is created equal, but the category encompasses all PIM solutions. Some are targeted towards enterprise-level giants, while others are for niche players. Other solutions, such as Lumavate, combine the best of PIM into a comprehensive Product Experience Management (PXM) platform that allows marketers within your brand to combine the benefits of PIM with Digital Asset Management (DAM) and Digital Experience Platform (DXP) functionality.
The core functions of a PIM all aim to do the same thing: organize your data effectively. The entire PIM category is focused on centrally storing and managing all sorts of data.
PIM software management examples include product descriptions, SKUs on offer, spec sheets, owner's manuals, labeling details, product photos, features, and pricing information. This list is not exhaustive; they are merely examples to illustrate the endless possibilities you can achieve with a centralized PIM solution.
Every company within the manufacturing industry that sells a physical product needs a PIM solution to scale beyond its current production capacity comfortably and profitably. Through careful and curated access, PIM solutions benefit your retailers, distributors, and any other channel partner that sells products.
With the PIM market size expected to grow from $12.2 billion in 2022 to $23.8 billion in 2027, A proper PIM solution is the way forward.
There are many different solutions within the PIM category, as with any other competitive landscape. The question becomes, "How can I tell which ones are worth it?"
To compile your research into a curated list, below are some of the best PIM tools on the market.
Acquia is positioned for specific PIM functionalities that require niche players.
Its compatibility is case-by-case and considered diverse for meeting unique needs.
Akeneo focuses on its well-known ability to simplify product information management.
It streamlines data processes, which contribute to a smoother environment.
Offers a robust platform for efficient product information management.
Salsify offers workflows to reduce manual tasks.
PIMworks has unique features that help you create more accurate product catalogs.
The UI is basic but user-friendly, which is great for newer players.
Pimcore is known for its scalability and flexibility with custom requirements.
A complex back-end can deter newer developers, but the platform has more mastery than others.
Plytix PIM is for dynamic and efficient product information management.
The native solution is at a lower price point and easy to understand but can lack some integration possibilities.
Lumavate is a comprehensive platform encompassing PIM, DAM, and DXP functionalities.
A top 10 PIM software that is Ideal for businesses seeking an all-in-one solution for product information management, digital asset organization, and creating engaging digital experiences.
Updated bi-weekly with new functionalities and fixes
PIM software primarily benefits companies that manufacture or sell tangible goods that seek to expand their capabilities and gain a competitive edge. A PIM tool allows product data management across its business, which helps ensure everyone is always on the same page.
For example, if you are a manufacturer that produces lawn equipment and sells it to retailers and some other distribution channels, a comprehensive solution that a PIM can offer is palpable. Manufacturing and design teams can agree regarding products being developed, used, marketed, or sold.
Going beyond a PIM solution into a comprehensive platform takes this to the next level. Building upon the earlier example, Lumavate's solution also incorporates DAM and DXP functionalities. You can match your physical catalog of lawn equipment goods with a digital catalog that contains high-quality photos and instructional videos with your DAM system.
The DXP functionality combines these creatives to make a genuinely profound digital experience for your customers. Through microsites, app experiences, SMS texting integration, and other features, you will be able to build genuine foundational trust and relationships with your customers.
Although a PIM is the responsibility of all those who access it, the marketing team will usually act as platform custodians. A standard title is Digital Asset Manager, which will deal with the creatives and experiences found inside your solution.
Since the marketing team does not necessarily have subject-matter experts within their department, it is best to hire and train a manager with excellent product management, project management, and communication skills to align all interests of each department and division within the organization.
PIM software is a unique and respected solution within every organization that manages and distributes tangible goods. By centralizing your product information and other data, you can be sure that your brand is constantly on the same page and accessing the most recent version of the information - which eliminates fragmented data silos and saves to a localized drive.
Lumavate combines the benefits of a PIM, DAM, and DXP into a PXM solution to provide best-in-class service to all organizations looking to streamline their current operations and take things to the next level. With unparalleled analytical capabilities, over 40 out-of-the-box functionalities, and timely deployment, Lumavate is your all-in-one holistic solution.
Demo Lumavate for free today to take your first step towards the future of your brand positioning.