What Is a Product Information Management System?
by Lumavate | Last Updated: Oct 22, 2023
by Lumavate | Last Updated: Oct 22, 2023
“Information is power.” That statement has never rang truer than now. Our world is one of information, and our decisions are motivated by the information we possess. Here we examine how manufacturers can take advantage of this to improve their product experience and patronage.
Every product has a lot of relevant information to it, like what type of product it is, its functions, its manufacturer, user instructions, and more. Examples of product information include product description, pricing, stock-keeping units (SKUs), features, technical specifications, warranty information, and user guides.
Product information is highly valuable. This is because of the multiple roles it plays in the areas of manufacturing, marketing, sales, and customer service. Product data is, first and foremost, informative; it gives the customer information about the product. The information concerning this product can also be presented in a compelling fashion that would attract customers and promote sales. The knowledge and accessibility of information regarding a product are also significant factors in determining customer satisfaction and, consequently, brand loyalty. As such, great emphasis must be placed on product information management.
Product Information Management (PIM) refers to the strategy of organizing product data in such a way that every component of the data (as well as the process of gathering it) is streamlined. Product data is broad and multifaceted. Keeping track of all the components of product data is a very challenging but critical activity, as it can determine both the organization and the presentation of product information. A product information management (PIM) system utilizes specific software to integrate and organize every aspect of product information into one central location.
The use of a PIM system serves multiple functions. The first purpose of a PIM system is to serve as a central location for the storage and management of product information. As previously mentioned, product data contains a large cluster of elements. A PIM system can gather all this information, organize it, and store it in one location. This guarantees the integrity and safety of the manufacturer’s product information.
The purpose of a PIM system goes beyond just being a storehouse for product information. A PIM system is also able to functionally integrate every aspect of product data. The elements of product data are not only numerous; they are also distinctively different. While some aspects of product data are textual, others are graphical. Not only that, several of them are passing out fundamentally different messages. A robust PIM solution usually possesses Digital Asset Management (DAM) functionality and can integrate every component of product data. This results in the presentation of well-synchronized product information.
Another purpose of the PIM system is to promote collaboration. The various elements of product information, such as pricing, product description, usage guidelines, SKUs and the like, contain different data and may not even be made by the same people. Managing these various personnel and data elements can be stressful and chaotic. PIM solutions make it possible for the various people working on the product information to work on the system simultaneously from different places.
As you have now realized, the applications of a PIM solution are widespread, and its importance cannot be overemphasized. As a result, it has become a thing of necessity for every conscientious manufacturer to utilize PIM software for their product information needs.
The benefits of using PIM software for manufacturers are enormous. For instance, PIM software enables manufacturers to centralize their data. Before the introduction of product information management software, most manufacturers stored their data in spreadsheets, hard drives, or different folders on the company’s network. This made product data disorganized and incoherent. The use of PIM software offers a solution to this challenge — but that’s not all. As mentioned, PIM software allows multiple users to operate the system simultaneously, enabling several PIM processes to co-occur. This synergistic approach promotes collaboration and helps the manufacturer save time and operational costs.
A PIM system also helps the manufacturer establish brand consistency. Brand consistency refers to the uniformity of a brand’s message across several platforms. Brand consistency occurs when all the information about a brand’s product is the same on every platform. This means that even things such as the logo, typography, voice tone, and many more are the same. Brand consistency is made possible by the PIM software’s ability to centralize product data. When a manufacturer utilizes PIM software to develop brand consistency, it leads to greater recognition and trust from customers and the general public.
PIM software is of great importance to manufacturers. As a result, several PIM applications have been developed by PIM software companies to meet that need. Examples of PIM applications include Plytix PIM, Pimcore, Salsify PIM, Inriver, Acquia PIM, Catsy, and Lumavate. These applications are efficient tools for centralizing product data and maintaining brand consistency. Some of them also have additional features that improve the functionality and value of the PIM system. Due to the immense benefits that these PIM tools offer, more companies are adopting them and integrating them into their manufacturing operations.
Among the PIM tools in market today, Lumavate stands out as the best PIM software 2023. While Lumavate is excellent at managing product information, that’s not all it offers. Among PIM software examples, Lumavate is unrivaled in the additional features it offers the manufacturer. In addition to its PIM system, Lumavate offers a digital assets management (DAM) solution. DAM refers to the management of a company’s digital components. These digital assets include images, videos, audio files, documents, and design files. Through the DAM system, companies can store, analyze, modify, and distribute their digital materials efficiently.
Lumavate is also a Digital Experience Platform (DXP). The DXP is a solution that helps companies seamlessly craft and optimize memorable and intriguing customer experiences. It utilizes content management, data analysis, customization, and several other tools to help companies provide a smooth and engaging customer experience across multiple platforms.
The possession of all these features makes Lumavate a well-rounded, multipurpose application. With Lumavate, every aspect of the development of the product is catered for, from manufacturing up to — and even beyond — the point of sale. This high level of functionality puts Lumavate in a class of its own and makes it a must-have for every manufacturer.
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