What Is Salsify Tool?
by Lumavate | Last Updated: Jan 16, 2024
by Lumavate | Last Updated: Jan 16, 2024
Data is worth its weight in gold, and organizing this data is imperative to the growth of your business. Industries such as manufacturing, consumer packaged goods, medical device retailers and distributors, and other companies that manufacture and distribute goods share one issue: coordinating and ensuring a single source of truth for all of its product data.
Product Information Management (PIM) is the key to properly putting together all necessary data into one centralized location so that you can avoid data silos, confusion, and fragmentation. Salsify PIM is one such software we will explore in this comprehensive guide.
In this post, we will explore Salsify software, Salsify PIM features, its pricing, and the competitive landscape so that you can make an informed decision.
PIM stands for Product Information Management, which is a strategy and solution for planning and implementing a systematic approach to manage, enrich, and distribute product information across an organization. Those who do not have dedicated PIM software often use a mix of spreadsheets, private files stored on hard drives, and institutional memory. This approach will not scale to support the needs of a growing operation.
A PIM solution aims to do what Microsoft Excel, Adobe InDesign, and Google Sheets cannot: offer you a comprehensive and efficient solution that fits its purpose and matches your organization's values.
The PIM solution that you choose varies considerably based on the brand that you choose. The data you can store and manage within a PIM encompasses everything you need for a business that makes, distributes, or sells physical goods.
The data you can place within ranges anywhere from product descriptions and SKUs to pricing, features, benefits, dimensions, and functionality. It's a comprehensive library that captures each product's critical details.
PIM tools don't just store text – it's also about integrating your digital assets to match them in creating visually striking digital experiences. If the PIM solution includes Digital Asset Management (DAM) functionality, it combines written details and visuals like product photos, how-to videos, owner's manuals, and spec sheets.
This combination of words and digital assets paints a complete picture of the product. A holistic view of each product makes your business more competitive and ensures your teams have access to all the product details they could ever need.
One beneficial thing about PIM solutions is that they're designed for teamwork. Multiple authorized users can log in simultaneously, allowing everyone to update (or view) product data in real time.
This collaborative feature turns the PIM system into a lively space where different people from different departments can work together to improve and expand the centralized product information bank.
Most importantly, a PIM solution makes the day-to-day more effective because it is the ultimate source of truth for all things related to a product.
Keeping all the information in one central place is great for accuracy and collaboration, where teams can rely on each other's expertise. Manufacturing and design can receive feedback from compliance quickly, and marketing can easily speak to SMEs about what they should be presenting.
Salsify is a unique tool on the market that takes one of the top spots in the competitive landscape. In addition to its PIM, Salsify DAM offers digital asset management, which helps you take control of your digital assets and match them to your tangible ones.
Others, like Lumavate, have a robust product experience management (PXM) platform. A PXM combines the functionalities of a PIM with a DAM and a Digital Experience Platform (DXP). With Lumavate, you can manage your product information and create best-in-class creatives while incorporating them into branded experiences such as brand portals, microsites, apps, and events in your marketing campaigns.
Here is a fully curated list of Salsify competitors that can help you in your research and due diligence when selecting a proper solution for you and your business:
Salsify is a PXM.
It handles PIM and DAM tasks well but may be challenging to integrate into SMB ecosystems.
May be limited in its platform offerings.
It is an enterprise solution that has an open-source community.
Pimcore keeps multiple versions of the same data in a centralized place.
It can be perceived as complex for newer developers and teams that don't have a committed goal.
Akeneo is a product cloud solution tailored for commerce businesses,
It focuses on strong omnichannel delivery.
It lacks customization options and pricing options are unclear.
Plytix boasts a clean layout that is easy to use and user-friendly.
It is backed by a trained customer service team to handle all requests promptly.
Be aware that it integrates slowly, and manual updates are required across your media channels.
Offers flexible option that allows the seamless export and import of tools.
Catsy has great customization and tailored options.
It presents a steep learning curve and complex UX design.
Lumavate integrates PIM, DAM, and DXP functionalities into one platform.
It is 75 percent more cost-effective than any other option on the market.
Lumavate is easy to use and integrates within your ecosystem in a single day.
Lumavate provides exceptional customer service and support via email and live chat.
Lumavate delivers new functionality with bi-weekly releases.
The cost of a PIM varies greatly and is taken on a case-by-case basis. Typically, it can range between $1,000 to north of $250,000 annually based on your needs. Salsify pricing is similar to the industry norm, which prefers to assign account managers to their deals and give you a quote based on your specific needs.
PIM brands generally will price on different things, such as the number of SKUs stored in the PIM, the number of times the product data is used, or even how many users need to access the data at any time. Salsify also does not offer a free trial, meaning you must dedicate yourself to a plan before integrating it within your team.
Lumavate takes a different approach, which it takes great pride in.
Breaking through the industry standard, they completely share their pricing transparency directly on the site, with packages as low as $499 monthly. Lumavate offers a 14-day free trial and allows you to deploy and integrate in less than a day. Typically, Lumavate is 75 percent more cost-effective than other solutions.
PIM tools are worth their weight in gold, but selecting the right one can be extremely tricky. There are many questions that you should discuss with your team, including your needs, your integrations, your timeline, your budget for investment, and so on.
Lumavate is one of the few comprehensive solutions on the market with a fair and transparent price point. Lumavate is your holistic PXM solution, which combines all DAM, PIM, and DXP functionalities. Lumavate is 75 percent more cost-effective, accelerates your go-to-market by 8.5 times, and requires no code or other overly technical resources.
Lumavate can be quickly set up in less than a day and integrates into your workflow and ecosystem. It is a strong contender with text messaging, trend analysis, and over 40 out-of-the-box functionalities.
Try your free demo of Lumavate today and take your first step towards a more unified brand.