What Is the PIM System?
by Lumavate | Last Updated: Dec 12, 2023
What Is the PIM System?
Product Information Management, often abbreviated as PIM, is a powerful organizational system for marketers in manufacturing or any industry that manufactures, markets, or sells physical products.
Using a PIM system, all product data is centralized into one platform. Authorized team members in all departments have immediate access to product data that helps inform future campaigns and sales strategies.
Leading PIM solutions, such as Lumavate, allow companies to create custom data fields, ensuring your unique product data is captured correctly. A PIM can store data such as:
Product descriptions
SKUs
Pricing
Features
Benefits
Dimensions
Functionality
Even digital assets that aren't normally accessible with standardized spreadsheets can be added to your PIM system if it includes Digital Asset Management (DAM) functionality. The added functionality allows your team to add supplemental material like product photos, how-to-videos, owner's manuals, and spec sheets.
With a cloud-based PIM, your entire team can access the PIM system at any time. This allows real-time updates to the product data for complete transparency and efficiency. Teams no longer need to waste time cross-referencing data or manually updating spreadsheets.
The beauty of a PIM system lies in its ability to serve as a single source of truth for all product information. It eliminates the chaos of scattered data and brings everything under one roof. This means no more sifting through multiple files or databases to find the information you need. It's all there, neatly organized in your PIM solution.
What Are the Benefits of a PIM System?
Gone are the days of having product files scattered in a loose web of spreadsheets and folders throughout a personal computer and company intranet. This fragmented storage solution is a logistical nightmare and makes it nearly impossible to manage and update all product data effectively. It also creates inconsistencies that negatively affect your brand.
A PIM solution was specifically designed to organize product data into one location for easy access. All team members can sign in from any location at any time to access the data they need. Efficiency increases and team collaboration also improves as marketers, salespeople, and customer service all use the product data to improve processes.
Aligning the entire organization's product data with a PIM system will also improve brand consistency. All team members use the same up-to-date information for marketing or sales, maintaining a clear message throughout all product messaging. Customers benefit from this consistency by knowing exactly what to expect with each product and brand interaction, ultimately leading to more brand loyalty.
Unlike other software that limits the number of users who can access the tool, PIM platforms let any team member log in to access or edit the product data. No more communication breakdowns as admins communicate information to other teams. All data access is streamlined to promote efficient results.
What Are PIM Examples?
The good and bad news for marketers is there are many PIM software companies. While all PIM systems centralize product data, each one includes unique functionality that makes it stand out from the competition.
Here are some PIM tools in market:
Lumavate PIM
Acquia PIM
Akeneo PIM
Salsify PIM
Sales Layer PIM
InRiver PIM
Plytix PIM
Pimcore
Tools will either focus on a specific part of the product development process or offer solutions that address all parts. It's important to compare PIM companies' different plans and determine the best fit for your team's needs. Some PIM systems offer basic, entry-level plans while others include more advanced features such as AI technology, integration with other platforms, and customization options.
Choosing one of the product information system examples will first require looking at your team's goals. You need to make sure the system's functionality can handle the unique features of the products you sell. It should also integrate with other software your team uses for optimal efficiency.
What Is the Best PIM Software?
While all PIM systems help organize product data, none provide a comprehensive solution like Lumavate. It's not just a Product Information Management (PIM) system; it's a robust suite of tools that includes Digital Asset Management (DAM) and a Digital Experience Platform (DXP).
The PIM functionality within Lumavate's PXM Platform serves as a centralized hub for all product data. It's here that you can manage and control the quality of your product information, ensuring accuracy and uniformity across all channels.
The integrated DAM solution handles related digital assets such as product photos, videos, and owner's manuals. Your product hub becomes a place where designers, copywriters, salespeople, and other team members have access to improve operations.
Lumavate's DXP allows you to create engaging digital experiences for consumers like product catalogs, sales resources, and your website. Templates are provided to shorten the time to creation and full customization allows brand consistency.
Marketers in manufacturing need the best PIM software 2023, Lumavate, to streamline processes, ensure brand consistency, and deliver superior digital experiences.