What Makes a Good PIM?
by Lumavate | Last Updated: Dec 4, 2023
by Lumavate | Last Updated: Dec 4, 2023
Product Information Management is an important part of running a business and maintaining good data on your products. A PIM allows businesses to not only manage their product information but also to centralize that data, so it's easy to access and update with just a few clicks.
Great PIMs serve as single sources of truth, keeping business product information organized and secure. What makes a good PIM, and what's the best software? Here's what you need to know about Lumavate and the top competitors in the marketplace today.
PIM software is used to centrally store and manage all types of product data. This product data can include:
A key benefit of PIM software is that it allows multiple authorized users to log in at any one time. They can change product data in the centralized database and have it updated in real-time. With this process, the PIM serves as a single source of truth for all products sold by the company, making it much easier for you to stay organized and make sweeping changes to products when necessary.
While there are many PIM solutions available, companies need to consider five key questions when determining the best PIM software for their business:
What functionality do you need?
What other systems do you need to integrate with?
How will the product information be used?
What type of budget is defined for this initiative?
What is your timeline for implementing a solution?
You should look for a PIM system that is flexible and scalable, so it can grow with your business. Additionally, you'll want to choose a solution that has a user-friendly interface, good customization options, and workflow and collaboration tools to let you get more done.
Lumavate is often the best choice for anyone evaluating a new PIM solution because it offers complete Product Experience Management (PXM) functionality. Within the Lumavate Platform, customers have access to:
Product Information Management (PIM) solution to use to centralize the management of product data;
Digital Asset Management (DAM) functionality to store product-related digital assets;
Digital Experience Platform (DXP) to build digital product experiences in minutes;
Comprehensive form builder solution that integrates to the company’s system of record.
There are no other solutions on the market with the breadth of functionality that Lumavate has, and Lumavate is often 75 percent more cost-effective than competitive solutions that have less functionality than Lumavate. As a PIM solution, Lumavate is an excellent choice for those who are looking for an all-in-one solution for all their product management needs while staying within budget.
Today, you have the option to choose from numerous PIM solutions. Product information management examples include:
Sales Layer PIM
Each of the PIM tools in market offers the ability to centralize the management of product data and some solutions offer additional functionality. For example, our PIM solution, Lumavate, has built-in Digital Asset Management (DAM) functionality, which means you'll be able to manage all the basics as well as product photos, spec sheets, and other data about your products.
When you're choosing a PIM, remember to look at what's in your budget, easy to use, and centralized, so you can update information once and be done. PIM software companies are all different, so you'll also want to look into the companies with the best customer service and support to help you get started.
The best software solution for your needs will depend on your goals and the needs of your business. A well-rounded PIM solution is the key to making any PIM software work for you in the long term, which is why Lumavate is a great choice.
Lumavate is the preferred solution given its robust functionality as a PIM, Digital Asset Management (DAM) solution, and Digital Experience Platform (DXP). With Lumavate, you have everything you need centralized in one easy-to-manage location. Just add text, photos, data, and more, and it updates immediately. For an all-around solution that takes a centralized, organized approach, you'll be satisfied with Lumavate.