Who Uses a PIM?
by Lumavate | Last Updated: Oct 1, 2023
by Lumavate | Last Updated: Oct 1, 2023
Product Information Management (PIM) is a way to manage information that you need to promote, sell, and service your products. This includes pricing, benefits, descriptions, dimensions, and SKUs. All companies engage in some degree of PIM, whether it’s through specialized PIM software or standard spreadsheets. As customer expectations change and technology advances, it’s becoming more and more necessary for companies to streamline PIM to a single source of information. By using the best PIM software 2023, companies have to deal with the kinds of inconsistencies that lead to customer and employee confusion.
The PIM software available today can centralize product details, so it’s possible for multiple people to both access the profile and change it if need be. This is often more valuable than many decision-makers realize because they don't always see just how many touchpoints there are for the products. When an accountant needs to verify the prices of products, sales teams need to reference the specs, and customers have to confirm whether a product meets compliance standards for their industry, product information management has given companies a simple way to organize information so it’s as easy as a few clicks to get all of your questions answered.
PIM software is available in multiple flavors based on the scope, specialty, and goals of the company purchasing the software. With some solutions, you can configure an infinite number of product categories. If the product details change or you need to add more information, it can be done in real-time by multiple people in the organization.
PIM solutions can also offer Digital Asset Management (DAM) for product profiles, allowing you to include owner manuals, product demo videos, photos, and spec sheets on the page. Most companies have come to find that they need both PIM and DAM functionality. The extra information becomes critical for cementing the difference between products in the minds of both customers and employees.
A PIM solution was developed specifically to address some of the biggest pain points in companies today. Manufacturers across industries have struggled with how to market their products. They may have multiple lines under a single umbrella, categorizing and storing them differently to keep them straight. It’s common for these products to also be promoted differently, which can lead to inconsistencies with the branding and labeling of items. If two products look very similar to one another, customers can easily confuse one for the other, which leads to unnecessary hassle if they’re forced to either return the item or try to adapt it for their own needs.
A PIM solution eliminates the multiple file folders in your network. Leaders no longer have to wonder if product information is being stored on a single hard drive or whether all the product images are included on the shared platform. This is particularly important for companies that are quickly scaling their production. The more work is done on the products across different departments, the more likely it is for the data to become siloed. If one person leaves the company or a team cuts off a project before completion, a PIM solution makes it far less likely for all that work to get lost in the shuffle. The right PIM company will have built a solution that accounts for multiple situations. The best software on the market typically has fewer customizable options because this can often lead to confusion about how to use each one.
Organizations can assign different people to use a PIM, depending on their resources and product catalog. A product information manager is tasked with both gathering and updating all product information, including dimensions, descriptions, benefits, and pricing. They may also need to add all digital assets to the product profile, including installation videos, photos, troubleshooting tips, spec sheets, and owner’s manuals. There may be numerous details and assets assigned to a single product, so the role can be a major undertaking in a large enough company.
A product information manager is often the subject matter expert for all the products in the company portfolio, including any offshoots under the larger brand or collaborations with third-party vendors. This proves to be a major benefit for companies that struggle with communication across departments. A product information manager can set the record straight about how different products work and whether one has changed over time. It can be an immense relief for employees who are used to hearing conflicting information depending on who they ask.
If a company chooses not to hire a dedicated person for this job, they’ll typically assign a team of people from the organization. To streamline the process, companies should choose a small group of detail-oriented people, preferably from different departments. This can not only encourage more cross-collaboration in an organization; it can serve to keep people accountable while still spreading the work out.
If you’re looking for the best example of PIM software 2023, you should know that there are numerous options on the market. PIM companies like Plytix PIM, Pimcore, Acquia PIM, InRiver PIM, and Salsify PIM have all made for a competitive field. It’s worth noting that each of these solutions can centralize your product data, with some offering additional DAM functionality.
Lumavate, one of the leading PIM tools in market, offers both PIM and DAM for companies that can’t afford to mix up product details. Among all the PIM software companies, it’s become the preferred solution for its all-around management. The top PIM software examples will account for all aspects of the product experience. With Lumavate’s Digital Experience Platform (DXP), employees and customers can easily find the supporting documentation they need to answer multiple questions in one place.
Product management often comes down to the logistics of how people use the technology. Whether you store product data on spreadsheets or PIM software, the details need to be easily found and shared with others. If you've found that your product data is either outdated or flat-out incorrect, it will eventually start to reflect in everything from customer loyalty to employee morale. Better technology doesn't have to complicate matters. It can funnel all the information into a single place where there's no guesswork about who updated, why it changed, or what was added to it. With the right team or manager overseeing matters, PIM software companies like Lumavate have seen a turnaround in organizations that otherwise struggled with how to keep all the facts in order.