Pim System is the newest technology in the eCommerce industry. As there are hundreds of companies evolving and the customers’ expectations are drastically increasing, PIM software provides organizations with a bundle of benefits and opportunities to expand their business and make more profits.
In the most advanced era of digitalization, PIM enables your organization to collect the data regarding the listed products, the market analysis, your achievements versus customers’ expectations, and the rate of your success.
PIM System & Its Importance
PIM is the software that is used to manage the information, essential in digital marketing. Digital marketing is a challenging business as the channels involved in buying, marketing, and selling the products are vast.
From the procurement to the delivery of the goods, every step is crucial in the e-commerce business. PIM system is meant to ease every step through streamlining these channels and delivering what the customers are expecting.
PIM software is mostly used in the firms that carry out Business to consumers and Business to business (easily understood as wholesale to the retailer, or raw material sales) through diverse channels. If you are an organization that sells a wide range of products in several departments, PIM gives your business a cakewalk.
Why is the PIM System important?
PIM runs alongside your business database and ensures the break-free flow of the supply of products to consumers.
- Helps in the connection with the manufacturing channels
- Keeps track of the quantity of the products listed and sold while maintaining the quality.
- It acts as a bridge between the database and the inventory control systems.
- It helps in a better administration of your business at various locations.
- Connects your e-commerce website with the procurement channels of specific locations for inventory and reduces the challenges faced due to scattered fulfilment centres.
- Manages the product catalogues with better accuracy and minimizes human errors.
- Since PIM is advanced software, it ensures safe data exchange between your database and partner websites.
- Any e-commerce industry faces the risk of the return date. However, PIM helps you to serve your customers better by delivering what your customers exactly want.
- PIM software lets you give utmost importance to the product data that is listed on your website.
Benefits of PIM:
The benefits of Product Information Management are attributed to different cycles of your business. It has its applications in every stage of your e-commerce business.
1. Catalogue designing and Product listing:
If you are that organization, distributing a wide range of products, the accuracy of the catalogue and product description is the foremost essential stage of your business. PIM enables you to distinguish the products on various bases and distribute them according to the customer’s search results. This reduces the risk of incorrect information about the product.
2. Connection with the manufacturers and procurement centres:
PIM aids in connecting the orders with the concerned manufacturing units or the procurement channels to optimize the delivery time and cost involved in delivering the product to the consumer.
3. Cost-effective and time saving:
The practice of PIM in your organization reduces the cost involved in inventory management and saves the costs incurred due to lethargic procurement methods.
4. Product quality:
PIM ensures that the product quality is maintained diligently, by choosing the right inventory and quality delivery to your consumers.
5. Increases the transparency and pace of marketing:
Since all the channels of your business are connected through PIM, the transparency of all the events is consistently maintained and enhances the pace of marketing for your business.
6. Elevates the customer happiness:
When the process of delivering the product to the customer is improved dramatically, in terms of quality and speed, the delighted customer is sure to drive more potential customers to your business.
7. Maintain standards:
PIM is a renowned software across the world. Incorporating this into your business gives international standards to the operations of your business.
8. Helps in tracking your success rate:
PIM is the most advanced software that concurrently maintains the record of your business’s performance and helps your experts to build strategies in making your business better.
Challenges of PIM Solution
Despite being the most successful organization, your business may face certain functional challenges that call for the need for PIM.
1. Information gaps:
With the rapid increase in the number of customers who have access to digital marketing, the need for being innovative and updated is also increasing. With the change in trends of the customer’s needs and interests, it can be difficult to update the product information and manage updated catalogues.
PIM software handles this challenge efficiently by continuously updating the product listing on your business websites and e-commerce websites.
2. Connection with partners:
As your business gets broader, your connections get complex. When your business has its presence in various locations, you will need to connect with the manufacturers and suppliers of those locations.
The PIM software aggregates the connections based on locations and products to ease your communications with them.
3. Product data:
It is a tougher job to manage the product data when the business grows rapidly and over various departments.
PIM handles the data efficiently and makes it readily available for immediate use.
4. Streamlining of product catalogue while maintaining the quality:
As the range of products increases, maintaining the accuracy of the catalogue becomes a hurdle.
However, with PIM, it is not tough anymore. Pimcore Implementation enables you to streamline the product catalogue and maintain accuracy and meet customers’ expectations.
5. Eliminating manual errors:
In the course of maintaining records, a certain extent of manual intervention is required. This may cause errors, resulting in incorrect data analysis.
PIM Solution simply eliminates the risk of data errors with its high accuracy.
6. Digital interface:
Listing the products involves certain images, videos, and external links. Any error while handling this digital information can alarm the customer experience.
PIM handles the digital information diligently to avoid any improper handloom of the data.
7. Eliminating delays:
As your business expands, your procurement and delivery parameters also need a lift.
PIM takes your business delivery to a next level by connecting the various channels to ensure the faster delivery of products to your customers.
8. Monitoring your performance
A constant analysis is required for any business to come up with successful strategies.
PIM helps in continuous monitoring of the results and helps you by indicating the areas of success and the areas of improvement. It generates reports to statistically depict your company’s performance.
9. Generate and publish reports
In this digital age of marketing and communication, highlighting one’s performance is the need of the hour.
PIM generates reports that show you where you stand in the world of competitors.
When does your business need A PIM Solution?
- PIM will be effective, if you are dealing with enormous products that belong to various departments. Handling a wide range of products across departments is a challenging task. It requires computer programming that eases the maintenance of a wide range of products, efficiently with assured quality.
- You need PIM services, if you are selling or marketing products that are dynamic in their features. The demand for a variation in products is increasing with the increase in the number of customers. The same product has variations on different features. PIM helps to manage the catalogue diligently to display what the customer is trying to find on your website.
- If you have had a history of changing the IT infrastructure that is required to keep a track of your business, then utilizing a PIM solution would be the best and wise option. Since the beginning of the digital marketing boom,
- PIM solution is necessary for Software and IT infrastructure systems have shown up to serve the businesses. While most of them are successful in meeting the demands of organizations, there are still some limitations to those. PIM is the most advanced software that is globally used, and is known for its multiple benefits.
- PIM would be inevitable if you procure your goods from several sources: As the geographical presence of your business expands, the need for connection with procurement channels and fulfilment centres also increases. PIM helps you to connect with those channels with ease and accuracy. This dramatically reduces the time consumed in communicating and delivering the product to customers.
- If your business deals with a business-to-business type of e-commerce service, then a PIM solution would be handy. When your business is growing, there will be a development in the way you operate. Dealing business to customers is contrary to dealing Business to business. This requires the management and administration of orders with higher priority and attention. PIM enables you to manage the business to business accounts productively with flawless outputs
- If your business operation is located in several locations and would like to expand globally, then using a PIM solution is mandatory. The growth of any business is unlimited. PIM helps your business to launch and grow across the world. This maintains an enormous amount of data and tracks your performance throughout the world.
Conclusion
PIM is software that is used for end-to-end operations of your business digitally. It maintains the accuracy of product listing and distribution. Also, it handles foolproof procurement and distribution of products and reduces the time consumed in delivering the product through different channels. More importantly, it effectively eliminates errors caused during the business transmissions. Having such awesome software for your business would really boost your business sales.