”74% of researched organizations require “some or significant effort to manage their product information” (Ventana Research, 2019)
74% of researched organizations require “some or significant effort to manage their product information” (Ventana Research, 2019)
First off, in today’s ever-increasing amounts of products, a plethora of product information needs to be managed, and might be necessary for you to share with customers or partners. It could be required by law, or regulations- or simply be part of your customer-friendly service. A PIM allows you to gather, and present all the information you want; and specify it to tailor-fit your audience and platform.
Access to information also touches on the second benefit: operating a PIM suits the curious customer better than ever. Consumers today conduct more research of their own before purchasing, and are more tempted to buy from sellers that handily offer comprehensive online product display. A perfect PIM not only enhances your business back-end experience, but also the front-end experience of your customers.
Third, in dealing with the expanding product complexity, a PIM manages and stores data, and is able connect with other vendors to transfer information between systems. This means that, if you switch to a PIM, you will be able to combine product information from different systems.
Fourth, this allows you better accessibility to global digital markets spaces. A must-have feature in today’s interconnected age! No longer will inadequate matching systems be a hassle and cause delays; with a proper PIM, you will increase the speed of your product transfers and supply-chain. This aligning property of a PIM, touches on the fifth benefit: it reduces the transmission of faulty data, which could be a hazard for maintaining healthy business relationships. By being in ‘data-harmony’ with your suppliers and buyers, you make sure everybody receives the correct product-information, in a perfect format. Pimvendors are able to help you pick and choose the best PIM for you, to ensure that there is only ‘one version of the truth.’
Finally, as mentioned above, a proper PIM constitutes a centralized product system, which also has the capability to allow different systems to communicate and align with each other. This allows you to strategically expand your operations without hiring more system operators, as PIM-systems allow for scale-benefits to be incorporated more easily.
In short, switching to a PIM-system:
1. Allows you to gather, and present all the information you want; and specify it to tailor-fit your audience and platform.
2. Suits the curious customer better than ever.
3. Manages and stores data, and is able connect with other vendors to transfer information between systems.
4. Allows you to better access global digital market spaces, a must have!
5. Significantly reduces the transmission of faulty data.
6. Allows for the incorporation of scale-benefits in your business operations.