Various types of enterprises have different important criteria to focus on for staying ahead in this competitive business. The product-based industry needs to keep its product data updated as it plays a crucial role in its development, marketing and sales, customer satisfaction, and business growth.
The product information includes all the data related to the product like its description, technical specifications, costing, etc. which can be shared with the various teams within or outside the organization for the development, sales, and marketing of the product.
What is PIM?
The product information management system is a very useful tool that plays a crucial role in the management of all the product-related data for any product-based organization. It is necessary to understand what is product information management used for? Why is it important?
This PIM system enables the organization to collect product-related data from various sources and compile, organize, store, update, and manage the product details across the different channels used for sales and marketing.
The PIM solution allows the organization in handling the product details from different sources in different formats like documents; excel spreadsheets, images, graphics, videos, audio, etc. These details are pulled out from various sources like product sheets, marketing details, Enterprise resource planning systems (ERPs), Product lifecycle management systems (PLMs), etc.
Efficient use of the PIM system enables the organization in enriching the product details which helps the organization in building its brand status.
What Benefits Offered by PIM To An Organization?
Before implementing the PIM system in the organization, the organization must understand why is it important? There are several benefits gained by the organization by using the PIM solution for managing all product-related details.
- Reduced use of spreadsheets: Some may have several products under their brand and managing the information and details for all these products and keeping a track of all these details may become tiresome and difficult. This also increases the chances of incorporating errors while manually handling the vast data. Implementing the PIM solution enables the organization to an automated entry of all the product details based on the various attributes and reduces human error.
- Connect team members: The PIM system allows for sharing the product information with all the team members involved in the organization like the product development, sales, marketing, IT, etc. Each of the teams has access to the data and this helps the teams to stay updated with the real-time product information at various stages of product development till it reaches the end-users. The PIM system also helps the organization with easy sharing of the product details with the different collaborators, investors, partners, etc. with ease.
- Automation: PIM allows automated extraction of the data from various sources and organizing it uniformly based on the different set attributes. This helps in extracting the exact information with the least error.
- Witness the entire product lifecycle: The PIM system helps in collecting and storing all the product-related details from the start to the finished material. It allows the organization to get complete 360-degree information about the product during its entire lifecycle.
Maintaining Thousands Of Technical Data Sheets In Various Languages Using PIM
To stay ahead in the competitive world, the enterprise needs to reach out to the larger crowd to attract potential customers. For this, they need to launch their product and make it available on different channels across the globe to attract the end-users. The different product details required by the different channels include the product description, technical characteristics, specifications, components, materials, costing, and other details in the supply chain.
PIM enables the organization to collect the various product data and update it based on the various attributes that might be different as per the requirement of the different channels. The different international suppliers, collaborators, investors, and customers might have certain specific requirements. The PIM implementation helps in collating all the necessary details and providing all the details as per the international requirements. It also allows for complying with the laws and expectations set by international authorities.
While considering the different channels across the globe, The product information needs to be provided to the end-users in different languages based on the different geographical locations. Manually translating all the product information into the desired languages can be time-consuming and has increased the chances of incorporating errors. PIM system enables translating the product information to different languages with ease and faster to fulfil the language requirements. The PIM system allows for providing the costing details in the local currency units.
Implementing the PIM system helps potential customers across the globe to get all the necessary product information and costing details in their local language thus improving the customer experience. This leads to an increased rate of purchases. As the accurate and best product information is provided to the customers along with the details like images, videos, audio, etc. it enables the customer to connect better with the product thus prompting them to make the purchase. PIM also allows the marketing and the sales team to print the catalogue and the brochure required for the product in various languages for attracting the local crowd.
Proving all the necessary product details like the description, specification, cost, and images in the required and correct language helps in gaining the customer confidence in the brand. It also allows the organization to gain legal compliance.
The PIM system can translate the product information into 28 different languages thus allowing the enterprise to reach the different parts of the globe with ease. This translation is done by automated translation tools thus saving time and the real-time data gets updated frequently.
For any enterprise, it is essential to maintain the best and most accurate product information that reaches the end-users. The customers prefer to check the product specification and description before making their purchase, thus providing accurate details help the customer to gain confidence in the product and make their purchase.
Implementing a PIM solution helps the organization in managing the accurate and real-time product information at a centralized location that can be shared with various end-users like customers, collaborators, partners, etc. for the growth of the business.