Whether it’s prices, components, materials, or suppliers, product information is constantly changing. In a growing business, things can become unwieldy fast, and sharing faulty or outdated information with partners, stakeholders or – perish the thought! – customers can be disastrous. What’s more, consistency is essential to a solid omnichannel strategy. No wonder more and more businesses are looking into product information management to stay organized.
PIM consists of a database with underlying technology that is very similar to that of a DAM system. The product data – marketing and commercial data, including images, video, documents, etc. – is collected, stored and enriched with metadata to make it easily retrievable for users.
As with DAM, PIM allows users to update data efficiently across multiple channels. In this way, it ensures that the whole business ecosystem has consistent and up-to-date information, and minimizes the impact of changes on the sales cycle.
In summary, the advantages of having a PIM system in place are:
A product is not an island
Through information on technical specs, PIM also makes it possible to connect products to related and alternative items, or to accessories. This enables businesses to push these products at exactly the right moment in the buyer’s journey.Recent leaps in artificial intelligence development have added a new dimension to this commercial approach. By feeding a recommendation engine with product and customer data, the former is able to predict what will appeal to a specific website visitor.
From on-premise to SaaS
A PIM system used to operate on-premise, in a data center, and later on as a cloud solution. Today, it mainly exists as (a) software-as-a-service. Businesses aren’t looking for fancy specs anymore, they just want a solution for their needs. This, in fact, also opens up PIM for SMEs, since there’s no big up-front investment necessary. This means small(er) companies have access to the same advanced features multinationals use.
How we can help you
Why choose delaware?
Thanks to the transformation of DAM into a SaaS solution, SMEs can now fully benefit from it
A company that understands its customer insights and activates those insights across the whole organization will succeed in building a sustainable competitive edge