PIM and digital transformation go hand-in-hand and, if you haven’t already got a PIM (product information management) platform in place, well, it’s a love story waiting to happen. IDC predicts that, by 2024, 50% of IT spend will relate to digital transformation. IT departments and senior management need to drill down on where this spend will be allocated, and why. If digital transformation is a priority for you, a PIM should be as well!
One of the main aims of digital transformation is to promote working in a more joined-up way. This isn’t just in terms of the technology you use, but also in terms of being able to collaborate across departments. A PIM helps with both these factors. This ultimately enables IT departments and Senior Management to focus their efforts elsewhere.
Bringing systems together
A sticking point for IT departments when it comes to digital transformation is how legacy systems can be integrated with new ones. For instance, an ERP will have a pre-defined way of managing and organizing product data. An ERP is more transactional and will focus solely on getting stock in and out. There are no capabilities in terms of product data enrichment.
With businesses dealing with an increasing amount of complex data on a regular basis, IT departments should consider how to smoothly connect disparate systems so they work in harmony.
PIM: the smooth operator
A PIM enables data from any given source to be collected, enriched, and distributed across all channels. The PIM aggregates your data so that datasets can then be created easily, quickly, and efficiently.
This drives efficiency thanks to the automation of the data collection, management, and distribution. It also means there will be less human error and greater consistency. Data sets can be pre-determined within a PIM, so IT departments save a load of time by not having to do this manually for each individual product.
Scalability & localization
IT infrastructure is the backbone of any business. Consequently, it’s the backbone of any digital transformation strategy. As consumer behavior changes and demand grows, businesses need to respond to these changes. It’s vital to ensure there are systems in place that will enable businesses to stay ahead of the competition, all whilst ensuring connectivity isn’t affected.
Speaking the language of love (for international expansion):
PIM has the ability to store, manage and distribute large amounts of data in one, unified way. It’s also really scalable and you can adapt it over time to respond to a change in needs. PIM is agile and limitless which means expanding product ranges, selling into new channels or new markets is a total breeze.
The appetite to set up an overseas presence has always been predominant in business. PIM has the capability to bulk upload product information in various different languages. In other words, this means you can automatically distribute everything to the specified channels. As a result, you can speed time to market and make huge time savings by not having to individually update product ranges.
The cloud of advantages
2020 has seen us completely change the way we work. The importance of being able to access everything you need, at any time and from anywhere has never been more apparent. When thinking about your PIM, there are several avenues to explore, such as on–premise, open–source or cloud-based platforms. Each have their advantages, but the size of the IT department and the resources available should be considered. On-premise and open source will require a lot of staffing when it comes to the implementation, integration, and upkeep. Not to mention the need to train users once the platform is live.
Your IT department will be on cloud nine:
Unlike on-premise, a cloud-based PIM can be accessed anywhere there’s an internet connection. The cost-efficiency a SaaS solution offers is also a huge factor. With on-premise and open source, IT departments will often have to dedicate a lot of resources to keep the PIM running. Cloud PIM is a ready-to-use platform. This means deployment will be a lot swifter and can easily be adapted to different business requirements.
Pimberly offers continued support once the platform is live, so it’s a lot less onerous for the IT department. The platform is hosted on AWS (Amazon Web Services), so it’s scalable, reliable, and secure. It won’t age like servers and hardware.
The people factor
Overall, technology has proved to be crucial in terms of bringing people together, especially this year. If businesses weren’t already thinking seriously about their digital transformation strategy in 2020, they may well be now.
IT departments and senior management alike have harnessed the power of technology to facilitate remote working. Ensuring employees could collaborate and work efficiently was key. When it comes to PIM, many departments often have to work in tandem. Having streamlined processes in place will mean you can avoid data duplications.
Your team will fall head-over-heels with PIM:
Access control within the PIM means that team members access only what they need to, so all departments can work in harmony and can remain focused. Because each employee will be focusing on their specific area of expertise, the quality of product data will be much improved.
The overall effect of having a more efficient and streamlined way of working will help to eliminate the risk of work being duplicated. This will go a long way in improving employee morale, which in turn will boost overall productivity.
If digital transformation is a priority for you, a PIM should be as well. Disparate systems can be brought together, departments can work in harmony to achieve the best results. It provides a truly streamlined and efficient way of working. Having all these cogs running in the background will result in an amazing online experience for customers by giving them the highest quality of product data.
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