Published: Oct 9, 2024 Updated: Oct 17, 2024
While project management is not a new concept, Product Information Management (PIM) is a subset of data management that has emerged recently. Although PIM is highly recommended and helpful in corporate administration, there are widespread misconceptions and myths regarding product information management. Let’s read on and learn about the most common PIM project myths about PIM implementation so we can debunk them.
Product data is essential to all industrial brands. You are handling large catalogs among disjointed systems resulting in ineffective operations and subpar data. If any of these issues seem familiar to you, you might be thinking about streamlining your product content workflow with product information management (PIM) software.
However, you can be preventing yourself from advancing with PIM because of common product information management myths or uncertainties about introducing new technology. You might be concerned that it takes too long, doesn’t offer a good return on investment, or only applies to large businesses.
Despite the obvious advantages, some organizations hesitate while implementing the PIM system because they have misconceptions about its complexity, the resources needed, or its potential applications. To dispel those misunderstandings and demonstrate why PIM is crucial for all brands regardless of size that want to enhance consumer experiences, guarantee data integrity, and optimize operations, read below the most common PIM system myths.
The idea that PIM implementation is solely for large businesses is another common misconception. However, that is untrue. Centralizing their product data can be quite beneficial for small and medium-sized industrial firms and the process also does not take too long.
To begin with, it is typical for companies of all sizes to have product data dispersed through several isolated sources, such as content management systems, spreadsheets, and outdated systems. Workflows become clogged as a result of the fragmentation, which lowers productivity.
PIM creates an organization-controlled repository from all the disparate information. As a result, you now have a single source of truth for all the data provided to the channels.
This is another widespread misunderstanding about PIM. Because they have few SKUs, small firms feel that it is not worth the financial investment to purchase a product information management system. According to our research, businesses with fewer items gain from the time savings in several ways.
Frustration stems from the effort required to prepare product data for several languages and markets, even when data entry at the “master” level may take less time. Comparable companies might have fewer items as compared to large companies but many qualities to fill in for these items, such as a ton of structured marketing descriptions, massive catalogs, and thorough technical specs, among other things.
It’s also quite handy to have all of your data in one place and be able to modify it for multiple channels. If your business chooses to grow in the future and provide more SKUs, maintaining and building a PIM-applicable system and procedure will also make it much easier to expand.
Another widespread misunderstanding regarding product information management systems is this one. All departments handling product data can benefit greatly from PIM software. For example, sales teams now have easier access than ever before to precise and up-to-date data.
This will make it simpler for the marketing and sales staff to change media, features, and descriptions, among other things. Increased productivity is realized across the board, and PIM software genuinely enhances departmental workflow and communication.
A PIM system has the technical expertise to streamline the workflow of every department in an organization to ensure a single source of truth, uniformity, enhanced productivity, and efficient data management.
There is a misperception that complex technical knowledge is necessary for PIM software implementation and management due to increased PIM value and ROI. It makes sense that common user roles, such as catalog managers and content producers, engage with various PIM features to handle pertinent data and workflows.
Nonetheless, rather than focusing on technological complexity, the interfaces are customized for their unique commercial functionalities. Merchandisers, for instance, do not need to deal with taxonomies, attributes, or import jobs; instead, they concentrate on product record data and assets. These users only need to be somewhat technical to utilize most things regularly.
Additionally, brands can easily integrate with the back-ends of platforms such as eCommerce platforms and enterprise resource planning (ERP) solutions. Turnkey pre-built integrations offered by some PIMs minimize the need for a lot of custom coding. This makes connecting important technology stacks for marketing and sales easier.
Additionally, some PIM providers give in-depth training and assistance both during and after onboarding to justify costs. Most after-purchase programs come with interactive courses, knowledge bases, email/chat support, and mentorship as tools for reduced IT costs.
PIM methods seem to be the same as customer-focused commerce solutions for digital assets. Product innovation is dealt with via the PLM process, which can provide PIM with data sources. PIM data sources can be found in master data management (MDM), which houses all business data of managers across multiple domains.
After receiving the data from PIM, PCM can provide websites with more data and more features. PIM is still at the core of the process and can be highly significant in product data management. PIM systems use aggregation techniques to syndicate, manage, and improve the quality of the data. It means that Product Information Management will continue to be reliable and that PLM, PCM, or MDM solutions cannot take its place.
For any business, selecting the right PIM system—open source, SaaS, or another—is an essential strategic choice, given all the common PIM myths circulating. In today’s rapid market, having access to consistent and correct product information is crucial, and PIM makes this feasible. Furthermore, the scalability and flexibility provided by the open-source SaaS model allow companies to tailor the solution to their changing requirements.
Stronger client interactions, increased operational efficiency, and support for business operations can all be achieved by implementing and using a PIM system in the cloud. Purchasing PIM systems is a prudent move with long-term advantages.
A PIM system can offer a business an advantage over rivals in the eCommerce age, where successful product data management is essential. To avail the best PIM system, you can directly contact us at Pimberly for the most reliable services around you.
"With Pimberly we are able to get rich data, right the first time."
JD Sports
A super-quick run through of the key features of Pimberly’s key PIM, DAM and automation functionality.
