PIM is an acronym for “Product Information Management” and it is software dedicated to companies. It allows companies to create, manage and distribute the content of their product repository to sales channels. The tool allows coordination and distribution of product content to online stores, websites or printed catalogs.
A historical overview of PIM
The conception of Product PIM dates back to the 1990s, when the Internet became popular. Retailers who were communicating via the paper product catalog found themselves in need of spreading their message through modern sales channels. Publishing consistent and coherent information became a key strategy for these companies. The fundamental concept of PIM is to centralize product data and process information in a collaborative manner. The deployment of PIM has become a strategic policy for firms that wish to achieve a fast and efficient ROI. The tool allows to manage product data from the design phase to the end of the product lifecycle. Deliver a quality product experience with contextualized information with Goaland.
PIM, a necessity for companies
Being on all fronts is the challenge for any company that wants to maximize its revenue and market share. To stay competitive, companies need to distribute their data across different types of channels. Distribution must be done at high speed to save time and be efficient. Responsiveness and organization are key to creating a successful PIM. This is even reflected in the definition of PIM. Staff must have access to the right data at the right time. At the risk of not publishing the wrong information, it is no longer a question of searching for product repositories in the company’s departments. The PIM has become a key growth factor for the company. It allows the company to face the tough competition and to give all the cards to its employees. The tool is essential to propose a better product offer.
The challenges of PIM
In the retail world, customer loyalty is just as useful. The addition of new products to the product catalog is a definite objective in the sales field. The multiplication of product data and references is a real current fact for companies. All services and departments within the company must adapt to this context. The benefits of PIM optimize stock rotation. Thanks to the tool, the life cycles of the latter become shorter.