5 Benefits of Product Information Management

Managing product data could be daunting, especially when you have your presence on multiple channels. The task becomes even more challenging when you handle a large inventory, which incorporates an extensive product line and constantly increases its volume with new products flowing in from and going out to various systems every other day, week, or month. It is an absolute hassle, which without efficient PIM data management, is nearly impossible to do.

Being unable to manage this much product information may lead to decreased sales and increased product returns. A report by ‘Statista’ reveals that 27% of shoppers return purchased item when it does not match the product description. A PIM system is a centralized, powerful way to manage this product information efficiently and quickly.

What product information management software does is that it allows eCommerce merchants to organize, centralize, merchandise, list, and edit their product information in a single location. It’s a focused tool to unleash the true potential of product content. Here are five key benefits the PIM software brings to the table. It helps:

1. Streamline the data management process and save time

A PIM system incorporates loads of features and functionalities to streamline the data management process. It centralizes product information into one location. When the user adds new products or updates the existing ones in the catalog, the PIM tool automatically updates it on websites, datasheets, and any other system it integrates. It saves teams a lot of time and effort as they do not need to update each system manually every time products change. With a PIM system at work, organizations can consistently provide up-to-date information to customers.

2. Provide a single dependable source of product information

Another value element that a PIM system brings to the business is it provides a single source of truth for all your product information. Enterprises receive data from various sources and store, host, and manage it in scattered repositories. It leads to inconsistencies and errors in data sets. As a result, customers get incorrect, incomplete, and irrelevant information and leave dissatisfied. A product information management solution comes in handy here in solving these issues. It provides a centralized data repository where users can store, create, manage, edit, and optimize product data efficiently and accurately.

3. Make integration easier

A product information management system provides a holistic approach to integrating with enterprise systems (ERP, CRM, BI, etc.) and third-party applications. The ease of integration allows enterprises to collaboratively collect data from existing sources and enhance & modify data before integrating it into product catalogs. It helps organizations manage master data in a single location instead of moving from channel to channel to create and update product content.

4. Maintain consistency

When customers browse marketplaces or websites for online shopping, their experience should be uniform and consistent. It should be as if they are interacting with the same brand throughout their search and buying journey. Brands mimic the same tone of voice across all sales channels, websites, and social media platforms to do this. Not surprisingly, PIM software is the key to making this happen. PIM data management systems standardize complex information before syndicating it to sales channels and presenting it to customers.

5. Improve customer experience

It improves online product and customer experience, helps buyers make better purchasing decisions, and boosts eCommerce sales and revenue. These many benefits make PIM data management essential for successful eCommerce.