As technology takes in toll, more and more businesses are seeking to improve their data management systems. One way to improve the efficiency and accuracy of product data in a business is to have product information management software. This system comes with a host of benefits that can help lead your business to growth and success. This article highlights what a product information management system is, its benefits and how this system works.
What is a PIM System?
A product information management system is a tool that centralizes and manages all the content and data in your product catalogue. This system stores information such as product name, size, weight, certification, stock availability, reviews, and so forth. With this tool, you can create a product catalogue, upload and store your products, then share the information with your team on multiple channels. You can also seamlessly update product data across all your sales and distribution channels. This tool works hand in hand with your e-commerce channels and enables your customers and sales team to access real-time information on a product. The system can also manage data in multiple languages in case your business has global operations. You can use this tool to store technical data like product specifications, usage data like instructions and how-to videos and media files like videos and images. Other details that you can store in this system are:
- SEO data for content marketing
- Marketing documents
- Data for 3rd party e-commerce stores.
Benefits of a Product Information Management Software
Product information management software has an array of benefits for your business. First off, this system enables you to save time because you only need to make an entry or adjustment on one dashboard. The data you input is automatically updated on all your channels. You won’t have to go to your ERP system or e-commerce store to add information and make changes. Secondly, PIMs enable a quick and easy flow of information to all necessary parties in your business. Managers, sales teams, dispatch teams, customers and other data handlers can see real-time information on which products are on offer, which ones are out of stock and so forth. This easy flow of information is beneficial for businesses with global operations because it will help them make internal decisions quickly. The third benefit that PIMs bring to businesses is it improves employee trust and integrity. It also improves data quality by allowing your team to categorize data into fields and labels and eliminate catalogue errors.
Who Uses This System?
Any business can use PIMs to run its operations. Although the businesses that benefit the most are those with multiple selling channels and many employees and departments. The individuals that use this system include:
- Sales and marketing teams when updating sales information
- Business owners and partners when tracking sales and products information
- Warehouse supervisors and managers when updating stock information
- Data handlers when tracking data to make internal reports or meet compliance needs.
- E-commerce managers who rely on the quality of product information on an online store to improve sales.
- Retailers when evaluating sales and stock availability.