Why Companies need PIM:
Businesses of all sizes are increasingly adopting Product Information Management (PIM) systems, typically, to introduce an efficient solution that allows them to:
- Rapidly introduce products (High speed to market is a competitive advantage)
- Use multiple sales channels and compete in all sectors
- Enable collaboration of internal and external parties to produce rich product content
- Partially outsource product data management retaining in-house quality assurance mechanisms
- Integrate with external product data aggregators like CNET or Icecat
PIM is an instrument to enable efficient product data governance within businesses of high complexity or specific internal policies/legal requirements for product data management and lifecycle.
Check out what a PIM here
Introduction of PIM within the organisation
Generally, it is suggested to take the following considerations into account:
- Staged approach is advised for introduction of formalised product data management and corresponding PIM solutions
- Priorities must be set for every stage
- Priorities are likely to change from stage to stage as PIM is adopted within the organisation
- Change processes must be owned by an influential staff member who possesses enough time and other resources to drive the change. Changes must be supported within the organisation
- Responsibilities and accountabilities must be clearly established
- People should be assigned and trained
Corporate goals and relevant PIM-related ecommerce strategies are in the table below.
Decision on the priorities and strategy for current stage of PIM project implementation
|Major Customer driver or Corporate objective||Common strategy related to product data management|
|Rapid product growth (quantity over quality)||
|Optimise product information management costs||
|Richness and relevance of product information||
|Product structure and relations between the products||
PIM and Product Lifecycle:
Check our recommendations about PIM and product lifecycle within the business here
All above is equally relevant to any mature PIM including products of Informatica, Stibo Systems, Oracle, Akeneo and few others. Due to an inherent flexibility of open source platforms, at Balance Internet we prefer use Akeneo which could be adopted to the needs of almost any business, will continuously evolve with the business and will cost a fraction of any other enterprise PIM.
Should you have any questions on how PIM can bring a competitive advantage to your business, get in touch with Balance Internet, a leading PIM practice in Australia.