PIM systems are crucial to the management of product information within a company, by providing a single source for all your data which can be organised, edited and exported. Whether you’re just starting a business or you’re already the market leader, a Product Information Management system will vastly improve the way your business runs.
Here are five of the biggest benefits of a PIM system:
1. Better organisation of product data
One of the greatest problems for manufacturing and retail companies is the organisation of complex data for thousands of products, which is sometimes required to meet international standards.
A fully integrated PIM system will store all the required information for every product in one place, with a user-friendly category menu and search function to find any data you need. This saves employees thousands of hours rustling through old sheets of paper or scrolling through Excel, when they need some technical specifications.
2. The ability to restrict access to information
In small to medium-sized businesses, access to product data may need to be closely controlled. During development, if the data of certain products is easily accessible, it could find its way into the hands of competitors, who could then beat your company to market.
An effective PIM system allows you to restrict access to product information. You can implement various security features, such as admin only access to ensure that sensitive information isn’t widely available.
Robust permission systems are especially important when it comes to large, multinational businesses with complex product lines. Good PIMs allow you to closely control who in the company has access to the data and when fully integrated, makes organising thousands of products a breeze.
3. Increased customer satisfaction
Research suggests, 80% of customers will stop doing business with a company if the customer experience is poor. I know I’m in that 80%.
There are multiple ways in which a well integrated PIM system improves customer satisfaction, but here I will focus on how it eliminates mistakes. Having one source of truth for all product information means clients will never get out-of-date information about an item, or be waiting a long time for it. Any employee who needs it, has access to product information and can provide it to customers whenever required.
Embarrassing mistakes around product data will be history with a fully integrated Product Information Management system, increasing the likelihood of repeat trade.
4. Compatible with the biggest eCommerce Platforms
With eCommerce businesses, we know having clean, easy-to-navigate, and information-rich product pages across the various marketplaces, vastly improves the customer experience. Having a PIM system allows you to store all that data and simply export it to Amazon, Shopify, SquareSpace and wherever else, meaning you can easily provide all the information a potential buyer might want.
For the purpose of this article, I’ll focus on Amazon. Amazon has strict guidelines on product information:
- You need a product identifier (EAN or UPC).
- Titles can only be a maximum of 200 characters.
- The information must not be time-sensitive.
- Descriptions must be under 2,000 characters.
The list goes on. Quite a long way actually.
Listing a product on Amazon is time-consuming. If your product information is all over the place, the time it takes to add each item grows.
Product titles, descriptions, identifiers and all the information required to add an item onto Amazon, are stored in systems such as OneTimePIM. So the transfer of information from your PIM to Amazon, or any other major eCommerce marketplace, is seamless and far less time-consuming.
More importantly, there’s no need to manually send the information. Exports can be done automatically, at scheduled intervals, leaving you confident in the knowledge that your product information is always correct and up-to-date on every marketplace.
5. Reduces stress for employees
The last reason here isn’t so easy to calculate, but it is perhaps a result of all the points listed above. A stress-free and motivated workforce is absolutely crucial to the success of your business.
Nobody wants to be fishing through ten different spreadsheets to find a product’s unique identifying number, or having to ask the marketing department if they have the most up-to-date product description.
Salespeople want to spend their time selling products. Advertising executives and copywriters want to spend their time being creative. Product developers want to spend their time developing new products.
If you have a complicated and chaotic system for managing product information, it will get in the way of people doing their job. Easy access to information will have a positive effect on employees, as well as the bottom line of a company.
A fully integrated Product Information Management system such as OneTimePIM, will vastly improve the efficiency of your company and increase customer satisfaction. Fill in your details to secure a free guided demo and see exactly how OneTimePIM can help you.