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Why Your Business Needs a Product Information Management System (PIM)

In Business
April 21, 2022
Product Information Management System

The right Product Information Management System, or PIM, is critical for saving time as the catalog of items you provide grows. The right PIM gives you the freedom to focus on other areas of your business. Below, we’ll discuss what PIMs are, why you should use a PIM, and why your business needs a PIM.

What Is A PIM?

This stands for Product Information Management, and it is a system tool for you to manage and store all of your business’ product information on a single dashboard. A PIM makes it easy to distribute, edit, and upload data to your e-commerce website, Shopify, and other places like Google Shopping, Amazon, eBay, etc.

Why Your Business Needs A Product Information Management System (PIM)

Technology and digital transformation moves, innovates, and changes at a breakneck pace. A PIM streamlines everything, which dramatically impacts your efficiency and the speed your products become available wherever they’re available. Without a PIM, you spend far too much time going from channel to channel and websites updating data, risking the chance of forgetting to update something somewhere.

What Information Does A PIM Store?

A PIM stores information such as product names, product descriptions, the pricing information on products, product specifications, mobile copy for that same information, multi-language content, store specific information such as product catalogs, POS registers, or even supplier information. A PIM also stores videos and images of the product to tell consumers what it looks like and how it’s used.

A PIM stores information about the product on the consumer end, such as the product’s dimensions, material, color, weight, and warranty information. The PIM also stores consumer reviews, allowing potential customers to understand better which products they want.

Why Should You Use A PIM?

A PIM system allows you to assemble product data wherever they are accurate. It also allows you to track how people interact with the product data, which improves personalization and conversion rates. For example, a PIM helps modify new product data across multiple channels as soon as it arrives in the system. Since the PIM stores the information, when you enter a market in another country, the product information is ready to go, and there are translation agencies that automatically translate the information about the product.

How Does A PIM Work?

Once you set up a PIM and integrate the data, the PIM processes the data undergoes a process where it’s compared to other electronic records based on the characteristics and content of the data. It then removes duplicate records of the data set, so there is only one electronic record. This eliminates the need to comb through the data to enter, update, or delete the data manually, saving you time and reducing the possibility of errors.

When you own a restaurant, updating your menus manually takes a lot of work. However, with menu templates, it’s easy to change colors, adjust prices, add or subtract menu items, and change the overall look of the menu. A PIM saves this information and updates it when you decide to change your menu with these menu templates. In addition, you can check out more restaurant management resources on Lightspeed.