Improve Multi-channel, Multi-storefront Results With PIM
Five Critical Ways PIM Software Will Improve Your Bottom Line
In today’s global marketplace, most businesses operate in a multi-channel environment. Whether you are a distributor, manufacturer or retailer with a multi-storefront operation, you’re faced with the challenge of being able to keep an accurate product catalog that can be maintained easily, accurately and consistently across all channels. The implementation of a PIM, or Product Information Management system, can deliver all of this and impact your bottom line in five critical ways.
When your product data is stored in multiple places, every update or addition must also be applied in every location. This can be a tedious and time-consuming process that costs money and manpower. When there is marketing, logistics or other data that has to be included, you have to determine what pieces are relevant to which area and enter it accordingly. Then there is the matter of a product reaching end-of-life and needing to be removed. A PIM saves you that time because it allows you to manage all of this information in one place.
By entering data multiple times in multiple places, the risk of error and inconsistent input increases a great deal. When you consider the sheer number of SKU’s many companies have in their inventory today, the likelihood of an error in these circumstances can be mind-boggling. When you integrate a system like this in your company, it works with the systems and interfaces your end users use to access the data. This means the information gets entered one time, and what your end users see is consistent and most importantly, accurate.
Enhance Speed to Market
One of the most critical benefits of this type of system is that it provides a faster speed to market time for new products. Being able to manage all data related to a new product in one place allows you to enter, track and change information quickly and easily. Companies who operate internationally stand to gain even more because it can also translate international currencies, so getting a product out in a multi-storefront and eCommerce environment is much, much faster. Whether it’s marketing information, test data, inventory or pricing, you’re able to get the data where it needs to be, fast.
Maintain Brand Messaging
Your company’s brand image is a critical part of being top of mind when your customers need to buy. Entering product information in one place allows you to be sure you’re applying the right brand messaging to your products. It also ensures that the messaging is consistent in a multi-channel environment. Whether your customer is looking on a website, browsing in a store or ordering from a catalog, you know they’re getting the same information and the same experience your brand strives to provide.
Increase Your Bottom Line
The impact a PIM system can make for your company offers incredible potential for ROI that simply can’t be ignored. Not only does it save time and money, it allows you to get your products to market faster while staying consistent in your brand messaging. The biggest potential of all, however, is how this remarkable software positions your company for future growth in the fast-moving world of multi-channel operations and eCommerce.