PIM stands for Product Information Management, and it is essential for anyone working in the B2B world. Almost every seller relies on a catalog of data to organize their often sizable assortment of products, whether it’s a distributor, wholesaler or manufacturer, and more often than not, those catalogs still exist in the form of multiple spreadsheets scattered throughout the organization.  Unfortunately this creates a lot of room for error, as well as task redundancy and an abundance of manual processes.  Here’s a quick look into how your organization can capitalize on well organized and accurate product information, and effectively utilize this data.

PIM solutions offer professionals the opportunity to pull their data from a variety of sources, including ERP, POS, spreadsheets and multiple catalogs, condense it into one central location and then automate the publication of that data out to multiple sales and marketing channels. The ability to sort and create product groups, categories, and hierarchies based on product attributes and rule sets allows you to search and batch edit information as you see fit for any of your multiple sales and marketing channels with 100% accuracy.  Think of creating promotions, new sales categories, price changes or inventory threshold rules for thousands of products at once with a single click.  Think of publishing tens of thousands of SKUs to a website or a 3rd part market in mere minutes.   It’s this type of agility that allows for faster speed to market, greater accuracy across channels, the ability to scale your business without adding costs and ultimately, happier customers.

Improve Your Customer Relationships

Nothing is more important in the B2B world that having solid relationships with your customers. And coming in at a close second place is good quality product data.  Not only do customers want to be able to quickly find their requirements, but industry professionals often see a product catalog as an indication of how easy a company is to work with. Rich product data, multi-media assets, cut sheets, user manuals, instructional videos, multi-language descriptions, all at their fingertips.  It’s not just wanted by today’s buyers, it’s expected.  A lot of the success of a wholesaler comes down to the simplicity of product research and having a partner that facilitates an easy buying experience, and having an accurate product catalog not only strengthens brand image, but also builds relationships and gives both you and your trading partners the ability exceed customers’ expectations.

Make the Right Impression

One small mistake in your catalog can create a world of trouble.   A wrong SKU number, incorrect pricing, poor images or incorrect product specifications can create headaches and added costs for your retail partners, not to mention fines for you, the distributor. The PIM provides a single source of product truth for guaranteed accuracy, and also has the ability to set rules and validations based on the completion stage of each product and its readiness to be published to each channel.   The auto-publication capabilities of the PIM also dramatically reduce the amount manual input needed to populate each of your sales channels every day.

The result?  No fines, better sell-through, better profit margins through internal efficiency gains and the ability increase your customer base without creating internal chaos.