It is often asked what a Product Information Management (PIM) System provides, over and above the typical core business system (ERP). An ERP holds product details doesn’t it? Some even enable you to attach images and datasheets. So why do wholesalers need to invest in a PIM system?
The nature of information management is changing because of the proliferation of data being created and maintained through various applications and databases. This is particularly true for product information whereby B2B businesses, and their customers, must collate everything relating to a product, from descriptions and images, to size, model and allergen information.
ERP Systems need a database with a minimum amount of this product information to work properly and support internal businesses processes. However, they are often restricted in terms of the information they can support. They are designed to store the essential data needed for day-to-day operations, such as product code, units of measure, and barcodes. As a result, many businesses are finding limitations and inefficiencies with their ERP systems, leading to compromise, workarounds and inefficiency.
So, why are people investing in PIM systems to sit alongside their ERP systems, and what does it offer that these systems cannot? A PIM system offers specific tools and processes to help increase efficiency, reduce time-to-market and improve the product data available to staff and customers.
The benefits of which are:
• Richer Product Data
A PIM system is designed for the specific purpose of holding a vast array of data and digital assets. This includes, but is not limited to, special characters and fonts, multiple descriptions, various languages, extensive attributes, imagery, and catalogue hierarchies, and more.
• Faster Data Collection and Management
PIM systems include best practice tools and processes to ensure that all this information is managed in the most efficient and effective way, such as mass update tools, data export and import templates, ‘drag and drop’ image management and multi-level product inheritance.
• Closer Collaboration with Suppliers
PIM enables businesses to easily collaborate with suppliers by enabling them to manage and update relevant product data directly within the PIM System through secure online portals. This increases accuracy, reduces duplication and automates the communication with business partners.
• Better Process Management
The process of collecting, enriching and reviewing product data is often managed through the exchange of spreadsheets and emails. A PIM System automates and controls this through proactive workflow and product ownership. This reduces the time-to-market for new products, the speed that updates can be made, and the time spent managing the process.
• Easier Distribution and Publication
Websites, apps and catalogues all require slightly different information, and is usually different from what an ERP system needs. This leads to multiple systems and spreadsheets being created to hold all the varying information. However, as a central repository a PIM system is better designed to hold and deliver this product information to all online and offline sales channels.
Adopters of PIM are reporting significant benefits over people using their ERP systems, including 50% reduction on workload in product data management activities and 95% increase in product data quality.
Find out how a PIM system will benefit your business by contact Andy Pratt on 0161 355 3000 or visit www.oporteo.co.uk to find out more.
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