Beyond the benefits of PIM Systems for the business like increased productivity, saving time and resources, improving customer experience, etc., there are several other often overlooked reasons why product information management is important. These are some key reasons why we see PIM as essential to a business.
Transparency with customers
People want to buy products with good information. You would be more likely to buy a phone if you could view all of the technical specifications than if you could not. The modern business world is about building trust and relationships with customers, and one of the key ways to do this is to be transparent about your products. PIM Systems helps business's to easily distribute their enriched and accurate product information to customers. Customer service is also likely to improve as employees have easier access to accurate and up-to-date product data to respond to queries or issues.
A PIM System gives your business the reassurance that all of your product information is up-to-date, accurate, and consistent across all platforms. With full disclosure of your product information, there is less worry about getting into trouble over customers' health and safety, which could be an issue if product information is stored and displayed incorrectly. For example, a customer might be allergic to a certain substance in a product. This point is especially relevant for manufacturers when the products they are selling can become dangerous if used incorrectly.
Any system that increases the efficiency of an employee's job, while removing the need to manually perform repetitive, monotonous tasks is likely to increase employee happiness. Furthermore, with a central location for all of the company's product data, the stress of trying to find the latest product information from different parts of the company is eliminated.
Equips your business to easily scale
With channels in place that make it easy to store the data in different languages and for different marketplaces, as well as speeding up time to market, OneTimePIM makes it easy to scale your business in the future. Easy importing and creation of new products also means it is quicker to prepare marketing content for these products and they are ready for launch sooner.
Elimination of data silos within the business
A data silo is a collection of data held by one group that is not easily or fully accessible by other groups in the same organization. PIM Systems eliminate these in relation to product data because all departments have access to the same single source of truth. This encourages collaboration across departments and increases the staff's feelings of a team effort. For example, the technical team may need to update attributes like length, height and weight. Once this is done, the marketing team can come in and write rich product descriptions and titles without having to ask other teams to send spreadsheets, etc.