If you run an e-commerce site or sell online, you have probably heard, read, or even made your own research about Product Information Management systems or PIM.
In itself, product information management refers to the set of processes, whether manual or automated, that is practiced by a business to manage information about the products in its catalog. A PIM system serves as a technology solution that consolidates these processes into a single place—from the collection of product information from manufacturers or suppliers, editing and enriching such raw information into marketable content, all the way to distributing such information to the various sales and e-commerce channels where the products are sold.
PIM is an oft-discussed topic in the e-commerce industry, yet many business owners (maybe yourself included) still hesitate when it comes to implementing PIM for their own business. Usually, the reason behind this unwillingness is not the failure to see the benefits of using PIM—several articles and case studies have already explored its advantages (See ‘Further reading and Case studies’). Rather, the question that often comes up is whether PIM is beneficial enough to warrant the cost of its implementation, or if it’s just a useful yet unnecessary tool to have. So when does PIM become more than a ‘nice-to-have’ organizational and management tool, and turns into an actual operational necessity?
Having worked with different businesses that range across different sizes and operate in different industries for the past 20 years, we at 1902 Software know that no two businesses are the same. So in this guide, we won’t be giving a definitive answer to the question posed above. Instead, we will be exploring four main topics that will give you a better understanding of PIM, in light of which you can then assess your business needs and the other factors and considerations that come into play behind the scenes of your operation.