January 10, 2017
Accelerated Growth Requires Excellence in Product Information Management
Rapid Expansion Requires Excellence in PIM Solution
Rapid expansion of a business comes with both positive and negative consequences. One obvious positive, of course, is the increase in the top line. Conversely, if a business is not able to scale people, process and technology to meet or exceed the rapidly growing demand, its ability to execute will be questioned. As the revenue grows and operations expand, leaders look at technology to improve their operational efficiency.
As a retailer, if your business growth looks anything like this, one of your strategic technological investments will be to efficiently manage your product information. As you begin the journey to onboard a PIM solution, key issues that could possibly be at stake include:
- The quality of product descriptions and marketing consistency across print, web and physical locations,
- An easier onboarding process for new products, and
- Prevention of and protection from data degradation downstream at the lower-level systems.
A One-Stop, One-Drop Solution
PIM solution serves as a single source of truth where users can author and update product information. A best of breed enterprise Product Information Management (PIM) solution is scalable, flexible with intuitive user interfaces and facilitates great user experience. It can seamlessly integrate into your existing ERP, ecommerce, marketing applications and print catalogs. Users will be able to quickly review and update from thousands to millions of product records on a daily basis.
This translates to:
- A single entry point for all product information
- A centralized data governance policy to ensure data consistency and improved data quality
- Improved workflow processes to speed up delivery to your customers
- Higher levels of automation in scenarios with predictable rules and actions
Better Data Management Results in Increased Customer Loyalty
When you bring onboard a best of breed PIM solution, you should see the following results which becomes the foundation of your accelerated growth:
- Consistent product data quality
- Accurate, real-time product data
- Higher throughput of new product creation or updates
- Faster new product creation
- Improved customer service
- Increased market penetration
As you add hundreds of new brands and thousands of new products to cater to your customer’s choices, you need a fast solution and easy way to integrate with your applications to fuel your business growth. With a best of breed PIM solution in place, you can rapidly meet the needs of your loyal customers, and continue to see your company and profits grow.