If you’re in the e-commerce business, you must effectively manage data on your products and services. You also have to do so in an organized and cost-effective manner. One way to achieve all of this is to use a product information management (PIM) tool. Available information shows there’s a steady yearly rise in the number of companies that intend to go into data integration globally. This is no surprise, as effective data integration and management are vital to business success.
What is a product information management (PIM) tool?
A product information management (PIM) tool is a software system that lets you have a single platform to collect and manage a business’ product information. This information is needed to market the products through various channels. It also includes the easy and fast creation and distribution of such product information. For a PIM tool to achieve the expected objectives, it has to possess certain qualities.
What are the qualities of a good product information management (PIM) tool?
As mentioned earlier, a good PIM should manage data on your products and services in an orderly and cost-effective way. In addition, such a solution should be able to collate data from several sources and combine them into a single, accurate data source. It should also quickly and easily send the data out to multiple channels, including marketing, social media, and sales, and fix issues such as data inconsistency.
When you have a top-class PIM tool, your customers can see how much stock is available for every product. This boosts customer experience and increases the likelihood of purchase, repeat patronage, and referrals. Such a tool should also have a search function that enables the fast location of products using criteria like price, name, size, and others.
A good PIM should have all of the previously mentioned qualities and also be able to integrate seamlessly with other essential software like catalogue management. An example of a good PIM is the product information management tool from Encode.