Is PIM a SaaS?
by Lumavate | Last Updated: Dec 11, 2023
Product Information Management (PIM) software is the pinnacle of organization for any business that manufactures, markets, or sells products. If you're looking for a way to tag, categorize, and organize your products in a central location, you need a PIM solution.
What Is a PIM Used For?
PIM software centrally stores all product data, simplifying the management of product information. The best PIM software is easy to navigate and usable beyond product development and management -- customer service, marketing, and sales can use information housed in a PIM to access product specifications in ways that help your business distribute accurate information while saving time and money.
Product information management software can include multiple types of product data, including but not limited to:
Product descriptions
SKUs
Pricing
Features and benefits
Dimensions and other specifications
Functionality
Within the PIM software, your team can store branded content, such as marketing materials and collateral, and digital information, such as website assets and customer education guides. A fully searchable PIM is especially powerful, reducing redundancies as employees can search for existing assets. Digital assets stored within the PIM can include:
How-to videos
Guides and manuals
Spec sheets
Product photos
Marketing materials such as customer testimonialsIf the PIM system includes a built-in Digital Asset Management (DAM) functionality, these assets are easy to find and collaborate on -- especially since a PIM solution typically allows multiple users to log into the software and update data in real-time.
Is PIM a SaaS?
Not every piece of PIM software is a Software as a Solution (SaaS). Legacy PIM solutions are on-premise and often more static, confined to a more rigid, less user-friendly experience.
Newer PIM solutions, however, may qualify as SaaS. Lumavate is solely a cloud-based SaaS solution that has biweekly product releases providing its customers with new functionality regularly. The SaaS subscription allows for continual PIM software improvements.
Why Do Companies Need a PIM?
As manufacturers scale, they require a solution to manage product information accurately and efficiently. Most of them start with data stored in spreadsheets and various folders. Worse, some manufacturers keep product information locally, meaning if a hard drive is lost, so is all the data. Product information, images, and materials are scattered and redundancy is frequent.
By having a centralized location for all product data, companies using a PIM solution improve brand consistency and messaging, as well as the ability for multiple authorized users to manage the data. Product information management software allows behind-the-scenes asset management to improve customer-facing materials, which enhances the customer experience.
The PIM system can reduce conflict between teams, making it clear who owns which documents and assets within the PIM. It reduces frustration and versioning issues, encourages cross-collaboration, and helps the entire business become more aware of products on the market and in development. A PIM also makes it easier to distribute current data and after-market insights for future improvement and encourages interaction between product development, sales, and marketing.
A PIM system like Lumavate can also integrate with existing processes and software, such as Salesforce, to ensure customer data is linked directly to product information management within the PIM system. Product information management means never leaving your customer service reps -- or your customers -- without the tools they need to learn more about the products and find answers for themselves.
What Is an Example of a PIM?
Companies looking for PIM software have a lot of options for product information management once they understand the necessity of purchasing top PIM software.
There are numerous solutions on the market. Available PIM software companies include:
Plytix PIM
Pimcore
Inriver
Salsify PIM
Catsy
Lumavate
Acquia PIM
Akeneo PIM
Each of these solutions helps users centralize the management of product data. Plus, some solutions offer additional functionality. Lumavate is the best PIM software 2023, given its robust functionality as a PIM, Digital Asset Management (DAM) solution, and Digital Experience Platform (DXP), making it an ideal solution for creating and sharing internal digital assets and product specifications, as well as public-facing documents.
With a Lumavate PIM solution, you can streamline branding, protect your files, and increase productivity, creativity, and employee and customer empowerment. If you're considering a PIM system to add to the growth potential of your business, give Lumavate a try.