What Does PIM Mean?

Product information management is here to stay, and it is one of the most important topics surrounding manufacturing, consumer packaged goods, and medical device industries.

Product Information Management (PIM) systems are created to make managing and utilizing your product data a lot easier, but it may be confusing as to what a PIM actually is, what features it contains, and how you and your brand can take full advantage of it.

In this comprehensive guide, we'll cover the fundamentals and advanced techniques of a PIM system, including different PIM system examples. We'll also cover the key questions to ask yourself before selecting the PIM that is right for you.

What Does PIM Mean?

PIM stands for Product Information Management, but this is more of a methodology. A PIM usually refers to a PIM system, which is a set of tools and software that makes product information management more accessible.

Product information manages all the different data and information that your company has that is required to market, sell, and even service products. They provide your front-line staff with the tools necessary to have meaningful customer interactions without consistently following up with subject-matter experts just to make a sale or answer a simple customer question.

In short, a PIM is a centralized hub that stores all the necessary product information. A PIM system example, like Lumavate, has built-in Digital Asset Management (DAM) capabilities, allowing you to store your digital assets as part of a comprehensive product information record.

What Is a PIM Used For?

Once the methodology is in place, a PIM system will work wonders for your brand. It is a central hub that stores, curates, and manages different types of important product data information.

Some common examples of essential product data include product descriptions, stock-keeping units (SKUs), pricing, standout features, benefits, dimensions, and functionality. This list is not exhaustive, but it is a standard list that needs to be kept in a centralized place rather than in data silos or fragmented places such as your staff's local hard drives.

The best PIM software, such as Lumavate, also includes built-in DAM integrations, which keep track of all associated digital assets with your product information. This means that all your product photos, documents, how-to videos, labeling instructions, product sheets, owner's manuals, and audio files are tracked and kept in an audit trail that is important for your front, mid, and back-office functions.

PIM solutions typically allow multiple sign-ins (with the administrator's approval, of course), which not only speeds up the time it takes to access pertinent information but also ensures that everyone has proper access.

What Is an Example of a PIM?

The PIM competitive landscape is fierce and requires careful consideration and due diligence. The best PIM will have everything you need, including DAM and DXP functionalities. We've broken down the best PIM software 2024 below to the top contenders and outlined their key features. PIM software examples include:

Plytix

• Scalability: Plytix can accommodate businesses of all sizes, from small startups to large enterprises. It scales to meet your growing product data needs.

• Strong Customer Support: Plytix is known for its excellent customer support, ensuring you have the resources you need to get the most out of the platform.

Pimcore

• Open-Source Option: Pimcore offers an open-source version of its PIM solution, which provides greater customization flexibility for developers who know exactly what they want.

• API Access: For developers, Pimcore offers API access, which lets you customize your access and integrations.

Salsify

• Enterprise-Grade Scalability: Salsify is designed to handle large enterprises' massive product data volumes.

• Advanced Analytics and Reporting: Salsify offers in-depth analytics and reporting capabilities, allowing you to gain insights into product performance and customer behavior.

Inriver

• Master Data Management (MDM): Inriver offers robust MDM capabilities, ideal for companies that need to manage not just product data, but also other master data types.

• Product Data Governance: Inriver provides advanced tools for data governance, which solidifies your data quality and consistency across your organization.

Lumavate

Lumavate stands out from the crowd by offering a comprehensive Product Experience Management (PXM) platform, not just a standard PIM solution. Here's what makes Lumavate unique:

• Complete PXM Solution: Lumavate integrates PIM, DAM, Digital Experience Platform (DXP) solutions, text messaging, and a form builder into a single platform. This eliminates the need for multiple-point solutions and simplifies product information management and digital experience creation.

• Unmatched Cost-Effectiveness: Lumavate is typically 75 percent more cost-efficient than competitors that offer less functionality. With Lumavate, you get more value for your investment.

• Quick Implementation: Get up and running with Lumavate on the same day of onboarding. No lengthy implementation processes or complex configurations slow you down.

• Ease of Use: Lumavate's user-friendly interface with no-code content creation capabilities empowers marketers to manage product data and create digital experiences without needing technical expertise.

• Exceptional Customer Service: Lumavate prioritizes outstanding customer service. Our dedicated team is committed to helping you maximize the value of your Product Experience Management (PXM) investment and guarantees your success.

How Do I Choose a PIM?

So, you've realized the power of PIM and are ready to dive in — fantastic! But with a whole sea of PIM solutions out there, how do you choose the perfect one for your business?

Don't worry, we've got you covered. Here are five key questions that you should ask yourself and your team before making your final decision:

What Features Do I Need?

Think about your product information management goals. Do you simply need a central hub to store basic product details? Or are you looking for a more robust solution with features like digital asset management, workflow automation, or advanced analytics?

Connecting the Dots With Integration

Chances are, your PIM won't exist in a vacuum. Consider the other systems you use daily — marketing automation tools, your CRM, or an eCommerce platform. Does the PIM you're considering offer seamless integrations with these systems?

Putting Your Product Information to Work

How will your product information be used? Will it power your website, product pages, mobile apps, printed catalogs, or all of the above? Understanding how you'll use your product information will help you choose a PIM that provides the necessary output options and formats for your specific use cases.

Investment and Budget Considerations

PIM solutions come with varying price tags. Before you start shopping, it's important to define a realistic budget for your PIM implementation. This will help you narrow your options and ensure you choose a solution that fits your financial constraints. We believe in price transparency; that's why all of our plans are listed publicly.

Time is Money!

Are you facing a tight deadline for implementing a PIM solution? Some solutions require lengthy configuration processes, while others, like Lumavate, can be implemented in one day. Knowing your ideal timeline will help you prioritize solutions that can be up and running quickly.

Choose Lumavate: Your-All-in-One Solution

While there are many PIM options available, Lumavate takes a different approach. It's not just a PIM system; it's a comprehensive PXM platform designed to streamline your product data management and empower you to create exceptional digital product experiences.

Lumavate brings everything you need together under one roof, such as PIM, DAM, DXP, text messaging, and form-building capabilities. This eliminates the need for multiple solutions, saving you time and money. Lumavate is known for its quick implementation, user-friendly interface, and exceptional customer service.

If you're looking for a powerful, affordable, and easy-to-use all-in-one PXM platform, Lumavate is definitely worth a closer look. Demo Lumavate for free today!