What Does PIM Mean in IT

What Does PIM Mean In IT?

PIM stands for Product Information Management. It is the software companies use to manage their product information in a centralized database. Lumavate’s PIM software, for example, can quickly integrate with your existing tech stack so you don’t have to start from scratch. You can use your existing CRM, for example, and integrate it with Lumavate. Regular product releases, bespoke templates tailored for manufacturers, and a highly experienced support team ensure you are up and running quickly.

Beyond that, you and your team should be able to relatively easily pick up how to use your PIM software, though that will depend on which PIM solution you choose. Lumavate, for example, is quick to install, without needing a team of expensive consultants, and equally straightforward to use.

This allows you to manage all types of product information required to market, sell, and service your products. All of your product information will be centralized by the PIM software and stored in one place so that you have full version control and can easily manage and update your product information. Every department that needs access to this information can then be given controlled access to the software. You can allow marketing access to all the necessary information to provide a quality customer experience, while making sure that only product experts who have the knowledge and understanding required can update and edit product information, thus ensuring high levels of accuracy and reducing any mistakes.

What Is Meant By PIM System?

Your PIM solution centrally stores and manages all types of product information and data. Depending on what you manufacture, you may need to store and manage pricing, SKUs, product descriptions, features, benefits, functionality, dimensions, weights, and more. However, with included Digital Asset Management (DAM) functionality, such as that included with Lumavate’s PIM software, you can also store and manage any related digital and marketing assets, such as “how to” videos or written instructions, maintenance manuals, checklists, specification sheets, manufacturer’s safety data sheets, product images and videos, owner’s manuals, and more.

Any approved users from any department in your company can then log into the software and update or edit your product data in real-time, and you can limit this so that only qualified and experienced experts can do the editing and updating. This prevents just anyone from going in and accidentally changing data or figures and causing inaccuracies. Any other employees who need to can then go in and acquire any product data and be sure what they have is up-to-date and accurate. You then have a single source of accurate data that can be relied upon.

What Is PIM Software Used For?

Many manufacturers have product information scattered across their companies. Marketing might have taken product images for brochures and kept them either digitally or in a filing cabinet. Brochures themselves might only be found in marketing and sales or on the reception desk and who is to say whether they’re the latest version or simply what happens to be available right now. It may only be the product development team and engineers that have access to specifications, drawings, technical data sheets, safety data sheets, and other more technical product information. Documentation and Quality departments may have basements full of old product development files and document sets, including the only photographs taken of product interiors during development, all controlled as best they can by a single spreadsheet hidden on just one computer in their department. You may even find that some enterprising employee has been quietly storing everything they’ve got their hands on under their desk in a box.

This is the nightmare scenario that no modern manufacturer can afford. This makes it impossible to effectively manage all product data and update it accordingly.

It’s vital now that companies are able to produce an incredible and tailored customer experience. A customer may need images and highly technical information to make a purchasing decision. Someone else may need the most up-to-date product catalog. 

You simply can’t do that with the nightmare scenario above. You might seriously spend a week or more simply looking for those product photos in the basement that you know are there – somewhere. By which time, that massive lead you’ve worked for is gone, onto a new manufacturer who can provide what they need instantly.

So, now you’ve imagined the worst-case scenario, change that around completely to the best-case scenario, and what you’ve got is a quality Product Information Management software solution that allows you to collect all of your product data and information together in one place, with no searching, no wondering, and no waiting for the customer. You can update everything you have quickly and ensure everyone is working from the correct version of every piece of data. No more incorrect prices going to customers, no more missing out on sales because you couldn’t provide information to a potential customer quickly enough. Everything is simply organized and stored correctly in a centralized location that everyone who needs to can access quickly. You can then ensure brand consistency, reduce any errors, ensure the right prices are always available for sales and marketing, ensure any updates made are available to everyone, and you also have the ability for multiple users to manage product data within your business.

What Is an Example of a PIM?

Among the PIM tools in market, you’ll find Akeneo PIM, Plytix, Inriver, Catsy, Salsify PIM, Lumavate, and more. There are numerous PIM solutions available to choose from, enabling companies to compare the best PIM software available and choose the right one for them.

These PIM software examples all offer the ability to centralize the management of product data, but some top 10 PIM software solutions, such as Lumavate, offer far more. In fact, Lumavate is an outstanding PIM software, offering a great deal of flexibility, functionality, and usability to any company that chooses to implement it. Lumavate is known, not just for its robust functionality as a PIM, but also its functionality as a Digital Asset Management (DAM) solution, and Digital Experience Platform (DXP).

With a full DXP solution from Lumavate, not only are your product information ducks tightly organized in a row, for easy updating and disseminating, but you can use the software to create exceptional customer experiences to help sell your products, such as microsites, tailored product catalogs, websites, brand portals, sales resources, and more.

Why not book a demo today and see Lumavate in action?