What Is Considered PIM?

PIM stands for product information management. It's the process a business sets up to store, manage, and share product information such as images, walkthrough videos, SKUs, product descriptions, and warranty information. The amount and type of information a company has will vary depending on size, industry, and other factors. Every single business needs to have a PIM system that allows central access to up-to-date product information.

What Is a PIM System?

A PIM solution is a software program specifically designed for product information management. Product information management software includes tools such as filters, tags, and change logs to help you not only store information but also sort through it with ease. What's more, many PIM systems come with digital asset management (DAM) functionality. This allows you to store not only text content but also audio files, videos, and images. PIM systems act as a single source of truth for your organization while allowing you to share curated content with business partners, suppliers, and consumers.

What Is PIM Used For?

Every single business can benefit from all that a PIM has to offer. PIM software centralizes product data. If you need to find information on any product or product line, you can do so with only a few clicks of a mouse. What's more, many PIM systems integrate with third-party platforms. This allows you to share product information with target audiences. Manufacturing companies that sell goods to other businesses can share branded advertisements and updated digital catalogs with vendors to allow them to make orders and promote company goods using uniform advertising. Companies that sell products directly to consumers online can use a PIM system to automatically update e-commerce sites and social media platforms. Even brick-and-mortar companies that don't sell goods and/or services online can benefit from using a PIM to store product information and automatically update social media platforms.

In most cases, a company's marketing team is in charge of managing the PIM system in order to use product information to generate sales. However, others in the company will likely need to access the system as well. Customer service reps, for instance, can use the information on the PIM platform to answer customer questions. Product managers can use the system to see which products generate the most sales and profits.

Which of the Following Are Examples of PIM Applications?

PIM systems should not be confused with popular programs such as Dropbox and Amazon Web Services. Cloud storage sites allow you to store all types of files in the same location. They allow workers from different branch offices to access and update information. They also allow you to share information with customers and sales partners. However, they don't have the PIM tools you need to properly manage your information. These include tags, filters, and the ability to bundle products.

Product information management system examples include Plytix PIM, Salsify PIM, Akeneo PIM, Acquia PIM, and Lumavate. Most PIM tools come with DAM functionality. All of them have an assortment of tools and features to allow you to store product data in a centralized location and then access and share it as needed. However, you'll want to choose a PIM system with care to ensure you're getting the cutting-edge tools you need to grow your business.

Perusing a list of the top 10 PIM software programs won't help you find the best PIM software for your business. Rather, you'll want to assess your company's needs and goals to see which PIM tools and features are the most important for your situation. Do you sell most of your goods online? If so, you'll want a PIM platform that can update product pages, bundle products, and provide consumers with custom product recommendations. Alternatively, do you run a B2B company that manufactures a huge array of products and sells these products to B2C vendors? If so, your priority may be to pick a system with unlimited product storage space. You'll likely also want tools that make it easy for you to create and update digital catalogs for your sales partners to place orders with ease.

If you're looking for an affordable, versatile PIM system with multiple tools and features, Lumavate stands out from other PIM software examples for several reasons. The Lumavate PIM system is a three-in-one platform that includes not only PIM and DAM functionality but also product experience management (PXM) tools. Instead of relying on product integrations to help you share product information, you can use Lumavate's PXM platform to create and update websites and microsites, generate forms, create catalogs, promote product sales and business events, and more. Lumavate's system allows for an unlimited number of product SKUs and has unlimited storage space for product information. It's user-friendly, and you don't need to know how to code to use all of Lumavate's many tools. What's more, Lumavate is very reasonably priced. In fact, it can be up to 75 percent cheaper than some other PIM platforms.

Other PIM platforms require companies to request a custom price quote and then have the PIM system set up by the PIM company's tech experts. The process can take days, and you have to pay extra for the tech help. What's more, if you need more or fewer tools in the future, you have to repeat the setup process all over again. Lumavate, on the other hand, has three standard price plans to allow you to get the services you need without paying for features you don't want. Once you pay for a plan, you can start using it immediately. If the plan doesn't meet your needs, you can upgrade or downgrade to another plan without losing your information.

Your product information is one of your most valuable assets. It enables you to set your business apart from the competition. It attracts customers by presenting your products in the best possible light. It allows you to offer great customer service to your target audience because you can answer questions and provide information without undue delay. Lumavate is an ideal PIM platform for storing, managing, and sharing your information because it offers all the tools you need to use your product data to its fullest potential. Get in touch with us to find out more about our services, schedule a free demo, or start a 14-day trial period for your business.