What Is Included in PIM Software?
by Lumavate | Last Updated: Dec 3, 2023
For many businesses, storing data about a product can be complex. If you are a small business aiming to grow, moving away from spreadsheets and their numerous inefficiencies to a more comprehensive and effective solution, like Product Information Management (PIM) software, could be a game changer.
To determine if it could work for your needs, consider what a PIM solution is and what it could do for the way you operate your business.
What Is a PIM?
PIM is used to centrally store and manage all types of product data. It allows you to have a single location to unify your product data to better allow collaboration across all business areas. By utilizing product information management tools, it is possible to store virtually all types of product data in a streamlined fashion, including:
Product descriptions
SKUs
Pricing information
Comprehensive product features
Product-specific benefits
Dimensions
Functionality
Product ratings
Product classifications
Product ingredients or components
This data is often slightly different from one product to the next, but storing it all in one location ensures it is easily accessible when there is a need to reference any type of product data. Also, note that the PIM tools in the market are quite comprehensive and can store much more than just words.
They can also be used to store your digital assets for each product, including:
Product photos
How-to videos for each product
Owner’s manuals
Spec sheets
For a PIM solution with built-in Digital Asset Management (DAM) functionality, this type of robust digital asset management feature can streamline the way you operate your business.
More so, PIM is highly functional. It enables multiple authorized users to log into the software. This enables the information to be assessed and updated as often as needed. Product data is always maintained in real-time, enabling better enhancement of communication across your business. Ultimately, product information management tools serve as a single source of truth for all product information.
What Is Included in PIM Software?
PIM software can include a wide range of valuable data components to meet your business’s needs. It is customizable to fit the specific product details your business needs to have on hand at all times. This includes all relevant product data, including product descriptions, pricing and pricing adjustments, features and benefits, and specs like sizing and dimensions.
Some of the most modern and higher-end product information management tools, such as Lumavate, have built-in Digital Asset Management (DAM) functionality. This enables the company to store all product data, including digital assets, in a simplistic and effortless location. That could include all of your product’s videos, ads, graphics, infographics, product images, and tech spec sheets. It can also include troubleshooting videos, installation videos, or a full owner’s manual for your employees to have access to.
How Much Does a PIM System Cost?
PIM tools in market are quite versatile and differ in what they offer and how comprehensive they are. That directly impacts their overall pricing. The cost of a PIM can vary depending on the PIM solution itself and the functionality of it. When comparing products to determine which is the best BIM software 2023 has to offer, you may wish to consider factors that make one product different from the other. Some examples of this include:
The number of times the product data is used
The number of SKUs the system can store
The PIM’s features and digital asset management capabilities
It is important to know that some PIM software companies, like Lumavate, take a different approach to pricing their products, including PIM solutions. Lumavate prices it as a comprehensive Product Experience Management (PXM) platform. As a result of this, users gain more access to the product and features they need in one robust solution instead of having to purchase numerous individual products.
Using Lumavate, you can start with its PXM platform for $499 monthly. In nearly all situations, Lumavate is 75 percent more cost-effective than competitive solutions on the market now.
What Is the Best PIM Software?
Numerous PIM software options are on the market today, each a bit different than the next. The best PIM software is one that fits the functionality needs of your business. Putting aside cost, various factors contribute to some of the best PIM software companies, including:
Plytix PIM
Pimcore
Salsify PIM
Inriver
Sales Layer PIM
Catsy
Acquia PIM
Akeneo PIM
Lumavate
Each of these solutions has the ability to centralize the management of product data. Lumavate is the only platform that offers a robust suite of functionality, including a PIM, Digital Asset Management (DAM) solution, and Digital Experience Platform (DXP).
The key here is to look at the difference in each of these PIM examples and what they offer. For example, the difference between PIM, CMS, and DAM is in the type of data and information stored within them. A Content Management System (CMS) will store a variety of content, such as product videos and product images. A DAM will allow manufacturers to store all types of digital assets across numerous channels and by various team members. A PIM solution stores product information and data itself.
Each of these components is typically critical to the operation of your business when seeking a streamlined and efficient product management solution.
What Makes Lumavate Different?
As one of the best PIM software 2023 has to offer, Lumavate offers the functionality and robust features that today’s manufacturer needs in a single and easy-to-use solution. This includes some key tools that give users more control over managing their product data. Some key differentiating features include:
Unlimited custom data fields to allow for capturing very specific data to fit just about any need.
Unlimited product types, including categorization features for product, part, brand, business unit, and so on.
Unlimited products without any limitation to the size or type of product makeup.
Product relationship tools to better enable solutions like upselling, bundling, parts management, accessory management, and cross-selling.
Unlimited users mean that every member of your team can access the data, and as a result, every team member can better contribute to keeping the PIM up to date with the most recent information.
Also, note that Lumavate offers a built-in Digital Asset Management Solution and offers tools like a change long and product status management.
Learn More About How Lumavate Can Support Your Needs
There are many reasons why Lumavate’s PIM is so well sought after. If you are making the move to a single solution to streamline your business’s products, schedule a demo and take a product tour now. Find out why our PIM can help shorten speed-to-market, provide the built-in DAM you need, and offer exceptional digital product experiences.