What Is PIM vs DAM vs MDM?

Lumavate is a Product Experience Management (PXM) platform that includes a Product Information Management (PIM) solution. It has the ability to manage digital content using Digital Asset Management (DAM) functionality and to create branded digital product experiences with the Digital Experience Platform (DXP).

This guide will explain how these solutions are integral parts of the Lumavate approach when compared to other systems.

What Is a PIM Tool?

Product Information Management (PIM) software is used to centrally store and manage all types of product data. This data can include product descriptions, SKUs, pricing, features, benefits, dimensions, functionality, and all the other useful data about the product. The Lumavate approach is that product information can also include related digital assets such as product photos, how-to videos, owner's manuals, spec sheets, and other digital assets related to the products.

The Lumavate PIM solution has built-in Digital Asset Management (DAM) functionality. This PIM solution allows sophisticated product information management. Multiple authorized users can log in to the software at the same time and update product data in real-time. It serves as a single source of accurate product information.

Numerous PIM software solutions are available today. PIM software examples include Plytix, Pimcore, Salsify PIM, Inriver, Catsy, Lumavate, and others. Each of these solutions offers the ability to centralize the management of product data. Some solutions offer additional functionality.

Lumavate encourages potential clients, such as marketers in manufacturing, CPG, and medical device companies, to book a demo for a presentation of its features to compare Lumavate to other PIM solutions. Lumavate is the preferred solution, given its robust functionality as a PIM, Digital Asset Management (DAM) solution, and Digital Experience Platform (DXP).

What Is PIM vs DAM vs MDM?

A Product Information Management (PIM) solution is used to manage all information related to a company’s products. This includes up-to-date product data and digital assets related to products. This product information is used across a wide variety of online and print product experiences, including product catalogs, websites, sales materials, events, product packaging, and anywhere where digital product information is needed.

A Master Data Management (MDM) solution centralizes the organization’s information. Stibo, among others, are examples of the types of MDM tools used by large organizations. An MDM provides a company with a single source for ALL information across the entire business, not just product data. For example, an MDM may also include employee rosters, information about employee benefits programs, accounting data, tax information, and compliance requirements.

A PIM focuses only on products. A DAM focuses on digital assets. An MDM is used to manage a gigantic trove of data and digital assets covering all aspects of a large enterprise.

MDM vs PIM

An MDM solution is typically an enterprise-wide deployment that is extensive to implement. An MDM solution may cost hundreds of thousands to millions of dollars to implement at the enterprise level, making it more suitable for large multinational organizations with many locations.

On the other hand, a PIM solution is much easier to deploy, and a Lumavate system that includes a PIM solution with a DAM has a modest subscription cost, starting at $499 per month with a 14-day free trial.

The Lumavate system is a more useful implementation for marketing and sales teams that do not require the other types of data managed by an MDM system. The PIM has all the product information and, along with the Digital Asset Management (DAM) solution, allows companies to store, manage, and share product information and digital assets with other team members working in the business and external partners.

What Is the Difference Between PIM and PCM?

As noted, a Product Information Management (PIM) solution is designed to centralize product information management, including product data and digital assets. This product information is used across a wide variety of online and print product experiences, including product catalogs, websites, sales materials, events, product packaging, and more.

A Product Content Management (PCM) solution manages the creation, storing, and distribution of product content, videos, how-to guides, and other digital content. A standalone PCM solution isn’t always necessary, since most PIM solutions also have built-in Digital Asset Management (DAM) functionality for the management of digital assets such as videos, images, documents, and other digital content. What they may lack, are content creation functions.

For content creation, the Lumavate Product Experience Management (PXM) solution has a built-in Digital Experience Platform (DXP) where product content can be created and then tied to the PIM and DAM systems, thereby eliminating the need for a separate PCM solution.

What Is the Difference Between PIM and CMS Solutions?

A Product Information Management (PIM) solution offers centralized product information management of all product data and related digital assets. This product information managed by the PIM solution provides up-to-date information. This “source of truth” for factually accurate product information is used for various online and print product experiences, including product catalogs, websites, sales materials, events, product packaging, and any content that needs to present product data.

A Content Management System (CMS) is used to create, edit, and publish online content. Online content is where a PIM solution and CMS interconnect to work together. Typically, a CMS solution is used to manage a company’s website content. Many companies use a PIM system and also have a CMS solution. A CMS solution may make use of the product information in the PIM system and use the digital assets from the DAM system.

The Lumavate Digital Experience Platform

The Lumavate Digital Experience Platform (DXP) is like a CMS system on steroids. It has pre-existing templates. This allows a marketer to build and launch a digital experience fast. It might take only 20 minutes to customize a template compared to what used to take months for a traditional agency to design and then have the IT department create custom programming code. The Lumavate DXP may create product catalogs, brand portals, websites, campaigns, product sheets, packaging, labeling, and sales support materials.

The Lumavate Product Experience Management (PXM) platform has everything marketers need. It includes a Product Information Management (PIM) solution, Digital Asset Management (DAM) functionality, and the ability to create branded digital product experiences using the Digital Experience Platform (DXP).

Book a demo or start your free 14-day trial to explore the Lumavate Product Experience Management (PXM) platform. If you have any questions and are ready to start the conversation about how the Lumavate system can be deployed in your organization, book a demo to learn how.