Picture this: You’re managing hundreds (or even thousands) of product details across multiple systems. Every time something changes, whether it’s the price or who supplies it, you’re scrambling to update the details across platforms, from accounting software to spreadsheets.
This kind of system isn’t just overwhelming; it’s inefficient. Relying on manual data entry can lead to mistakes and inconsistencies, and then you waste more time tracking down the correct information.
A better alternative is product information management (PIM). PIM systems provide a central hub for all your product data, making it easier to manage and update. Instead of bouncing between different databases and risking errors, you can make one update and instantly sync it across all platforms.
Keep reading to learn about PIM, how it works, and why it’s crucial for manufacturing and retail businesses, or jump to the bottom to learn about Fishbowl’s powerful PIM features.
PIM explained
So, what exactly is PIM? It’s a system designed to centralize and manage all your product data — from specifications and descriptions to images and pricing. Rather than having product information scattered across multiple platforms and spreadsheets, PIM consolidates everything.
Having one centralized database makes it easier to update, track, and share product details across departments or channels. PIM reduces the time your staff spends searching for details and correcting errors, as teams can quickly access the most up-to-date product information to ensure your business runs more efficiently.
Although PIM systems have more to do with marketing and sales than warehouse operations, they play a crucial role in keeping inventory data accurate and up to date.
Is PIM right for my business?
If you’re in the business of making or selling physical products, PIM can be a huge help. For manufacturers, product data management is always a complex job — there are a lot of details to keep track of, from specs to compliance details to inventory levels. PIM simplifies this by centralizing that information for easier management and access.
Retailers will appreciate the consistency PIM provides across all channels. Whether customers are shopping on your website, through a mobile app, or in-store, they’ll see the same accurate product details every time for a smoother shopping experience.
With PIM, businesses of all sizes can also overcome common ecommerce challenges. Managing data across multiple platforms can be a nightmare, but PIM takes care of that by syncing updates automatically. As a result, you’ll see fewer errors and save time on manual updates — making your omnichannel strategy easier to manage.
In some cases, you can also integrate your PIM and inventory management systems to optimize inventory accuracy. Or, you can choose an inventory management solution with built-in PIM capabilities, like Fishbowl Commerce Suite.
When product details — like dimensions, weight, and availability — are inconsistent or outdated, it can lead to fulfillment errors, shipping delays, and frustrated customers. But an up-to-date PIM system that works seamlessly with your inventory system means that stock levels and product details stay consistent across all sales channels. This reduces stock discrepancies and helps you deliver a better shopping experience for customers and fulfillment experience for workers.
How does PIM work?
As we’ve discussed, PIM works by centralizing product data in one unified system, which allows you to update and distribute it more easily. Here’s how the process works, step by step:
- Data integration: PIM starts by collecting product information from various sources, like CRMs, spreadsheets, and supplier databases. Then, PIM integrates all that data into one place. By consolidating your data, PIM reduces the chance of inconsistencies or missing information.
- Data enrichment: After your data is centralized, PIM allows you to enrich it by adding important details like product descriptions, images and videos, pricing, and even compliance information. The more detailed and rich the information, the better. This step makes it easy to create consistent, high-quality product listings across all platforms, ensuring customers have everything they need to make a purchase decision.
- Data management: After the data is integrated and enriched, PIM makes it easy to manage and organize it. Sort products into categories, assign attributes, and tag items for quick searchability. Need to update pricing or product descriptions? Instead of manually sifting through multiple systems, you can make changes in one place, and the PIM system will ensure those updates apply everywhere.
- Data distribution: Finally, PIM distributes product data. Depending on the PIM system you choose, you may be able to select which attributes appear where — so your website, online marketplaces, and print catalogs each display the most relevant information. Regardless of what you choose, all of the information should appear consistently, ensuring customers see accurate details.
What data does PIM manage?
PIM systems handle a wide range of product information. Here are the nine key types of data a PIM manages:
1. Core data
This category includes essential product details like item names, SKUs, descriptions, and categories. Including core data ensures every product has a clear identity, making it easier to organize and display inventory on different platforms. Core data is also highly searchable, making it simple for customers to locate what they need online.
2. Resources
Resources are the digital assets linked to every product, such as images, videos, and user manuals. A PIM system keeps these files centralized and properly formatted for each sales channel, ensuring a consistent and professional presentation.
3. Specifications
These are the technical and physical details of a product, including dimensions, weight, materials, and performance attributes. Accurate specifications help customers make informed buying decisions and prevent misunderstandings during sales.
4. Legal data
This covers regulatory information, safety warnings, compliance certifications, and industry standards your products must meet. Keeping legal data organized in a PIM system helps businesses stay compliant with regional and international laws while providing customers with required disclosures.
5. Pricing information
Storing pricing information in your PIM system ensures customers always see accurate pricing, no matter where they shop. Pricing data includes not only basic product prices but also discounts, promotions, or regional pricing variations like taxes.
6. Product variants
Product variants refer to different options of a product, such as size, color, or style. A PIM system organizes and links all the variations under one product record so customers can see all the available options in one place.
7. Marketing data
This includes product tags, keywords, descriptions, and any promotional content used to attract customers. PIM systems help you manage and optimize marketing content across multiple platforms, ensuring consistency in product presentation and enhancing visibility.
8. Customer feedback
Customer reviews, ratings, testimonials, and other feedback are essential for improving products and services. They can also help you make sales — positive reviews build trust and encourage other customers to buy from you. PIM systems aggregate this data and link it to product records so you can access and use it easily.
9. Regional data
Finally, PIM systems help you manage region-specific details, such as language, currency, and shipping options. This helps you ensure the right product data is shown in the appropriate market and allows you to cater to diverse customer needs.
Benefits of PIM
Implementing a PIM system brings a range of advantages, from improved operations to faster growth. Let’s take a look at some key benefits:
- Increased productivity: By centralizing product data, PIM reduces the time your team must spend searching for information and updating multiple systems. Instead, employees can focus on higher-value tasks, resulting in faster workflows and more efficient operations.
- More precise data: With PIM, all your product information is easy to organize and keep up to date. This minimizes errors and ensures your product details are always accurate, whether they’re being used internally or shared with customers, partners, and suppliers.
- Boosted customer engagement: Consistent, accurate product information enhances the customer experience across all touchpoints. When customers can easily find what they need and view clear descriptions and detailed specs, they’re more likely to engage with your brand and make purchases.
- Quicker market entry: By streamlining product data management, PIM allows you to prepare and launch new products more quickly. With all the data centralized, you can easily create new listings across multiple channels, ensuring a seamless launch with less time to market.
How can Fishbowl help?
Ready to take control of your product data and streamline your operations? Fishbowl Commerce Suite’s PIM features help you manage data across multiple channels with accuracy and consistency. Plus, as a powerful inventory management software solution, Fishbowl seamlessly integrates PIM with inventory systems to reduce errors and improve order accuracy.
Want to see how Fishbowl Commerce Suite can optimize your product information and inventory management? Schedule a demo today and discover how Fishbowl can help your business reach new heights.
