In the early days, your business almost certainly focused on one or two products. You poured all your resources into that product. You never imagined a need for a product information management system.
Of course, most new businesses never imagine a time when they’ll need a dedicated IT team, a new building, or off-site document storage. Yet, even small businesses find they need these things every day.
If you’re wondering if a PIM system is right for you, keep reading. We’ll look at five reasons why you need one.
1. In-House Efficiency
When your business only makes five products, you can reasonably keep all the information organized in one document. You can probably recall most of the details from memory. Not so when you make a few hundred products and discrete teams play a role in product information management.
In that scenario, it’s all too easy for the silo effect to take root. Different teams might maintain different information repositories to maintain a level of control.
A product information management system keeps all of that information centralized.
2. Easier Information Distribution
Odds are good that you sell your products through multiple distribution channels. When you use PIM systems, it ensures that every distributor and retailer gets identical information.
It also spares you the hassle of providing individual copies of product information to every distributor or retailer. Instead, they access that information through an automated PIM system portal.
3. Simplified Updates
Every company will eventually phase out older products. Maybe a product proves unprofitable or you develop a better version.
Product information management systems let you update your offerings one time, in one place. Then, the update becomes available to everyone selling your products.
4. Better SEO
Good product information entries don’t just list core features, they also provide category info and attribute options. Let’s say that you specialize in men’s clothing. Good product information will include things like:
- Available sizes
- Available colors
- Style category
These are also the exact kinds of things that people search for when looking for new clothes. By making that information available, you make your website more relevant for the right potential customers.
5. Better Resource Management
A PIM system essentially lets you automate and streamline most of the processes that go into dealing with product info. That means you free up employee time for more meaningful work. You also eliminate redundant work by multiple teams.
All of this lets you get more from your organization without big expansions in staffing and payroll.
Is a Product Information Management System the Right Choice for You?
A product information system isn’t just for businesses with huge catalogs. The improved distribution, efficiency, and better resource management will only become more valuable for early-stage businesses as they grow.
Getting started early also lets you establish your preferences before negative issues like the silo effect can take root. You create the protocols you want before you must break the bad behaviors.
Looking for other technologies or insights that can improve your business? Check out one of the other great articles on our site.
Interesting related article: “What is Information Technology (IT)?“