„A PIM system increases the
quality of your product data.“
This sentence is omnipresent in the world of product information management. But exactly how and why data quality is improved through the use of a PIM system remains mostly unanswered.
We would like to shed light on this and have summarized in a concise manner the benefits of using a PIM system for companies as a whole and individual departments in particular. As a provider of a PIM system for the bicycle industry, we focus on typical scenarios that arise when handling product data by bicycle manufacturers and suppliers.
Company-wide benefits
All data in one place
The PIM system acts as a “single source of truth” and manages all product-related information at a central location. This ensures that there is only one valid version of the data across the company. Duplicates and outdated data that are hidden in various Excel files and data silos are finally a thing of the past.
Productive collaboration
The requirements for the scope and format of product data may vary depending on the department and area of responsibility. Complex coordination processes between teams are therefore inevitable. With a PIM system, all participants have access to the same current data status and can work with the information they need right now. All teams save valuable time and can fully concentrate on their actual, value-adding tasks.
Seamless integration with other systems
Modern PIM systems can be easily integrated into a company's existing system landscape. This integration enables the automation of various business processes and ensures continuous data reconciliation between the various systems.
One common process is to connect the PIM system to an ERP system. An ERP system is primarily used to plan and control complex business processes such as production and materials management. However, managing product data such as specifications, descriptive texts, media assets, colors, sizes and other product details is not included. This is where the PIM system comes in. The item number and abbreviation can be automatically transferred from the ERP system to the PIM system, where the corresponding article is created and then specified with marketing information. This saves time both when initially setting up a PIM system and when working with new items or collections on a daily basis.
Benefits in product management
Effective product data management
If there is one department that undoubtedly benefits from a PIM system, it is product management. The entire spectrum of product management processes — from procurement and creation to administration and maintenance to distribution of product data — is significantly supported by the PIM system.
For example:
- When a new product is developed, the first product data is already created in the PIM system and can be continuously updated there throughout the entire design process.
- Various functions, such as filtering, searching, and sorting, make it easy to edit data.
- The change history is comprehensible and previous versions can be easily restored.
- Approval workflows ensure that only correct and complete data is published.
Faster time-to-market
Product development processes are significantly accelerated through efficiency gains in data management and improved cross-departmental cooperation. This allows new products to find their way from the initial idea to a successful market launch more quickly. Even if all information is not yet available in full, some of the data can already be used to announce new products to customers at an early stage, for example as part of sales activities. It is possible to react flexibly and quickly to new trends and changing customer needs, as changes to the product are incorporated directly into all related processes without causing delays or additional costs.
Smooth exchange of information
Product data is invaluable, not only for internal use but also for external partners such as retailers and suppliers. However, the different parties often have different data format requirements. There are many heterogeneous data standards, especially in industries such as the bicycle industry. If product data is maintained manually in Excel spreadsheets, converting the same data into different standards and formats is extremely complex and prone to errors.
In a PIM system, on the other hand, product data is kept media-neutral and can be automatically exported to various formats and standards and made available to external parties seamlessly. As a bicycle-specific PIM system, VeloPIM supports all established data standards in the bicycle industry such as Veloconnect, BIDEX or BikeCenter as standard.
Benefits in marketing
Comprehensive media management
PIM systems are not only about managing product data, but also about the comprehensive organization of digital media files such as images, videos, and PDFs. In the PIM system, these media are linked to the corresponding data sets and automatically published on various channels, whether in the company's own online shop, on partner websites or in marketing materials — always in the right format and in the highest quality. The strength of a PIM system is particularly evident in automating processes to keep the effort required to provide media assets in various formats and on different platforms as low as possible.
Efficient content creation
PIM systems offer the option of implementing efficient workflows that generate content such as print catalogues or product data sheets directly from PIM data, fill digital price tags and provide digital channels such as web shops, apps, websites, digital signage or POS systems with tailor-made content. Changes can be added continuously and made live in the desired channels via individual approval logic without additional effort. As a result, content is available to consumers much faster and more individually.
Easy multichannel publishing
The omnichannel concept has also found its way into the bicycle industry and presents manufacturers, suppliers and retailers with the challenge of offering their products on various platforms such as web shops, marketplaces and social media. This is a complex task, as the multitude of channels also entails different requirements for product data. A PIM system significantly simplifies this complex process by storing product data and assets in a media-neutral manner and automatically delivering them in the right scope and format.
In addition, modern PIM systems such as VeloPIM are able to manage data in multiple languages and make it available in the right language, depending on the channel. In this way, companies can easily enter international markets and strengthen their global presence.
Benefits in e-commerce
Compelling product experiences
Nowadays, buyers conduct extensive product research on various platforms before making their final purchase decision. With a PIM system, vendors can ensure that their product data is presented in consistent quality across all channels to offer their customers a seamless shopping experience. In addition, cross-selling and up-selling information, such as suitable accessories or spare parts, can be stored in the PIM system so that they can be displayed in the web shop at the right time. This not only supports the sale of related products, but also contributes to long-term customer loyalty.
The functionalities of a PIM system also significantly simplify the enrichment of product data, whether with meaningful product descriptions, images or product data sheets. The more comprehensive and high-quality this product information is, the higher is the probability of appearing in top results in search engines and online marketplaces. This increases customer visibility and maximizes sales potential.
Real time update
With decentralized data storage, data changes must be manually updated individually on all platforms and media. This process is not only extremely time-consuming, but also prone to errors. There is a risk that customers will make their purchase decisions based on outdated information. With a PIM system, all product data is forwarded directly from the system to the various sales channels and all changes are transferred in real time.
Fewer returns
Unmet expectations are one of the main reasons for returns in e-commerce. The cause is often incorrect and incomplete product information, which is presented to the customer in the web shop. With a PIM system, the creation and maintenance of product data is significantly simplified, making it easy to provide complete product information. The customer receives all the information they need to make a well-founded purchase decision, which significantly reduces the probability of returns.
Conclusion
Even though the benefits of a PIM system are convincing, you may be wondering whether it isn't extremely complex to implement. The answer is no, not if you choose the right implementation partner.
We have developed VeloPIM specifically for the bicycle industry and know the processes and structures of the bicycle industry inside and out. We can therefore implement the system for you within a very short time and adapt it to your individual requirements.
