Data Enrichment Services

1. 5 Benefits of Good Product Information Management This year, loads more companies are making efforts to improve their data integration and management systems. They understand effective product information management (PIM) is key to business success. Getting it right brings a whole host of benefits to the company. Whichever PIM solutions you choose should have several top features. These include adequate data storage and retrieval mechanisms. It should be able to integrate with other systems in the business. Moreover, it should provide reports on all the data you have. The system should be open access to allow for customization. Last, it should be scalable since the owner expects the business to continue growing. Keep reading to learn the benefits of having good product information management software. Product Information Management Benefits Good product information management is essential due to the current dynamic business environment. No matter your industry, managing data well gives you an edge over your competitors. Here are 5 benefits of a good PIM system: 1. Better Product Data Management As the business grows, there’ll be many new products coming in. As such, it can become difficult to keep track of all that product information. This leads to disorganization, which, in turn, affects customer experience. A reliable PIM system can help you sort that out. It will organize and manage all product information. It will also make it easier to share that data across different channels. 2. Improving Customer Experience PIM solutions give customers consistent access to detailed and relevant product information. This reduces instances of product returns or complaints. It also reduces shopping cart abandonment.

2. It makes new products available to customers much faster than in normal circumstances. Customers can also see how much stock is available if they want to buy something. Plus, the information enables the business agents to serve customers better. Customers can research what they want and head to the checkout section to buy it. This gives them more control rather than having an agent pushing them to buy. 3. Boosts Time Efficiency “Time is money” as the saying goes. With PIM software, you save time on tasks and focus on important work. It reduces constant and manual data entry work. It makes it easy to search for products and update the inventory. Moreover, it is easier to clean data and streamline information. As a result, employees have more time on their hands to deal with other profitable tasks. It also reduces the data management frustration that may affect the work environment. 4. Ensures Cost-Savings Implementing a good PIM system reduces operational and supply chain costs. Information accuracy reduces management risks and prevents the costs of bad product data. Companies are able to replace out of stock items before customers start complaining. In addition, suppliers use the PIM data to audit and improve their delivery methods. This boosts customer experience and allows suppliers to outdo their competition. 5. Offers Easier Integration PIM solutions are easier to integrate than business enterprise systems. For example, an ERP needs more customization than a PIM. This flexibility means you can customize PIM to manage all your data processes. In turn, this will cut costs on management and marketing new products. Learn More About Data and Information Management The points above show the benefits you’ll get from good product information management. You’ll have access to all data and relevant product reports. It will also save you money, improve customer experience, and boost employee productivity. What is PIM Software and How Can It Help You?

3. Once upon a time, businesses had to keep paper files detailing everything about their products and customers. But when the internet came into the picture, that all changed. Now, businesses are finding ways to manage vast amounts of data electronically. One of the most convenient methods is through PIM software. Do you sell products through several channels and have a seemingly endless amount of information to track? Then it’s time to learn about PIM software and its many benefits for businesses. What Is PIM Software? Product Information Management (PIM) software has a number of tools or programs that go by a variety of names: Personal Information Manager Personal Information Management Product Image Manager Product Data Manager All of these tools have the same purpose. They compile everything about a company’s products and customers into one organized program on the computer. Any information necessary to market and sell products is stored in software suites. This software is perused by members of the company and updated regularly. In this way, businesses can store and alter data as needed to execute daily tasks. The Purpose When stored in one location, product and customer information remains uniform across channels. Marketers and manufacturers, for instance, refer to the same information. If something is updated, the changes are reflected in real-time for everyone involved to see. The data stored is broad in nature, encompassing anything having to do with selling and marketing: Customer information SKUs Images Videos Reference numbers Using this data, PIM programs can even schedule reminders for companies. The purpose of compiling this data is to make it easily accessible for everyone involved in the selling and marketing process. Because of this feature, cross-channel distribution is enhanced and errors are minimized.

4. Who Benefits? Large companies with hefty amounts of data can greatly benefit from PIM software. However, even small companies will be astounded at the numerous advantages. The ideal business: Sells and markets a wide range of products Works with multiple channels to sell items Is comprised of many teams Wishes to enhance the communication among employees and channels within its ranks How Can It Help My Organization? Product Information Management can help every business. Regardless of a company’s size, PIM organizes documents into a manageable and easily accessible format. From decreasing errors to boosting productivity, it’s sure to help your company, as well. Organization Sifting through thousands of unorganized files for one piece of information takes time away from actual work. Using personal information manager software allows employees to quickly access the information they need to complete tasks. Within these programs, searching for information and updating is a simple process. Furthermore, errors are reduced across channels because all units utilize the same documents to retrieve information. This minimizes the risk of errors in marketing and promoting products or in contacting consumers. Cost Savings The reduction of errors means companies spend less on mistakes affecting customer satisfaction. The accurate information lessens the chance of sharing incorrect product information. Delivery methods, purchasing procedures, and appropriately-stocked inventories are all optimized using the data in PIMs. As a result, customers receive the highest-quality care possible.Furthermore, because PIM solutions are easy to integrate, companies save money on management and manual forms of marketing. Unit Growth In addition to the simplicity and convenience PIM software offers, businesses can easily assess the efficiency of teams and units. If one unit is excelling, its data can be shared with less efficient decision-making units to foster growth.The software allows for not just the sharing of data, but growth from others deciphering that information, as well. Brand Loyalty Approximately 45% of product returns are because consumers received the wrong item or because the item did not fit the appearances portrayed on the seller’s page. PIMs encourage accurate information across all channels. This leads to high-quality customer-business relationships. Customers know exactly what they are receiving, reducing the chances of returns. If a customer receives exactly what he or she wants, it increases the chances of that buyer returning to your company for other products. Therefore, personal information manager software is an easy way to increase your brand’s reputation and your consumer base.

5. Marketing Obviously, one of the greatest benefits of PIM software is in marketing. By quickly and securely accessing consumer and product information, marketing teams ensure they form positive relationships with customers. This information also increases the ability to provide personalized suggestions to customers based on their data. In turn, that encourages them to purchase goods. Multi-Channel Distribution Does it feel as if news crawls across the different distributors you work with, leaving a few lagging behind with inaccurate information? That is a problem of the past with product information management solutions. Instead, every team, manufacturer, distributor and channel is up-to-speed. If a product is updated, all units can see it and stay on the same page. Reach Milestones Through information management software, businesses track their progress to finally reach the milestones they have been working towards. Owners can keep an eye on their products, their teams and everyone’s productivity. If growth in one area stagnates, the data is available to find out why. In this way, the company continues to optimize its progress and grow towards the future rather than being overwhelmed in the present. Convenience Finally, there is the simple matter that everything is in one area. It’s easy to search, access, update, find and share documents. The collaboration these solutions offer is seamless. It makes life easier not only on employees but on teams, management, consumers and the company as a whole. Leap Towards the Future It’s time to stop feeling overwhelmed by the amount of data currently crushing you and your business’s progress. Instead, let’s work together to wrangle that data into a form that’s not only manageable but easy to work with. If you’re ready to integrate a powerful and successful PIM software program into your company’s future, contact us for the solution you need. 5 Reasons Why PIM Is Important For Your Business PIMs have been transforming the way businesses control their data for years. As a leading global Akeneo Gold solution partner, we empower businesses to organize and enrich product

6. catalogs, deliver impactful product experiences across sales, marketing, and customer support channels, build product experiences, and unlock business growth. What is PIM? PIM stands for Product Information Management and is a set of practices or applications used to manage product information across organizations, supply chains, commerce and customers. At its most basic level, a PIM lets you collect, manage, and enrich your product information, create product catalogs, and distribute information to your sales and eCommerce channels in one place. This is an essential tool for retail businesses in particular that manage products online. It should be noted that a this system doesn’t handle all product information and not all information is moved into the PIM system including prices, discounts or stock information. This information will need to be fetched from other sources. The main principle of the this system is that it always contains marketing and sales information, nothing more. Why do you need to use PIM? PIMs are useful for retail businesses where their product information is spread across different channels. It creates a parallel process in product enrichment. Many people in the team can edit, update and share your product information from one central source. The PIM system will keep track of all the information that has been shared and updated and will prevent these changes from being overwritten. Many companies use a PIM when they have thousands of products and it has become a nightmare to manage. Yet, stores with a limited number of products also benefit from using one, especially when they have lots of variables and customisations to manage. So, why is PIM important? There’s a lot to like – it’s a software that evaluates, stores, manages and helps you to distribute your products, so what more could you want? 1. Increased efficiency and productivity The central hub provides your team with a one stop solution in finding all the relevant information relating to a particular product. There will be no time lost or confusion trying to locate, cleanup or piece together your product information. The time you would have lost can be better spent on-boarding new products and expand your product catalogue size. Having a back office system of all your products that your team can access and modify without bothering your eCommerce store means you can work in a more agile way. With a PIM organising all your product information, your team can focus on making this information as accurate as possible.

7. 2. Improved product content quality Using one increases the likelihood that products will get the attention they deserve through enrichment. Customers expect to read thorough and accurate product descriptions along with images or videos. If they can’t find what they are looking for, or can’t get what they want, they’ll go to another retailer. A PIM gives you the right infrastructure to streamline and improve the way you work with your products. This means you are easily able to create high quality product information. Well-crafted product descriptions bring the right customers closer to a purchase. Having the ability to add product images, videos or other assets in one location are key in getting the product past the checkout. 3. A single source for all your product content As mentioned previously, a PIM lets you distribute your product content and information directly from one place. Instead of looking around for the most up to date images or descriptions, you’ll have them all to hand in your PIM. For example, if you are about the release a new product line, you can add all the product information into your PIM, add more content, related images, press releases and any other assets. The power of PIM is that you can then link these products, assets etc into catalogues so that everything is easily accessible. 4. Enhanced customer experience A PIM system allows customer-centric product categories and structures to be created. This makes site navigation significantly more customer friendly. When customers are making specific searches such as finding a particular size or colour, all the relevant products show up. This shortens the customers’ search process by helping them find products quickly and easily. Akeneo found that customers who interact with site search convert 400% more than those who do not. This promotes the need for clean, accurate data to be fed into your website from your PIM and helps to build confidence in the brand and enhance their buying experience. 5. Improved ROI Having a modern, well designed PIM can significantly transform the amount of sales you receive. Many companies who are using PIM report increased conversion rates and decreased product returns.

8. What is a Product Informatio n Manageme

9. nt (PIM) System? Product Information Management (or... PIM) A PIM tool is a software solution that helps retailers, wholesalers and manufacturers to control their products in a central place. It provides one single point of truth of the product (and all its data). It is the place to gather, optimize and distribute product content data. It is in a sense the central tool for Product Data Management, though it offers much more. To visualize the central role that a PIM system can have in your IT architecture, you can see how it connects internal sources of product data with external sales channels: Top 7 PIM Tool use-cases There are multiple ways to use a PIM system and put it to best effect. We've outlined the top 7 reasons to use a PIM tool below:

10. Using a PIM tool to manage Complex products Within a PIM tool, it is possible to manage complex products in an efficient manner. Companies introduce products that consist of a large number of combinations (such as an outfit consisting of pants, shirts and shoes) or variation possibilities (such as a T-shirt in different colors and sizes). The challenge is to manage these assets efficiently and to subsequently be able to communicate it to various output channels. A PIM system allows you to do this in a simple and unambiguous manner, making your PIM a source of "Master Data". More info on the link between PIM and MDM? Read our article on the differences between PIM and MDM. Manage Relationships in a PIM system Another important theme within ecommerce is relationships and dependencies between products. Relationships between, for example, spare or replacement parts, options, accessories, etc. can be easily maintained and displayed within a PIM system. Want to determine your PIM profile for free? We help organizations find the right PIM Solution for their organization. We match your PIM profile to our database of PIM solutions and find the best fit. For free. Follow International Standards Besides the fact that products have their own specific characteristics, the trend is that more and more products are classified following international standards such as GS1 or eClass. One of the powerful tools within a PIM system is the ability to assign classifications to specific products or product groups. This creates a 'rich' product, of which the content is easily shared. Easily import product content The content classification structure makes it possible to easily receive product data from central content repositories: they all use these international standards. Ultimately, the goal is to show the end customer as much information about the product as possible, which will improve conversion significantly. International business

11. The deployment of e-commerce causes blurring country boundaries. Many companies are increasingly active on the international market. With a PIM system, the localization of products can be easily tracked in a workflow. This way you can easily manage and implement translations and other regional adaptations such as specific legal requirements. Multimedia objects A PIM system is not complete without a Digital Asset Management (DAM) section. This is also supported by workflow within the PIM tool. The DAM system manages the multimedia objects such as images in various formats, documents and videos which are associated with catalogs and products. The additional functionality from the DAM system (searching, formatting and automatically converting, cross-referencing, exporting, etc.) is part of a mature PIM system. The 5 biggest advantages of Product Information Management Product Information Management, PIM for short, has become indispensable in the past 15 years. Certainly thanks to the rise of e-commerce. A majority of the omni-channel trade organizations in the EU manage their product data centrally. But surprisingly, only 25% use specific PIM software for this. Here you can read what PIM is and what the 5 biggest benefits of product information management are. Product information management focuses on all the data that is required to be able to market and sell the products of a brand, wholesaler or retailer through one or more distribution channels: from your own e-commerce store to marketplaces like Amazon.

12. PIM is more than a system You would think that PIM and PIM systems are inextricably linked. A PIM system is the basis of information for both internal systems like the ERP and WMS, but also for outwardly focused systems like the webshop, the cash register, marketplaces, telephone sales, CRM and other platforms with which you work. But PIM is more than a system. It also consists of optimizing the processes in your organization. And setting up a method that guarantees the quality of all data. So you are not there yet with just purchasing a software package. It is necessary to properly implement the package and to make clear agreements about it in the company. Often, multiple workshops are needed to change internal habits to the new digital processes. Related to PIM is the term Product (and Master) Data Management (also known as PDM / MDM). They focus on the registration of new product developments and includes master data, project management, product planning and time registration. The procedure of making and storing is central to this, rather than editing and selling. Which companies use PIM? At this point we see mainly wholesalers and retailers use a dedicated PIM. But recently also producers and brand owners are choosing to manage their article information centrally. This applies to all organizations with a lot of product data (from different parties) that benefit from centralization and dashboards. Does your company have many products, users, channels and customer segments? Do you sell in multiple countries, are the products complex and / or is data synchronized with multiple external platforms? Then your organization will benefit greatly from a good fitting PIM system. How does this work? Producers often supply information about the items, after which wholesalers and retailers supplement this with their own products and specific information for their customers. Then they publish it on their webshop and other channels. Rich product information can also be obtained from so-called data pools with millions of products (for example GS1 Data Source, IceCat, 2BA ). If something changes from the supplier, it is automatically updated in your PIM system.

13. 5 benefits of Product Information Management Implementing product information management by means of a central PIM system has many advantages. These can be found in both strategic and tactical and operational areas. The PIM system can therefore form a necessary condition for the continuity of your organization. 1. Support buying process The customer experience becomes consistent across all channels. Less annoying mistakes are made, such as an article name that is different in the webshop than in the back office. Or - even worse - prices are not the same everywhere. You can also determine exactly which information should and should not be shown on which channels. And (XML) data feeds are easy to share with marketplaces such as Google Shopping and Amazon. Consider for example mandatory feed values such as GTIN / EAN and MPN (Manufacturer Part Number). 2. Selling more Part of PIM is search engine optimization (SEO). This ensures more traffic and higher conversion of your webshop. Research shows online conversion rates can increase up to 56% due to better product information! Preferably you want to have good names, descriptions and specifications filled in for all articles. If you also create good relationships between articles in the backend, you also stimulate cross-sell and upsell. 3. Higher customer satisfaction Customers expect good and complete product information. End-consumers in particular want to be able to compare products in detail. An additional advantage of extensive product information is that you receive fewer questions about the products offered by telephone and e-mail. The number of returns will also be a lot lower due to a better managed expectation. 4. Broader and deeper product range A PIM system that categorizes and displays products in an orderly manner creates room for expanding the product range. If your data is complete, you have a better opportunity to sell a large amount of products without losing overview. You do not need to have a broad selection of slow-moving products (sometimes referred to as your longtail) in stock, but you can offer them via drop-shipment. Good product information (and speedy delivery by your suppliers) is sufficient in those cases. 5. More efficient internal processes The last advantage in this list is by no means the least. Many companies that have implemented a PIM system see their productivity increase and feel less frustrated managing their product

14. database. There are many advantages: when creating new products, data can be pre-filled. The workflow is unambiguous. Errors are detected faster. There is one source of truth ('golden record' / 'single version of the truth').