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ERP vs PIM - Which System Should Lead in 2022 and Beyond?

Depending on your business need, you can have either PIM/ERP or both in the system, to boost sales and ensure higher online conversions. However, PIM is one step ahead of ERP by performing diversified functionalities. Having PIM implemented in your system can help streamline the entire product data collectively in a single database.

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ERP vs PIM - Which System Should Lead in 2022 and Beyond?

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  1. ERP vs PIM - Which System Should Lead in 2022 and Beyond? ERP vs PIM is an interesting topic to discuss and many people often seem to be confused between ERP (Enterprise Resource Planning) and PIM (Product Information Management). The fact is both ERP and PIM serve different purposes but under one category i.e. data management. Most of us are familiar with ERP software, which organizes and collects business data through an integrated software suite. It integrates data of all the departments functioning in a business, such as accounts, human resources, production, sales, marketing, and more . https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

  2. What is PIM? / PIM stands for product information management that acts as an end-to-end solution for integrating your product database with your eCommerce, social, and marketing channels for customers to view it effortlessly. Be it you are a producer, wholesaler, or retailer, you can centrally collect, process, and manage product data as well as deliver your partners and distributors with the available information using several outputs and online channels through PIM. PIM can be used dedicatedly to subscribe to content from external sources and publish it to multiple channels such as print, website(s), a native mobile commerce app, or a marketplace. https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

  3. Capabilities of a PIM • Now that you know how PIM is extremely different from ERP, and it is important to provide high-quality information through content/catalog, it is necessary to know the benefits that PIM can offer to you. • Product Information Management is completely automatized • Easy management of related product content • Connects to other systems in a unidirectional and bi-directional manner • Straight access to digital and printed catalog design applications • Uses multiple file-formats for specific data export • Automated connection with Amazon, AliExpress Walmart, etc. like marketplaces • Automated connection with Shopify, Magento, BigCommerce, etc. which are the best and giant eCommerce platforms • Enables creation of instant catalogs using a public or private access • Language translation of product information • Analysis and shooting of errors and omissions in data quality https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

  4. Benefits of PIM • Offers User-Friendly Environment • Delivers Better Product Data Management • Improves Customer Experience • Reduced business operations and supply chain costs • Improved product time-to-market • Easy to Integrate with Business Enterprise Systems • Maintain product data consistency and quality across all the output channels https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

  5. Factors That You Should Not Confuse with PIM? 1. Do not mistake PIM as inventory manager An inventory manager takes the responsibility of monitoring the warehouse materials, catalog stock levels, and supplies. The primary responsibility of an inventory manager would be updating information about product stock and the recent status of orders and warehouses. In this way, the inventory manager ensures the availability of product data across the online store, marketplaces, physical stores, and other sales channels. 2. A PIM is never a CRM CRM is ideally designed for customer service teams to manage the customer database, especially for buyer data. However, PIM also plays a crucial role in customer acquisition and loyalty by providing accurate and product information and relevant content, to positively influence your customer’s browsing and buying experience. 3. Do not confuse PIM with DFM Data feed manager is an extension which spreads the company’s catalog across multiple shopping platforms and search engines, thereby servicing e-marketing campaigns as well. In this platform, a PIM passes on the required information to DFM and collates all product information, orders, sales, and stock across various marketplaces. https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

  6. Capabilities of ERP • ERP solution offers strong financial features which that companies/industries can ensure meeting their financial goals • With the ERP system, the company’s Human Resource department can avail of high benefits with full scope. • Managing CRM (Customer Relationship Management) becomes easier with the ERP tool. • ERP system helps management to keep everything happening inside the organization up-to-date. This includes both back and front office functions. • The advanced features of the ERP solution help your business to move faster with effective sales and marketing along with better supply chain management (SCM). https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

  7. Type of Data Hosted in ERP Benefits of ERP • Enhances Business Reporting • Improved Customer Service • Enhances Business Cash Flow • High-level Cloud & Data Security • Standardize Modern Business • Delivers Effective Supply Chain Management • Product manufacturing • Inventory • Human Resources i.e. employees and recruitment process • Company accounting • Big data and business performance analytics • Warehouse and distribution network • Customer database, the key to Customer Relationship Management https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

  8. PIM vs ERP – A Complete Analysis PIM is completely product information-oriented and for direct customer-facing, and ERP is more transitionally oriented. ERP can nicely structure and optimize your sales-related business, and if your organization has more processes like ledger maintenance and stock inventory. In simple words, a compatible PIM provides extended support in maximizing the capabilities you have created in ERP for your business. When both ERP and PIM functions together, it improves the efficiency and sales of your business. ERP can collect all the raw data of your business and integrate the information across all departments of your organization for internal purposes. Compared to ERP, PIM has a customer-centric approach towards networking, along with exhibiting certain functionalities and compatibilities that are available by default. A simple way to understand ERP vs PIM is with PIM you can subscribe to incoming data sources, produce them to listening systems and ensure your data quality management with more ease, thereby making monitoring possible through ERP. https://www.credencys.com/blog/erp-vs-pim/ | hello@credencys.com

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