Definition: Product information management
What is the definition of PIM?
PIM stands for Product Information Management. PIM software covers a variety of processes that are required for the successful management of product data. PIM product information management includes methods for collecting, maintaining, processing, and distributing data across systems.
PIM is useful for any business that needs to manage large amounts of product data, or who has multiple distribution channels. Organizations have a central hub to store, enrich, and share this product information, simplifying the process of creating, maintaining, and distributing product descriptions and specifications.
PIM has a number of benefits for businesses that manage product data. It helps brands deliver consistent and relevant product information through every distribution channel they manage. Like digital asset management (DAM), PIM also provides a secure, centralized location for product information, so the correct data is always used and any updates synchronized. Brands can use PIM to speed up the process of producing high-quality content and reduce the time it takes to get a product to market.
By connecting Bynder's DAM and a PIM system, businesses can integrate all product information with all their digital assets—read our blog on the topic to find out more.
Download our guide "Digital asset management for e-retail" and learn how Bynder's Digital Asset Management, templating tools, and ability to integrate with the best PIM systems help consumer brands worldwide stay relevant and competitive in the e-commerce race.
Why businesses need PIM
PIM is useful for a variety of job roles. This includes marketers, e-commerce managers, retail professionals, and data governance teams. Here are some of the reasons why businesses need PIM.
Better management of content
Businesses manage an enormous amount of data. With PIM, images, text files, digital assets, and other product data are accessible from one centralized, secure location. By integrating PIM and DAM, users can be confident they are always accessing the correct data and can distribute it easily on a variety of channels.
Discover more about integrating your digital asset management system with the rest of your wider marketing tech stack with our simple guide: "Integration 101".
PIM automates a wide variety of tasks, reducing or even eliminating the need to move between multiple platforms and applications to find the right information. Images and texts can be extracted automatically from the DAM library, reducing time spent in both the creation and publishing processes.
Furthermore, some of the best PIM tools have workflows baked-in that clarify processes, helping to save time, reduce human error, enhance internal and external collaboration, and streamline systems.
Improves the digital customer experience
PIM software helps ensure customers only see the correct, up-to-date product information, across all marketing channels. This reduces order errors, cart abandonment, and customer complaints; thereby increasing customer satisfaction and loyalty, and promoting brand consistency.
The Forrester Wave™ Digital Asset Management for Customer Experience, Q1 2022
Understand the benefits of DAM, how to select a DAM provider, which DAM is right for your business, and get an overview of Bynder and other DAM platforms.
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Bynder partners with Product Experience Manager (PXM) experts Akeneo to help brands worldwide carry out their digital transformation strategies.