PIM Introduction

pim intro

Brief Overview

North American manufacturers and businesses have recognized the value of their product information early on. Thus, the businesses adopted product information management (PIM) software early and now dominate the world’s PIM revenue share. However, companies in rising economies are realizing this and catching up to their American counterparts. Researchers expect the global PIM markets to grow with a CAGR of 16.7% between 2024 and 2030.

Key Benefits

  • Data Import: Import product data from various systems.
  • Centralize all data: Set a standard source format for all product data.
  • Setup data governance: Align data to a single source of truth.
  • Differentiate data: Create specific versions of data for every target system.
  • Synchronize/Distribute: Continuously sync these versions with internal and external channels in their native format.

What is Product Information Management (PIM)?

Product information management (PIM) manages all the information related to the product that helps market and sell products through any distribution channels. The distribution channels for PIM can include websites, e-commerce portals, channel partners, governments, and other marketplaces. The information for a PIM system can consist of:

Multi-lingual TextsProduct IdentifiersUser Manuals
Text DescriptionsProduct RelationsVariants
Brand IdentifiersProduct ImagesVideos
CAD FilesMeta TagsUSPs
Table: Key data types captured by PIM System

PIM is a system for publishers of product data, such as an OEM (original equipment manufacturer), ODM (original design manufacturer), brand owner, retailer (including e-commerce), or independent knowledge creator. The PIM system will define the taxonomy and environments of the product type.

PIM can integrate with the organization’s existing systems and capture structured and unstructured data. After collecting the data, the system can store it in the defined taxonomies and environments. PIM works on defined policies and validation rules for this data validation and storage.

Advanced PIM systems provide a flexible taxonomy framework based on local, domain-specific, and multi-lingual data models. As a core function of the PIM system, it defines the units (cm, CC, inches, etc.) of specifications, conversion rules, and spec value tables.

Synonyms for PIM

  • The term PIM is often alternated with PDM (Product Data Management). The difference between “data” and “information” defines which teams can use which terms. However, such classifications extend to different aspects of PIM. For example, the product relationship information can be called “knowledge,” thus creating a PKM (product knowledge management) system.
  • Industry also uses other synonyms for PIM, such as product content (or catalog) management (PCM), product resource management (PRM), enterprise content management (ECM), etc. However, enterprise users usually expect PIM to store the information and disseminate it to other platforms in their respective formats.

Core Components of PIM Software

PIM is a modular system consisting of multiple subsystems. These subsystems enable different features and capabilities within a PIM system. Some of them have been around much earlier than PIM. However, PIM forms a meaningful portfolio of these subsystems to create a more valuable enterprise system:

Digital Asset Management (DAM)

Digital assets refer to media files such as PDF, images, and video format files. DAM is usually a tiny part of a more extensive PIM system. However, a separate DAM is better if the primary goal is to manage a lot of metadata (e.g., face/object recognition).

Digital Rights Management (DRM)

Digital rights management ensures read and write access to correct data. For instance, marketing may have read access to all product data, but only the respective product teams have write access to it.

Content Management System (CMS)

A CMS handles a broader variety of data than a PIM system. However, CMS is valuable for producing product information from a PIM to the enterprise website or e-commerce portal.

Product Lifecycle Management (PLM)

PLM contains a lot of data about the entire life of a product from inception to launch and end-of-life (EOL) status. Much of this data will never be available to the public, but some information is critical for buyers, especially in the B2B setting. Thus, the PIM can collect and publish market essential info about the product from PLM.

Master Data Management (MDM)

Master data refers to the single source of truth or the authentic version of product data. PIM system contains this information about all products and may collect inventory and price information from ERP to publish on the e-commerce portal. MDM and PKM can enable a self-service portal for the enterprise.

Vendor or Supplier Central

Enterprises can open their PIM environment to the vendors or suppliers. Integrating the vendor’s ERP or PIM system through APIs allows for seamless and automated data updates.

How Does PIM Software Work?

pim-work-flow
  • Step 1
    Integration with existing data sources, i.e., ERP systems, CAD systems, Office documentation software, e-mail servers, CRM, and vendor management systems.
  • Step 2
    Data is cleaned, duplicate data is removed, and different versions are identified and organized.
  • Step 3
    People across the organization receive access to the data per their roles. For example, product managers will receive read-and-write access to the products they are responsible for.
  • Step 4
    The PIM system can identify gaps in product data, and responsible teams can fill these gaps with correct data. Teams can also add missing attributes and tags to their respective data.
  • Step 5
    The system validates the new data based on the set policies and rules. The system will accept the data that adheres to the policies and send other data for correction or approval.
  • Step 6
    The PIM can also establish standard workflows for repeated tasks such as approvals, inputs, and other task management. This will automate all such tasks in the future, saving valuable time for all stakeholders.
  • Step 7
    Teams can add localization data to the product attributes to make it usable for the regional markets. This stage includes both regional language tags and compliance-related attributes.
  • Step 8
    Finally, the system readies the data for sharing or export to other systems and teams. External systems can include CMS, e-commerce portals, catalogs, channel partners, and regional sales teams.

Why Do Businesses Need a PIM System?

Businesses need PIM software to streamline product information management, enhance customer experience, scale efficiently, improve collaboration, and ensure compliance. PIM can help businesses maintain a competitive edge in today’s market:

Superior Data Quality & Value

  • Eliminate Data Silos: 74% of companies report that managing data across multiple systems is a significant challenge. PIM software centralizes product information, making it accessible and consistent across all channels.
  • Improved Data Quality: Businesses with PIM see a 30% error reduction related to product information. Thus, enjoy the benefits of a more accurate and reliable data.
superior-data
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“According to Gartner, companies that implement PIM systems report a 20-25% increase in eCommerce conversion rates due to improved product data quality.”

customer-experience

Enhanced Customer Experience

  • Consistency Across Channels: A consistent product experience across channels can increase brand loyalty by up to 60%. PIM ensures that customers receive uniform and accurate product information, regardless of where they interact with your brand.
  • Faster Time-to-Market: Companies using PIM can reduce their time-to-market by up to 50%. By streamlining the product information workflow, businesses can quickly launch products and updates, staying ahead of competitors.
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“Forrester states that 50% of B2B customers will likely switch vendors if product information is inconsistent across channels, highlighting the importance of accurate and consistent data.”

Scalability and Efficiency

  • Support for Growth: As product catalogs expand, manually managing data becomes increasingly complex. PIM solutions are scalable, supporting the growth of your product range without adding complexity or errors.
  • Productivity Boost: On average, businesses using PIM experience a 25% increase in productivity due to automation and streamlined processes. This allows teams to focus on strategic tasks rather than repeated data management.
Scalability-efficiency
improved-collaboration

Improved Collaboration

  • Cross-Departmental Collaboration: PIM systems enable different departments, from marketing to logistics, to collaborate effectively by accessing the same, up-to-date product data. This seamless access reduces miscommunication and ensures everyone is on the same page.
  • Faster Decision-Making: Businesses can make informed decisions more quickly with centralized and accurate data. Studies show that companies with PIM systems make product-related decisions 30% faster than those without.

Compliance and Risk Management

  • Meeting Regulatory Standards: In industries like healthcare and electronics, compliance with regulations is critical. PIM software helps ensure that product information meets industry standards and legal requirements, reducing non-compliance risk.
  • Data Security: PIM software provides robust security features to protect sensitive product information amid growing concerns about data breaches.
compliance-risk
FeaturesOpen-Source PIMCloud-Based (SaaS) PIMOn-Premises PIMMultidomain PIMVertical-Specific PIM
CustomizationHighModerateHighHighModerate
DeploymentOn-premises or cloudCloudOn-premisesOn-premises or cloudCloud or on-premises
Data ControlFullLimited (provider managed)FullFullModerate to full
ScalabilityDepends on infrastructureHigh (scalable with demand)Depends on infrastructureHighModerate
Industry FocusGeneralGeneralGeneralGeneralSpecific (e.g., fashion, retail)
Integration CapabilitiesExtensive, requires developmentExtensive, often plug-and-playExtensive, requires IT supportExtensive, across multiple domainsModerate, industry-specific
CostFree (excluding development costs)Subscription-based, flexible pricingHigh initial cost, ongoing expensesHighVaries (usually industry-dependent)
MaintenanceRequires in-house teamManaged by providerRequires in-house teamManaged by provider or in-houseVaries (managed or in-house)
SecurityDepends on implementationManaged by provider, regular updatesHigh, managed internallyHighVaries (depends on deployment)
Community SupportStrong (community-driven)Provider-drivenLimited, vendor supportVendor-drivenLimited, specialized support
Time-to-MarketModerate (development required)FastSlow (requires setup)ModerateFast
Workflow ManagementCustomizableStandardized, with optionsCustomizableExtensive, across domainsTailored to industry workflows
Multi-Channel DistributionCustomizableStandardized, with optionsCustomizableExtensiveTailored to industry channels
Analytics and ReportingDepends on implementationBuilt-in, with customization optionsCustomizableExtensive, cross-domain reportingIndustry-specific reporting
Regulatory ComplianceRequires customizationManaged by the provider, standardizedCustomizableCross-domain compliance featuresTailored to industry regulations
Table: Different Types of PIM Systems & their Key Features

Different Types of PIM Systems

You can explore various types of Product Information Management (PIM) systems to address specific business needs and use cases. The correct PIM system choice depends on your company’s size, industry, IT resources, and data management needs.

Here’s a breakdown of the different types of PIM systems and how they differ from each other:

open-pim-systems

1. Open-Source PIM Systems

Open-source PIM systems are customizable platforms where the source code is available for modification. They offer flexibility for businesses that require a tailored solution.

    Key Features

  • Highly customizable with access to source code
  • Considerable community support and plugins/extensions
  • Usually free to use, with costs associated with development and maintenance
Examples: Akeneo, Pimcore
Ideal For: Companies with in-house development teams that need a tailored, flexible, and cost-effective solution.
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Difference: Open-source PIM systems offer unparalleled customization and control but require technical expertise to implement and maintain.

2. Cloud-Based PIM Systems (SaaS)

Cloud-based or Software-as-a-Service (SaaS) PIM systems are hosted online and accessed via the Internet. They provide ease of use, scalability, and regular updates without the need for extensive IT resources.

    Key Features

  • Accessible from anywhere with internet access
  • The provider handles automatic updates and maintenance
  • Scalable with flexible pricing models (subscription-based)
Examples: Salsify, inRiver, ProductHub
Ideal For: Businesses that want a hassle-free, scalable solution with lower upfront costs. Usually ones that don’t want to manage the infrastructure.
cloud-based-pim-systems
info

Difference: SaaS PIM systems are easy to deploy and manage, with predictable costs and automatic updates. However, they offer less customization than open-source solutions.

premise-pim-systems

3. On-Premise PIM Systems

On-premise PIM systems are installed and run on the company’s servers. They provide complete control over data and infrastructure, often preferred by enterprises with strict data security requirements.

    Key Features

  • Complete control over data and infrastructure
  • Higher security and compliance capabilities
  • One-time purchase cost, but ongoing maintenance is required
Examples: EnterWorks, Informatica
Ideal For: Large enterprises or businesses in highly regulated industries that require complete control over their data and infrastructure.
info

Difference: On-premise PIM systems offer maximum control and security but have a higher cost and need internal IT support.

4. Multidomain PIM Systems

Multidomain PIM systems manage multiple master data domains (e.g., product, customer, supplier) within a single platform. They provide a unified view of all data across the organization.

    Key Features

  • Supports multiple domains of data beyond product information
  • Provides a holistic view of data across the organization
  • Complex integration capabilities with other enterprise systems
Examples: Stibo Systems, Riversand, ProductHub
Ideal For: Large organizations must manage complex data across various domains, not just product information.
compliance-risk
info

Difference: Multidomain PIM systems are comprehensive and can handle more than just product data. They are suitable for large organizations with complex data management needs.

improved-collaboration

5. Vertical-Specific PIM Systems

These PIM systems are tailored to specific industries. They offer features and templates for particular verticals like fashion, electronics, or FMCG.

    Key Features

  • Industry-specific templates and data models
  • Pre-configured workflows and attributes relevant to the industry
  • Specialized reporting and analytics for the vertical
Examples: StyleShoots (fashion), Akeno (retail)
Ideal For: Businesses within a specific industry require tailored features and workflows aligned with their sector’s needs.
info

Difference: Vertical-specific PIM systems provide industry-focused, out-of-the-box features, reducing the need for customization but limiting flexibility across industries.

Key Differences

Customization

Open-source systems offer maximum customization. SaaS and vertical-specific PIM systems offer less but are more accessible to deploy.

Deployment Model

On-premise systems provide total control but require internal resources. However, cloud-based systems offer easy use with automatic updates and scalability.

Scope of Data Management

Multidomain systems handle multiple data types across the organization, whereas traditional PIM systems focus primarily on product information.

Industry Focus

Vertical-specific PIM systems are designed for specific industries, providing tailored features. Whereas generic PIM systems cater to a broader audience.

SaaS PIM for B2B Manufacturers

Neurologik’s ProductHub is a cloud-based PIM system addressing the need for product information management for B2B manufacturers. ProductHub offers a product data management environment to capture, enrich, and distribute product data across internal and external teams.

The PIM platform enables real-time collaboration and secure access to the unified product data across the supply chain. Dig deeper into how ProductHub provides the ground for an unbeatable competitive advantage for your organization.

Key Features & Capabilities of ProductHub

Content OnboardingData QualityCost Efficiency
Content GovernanceUser ExperiencePartner Integration
Content EnrichmentMarket AdaptabilityGlobal Operations
Distribution ChannelsComplianceProduct Configuration
Search & Filtering
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Integration Capabilities of Neurologik’s PIM Systems

Custom API integration facility
Integrate with Third-Party Applications
cad-systems

CAD Systems

sap-erp

SAP ERP

oracle-erp

Oracle ERP

microsoft-excel

Microsoft Excel

crm

CRM

website

Website

Pricing for Neurologik PIM

Neurologik’s ProductHub is a modular SaaS PIM solution, and enterprise pricing can vary based on several factors. You can connect with the business consulting team at Neurologik to discover the custom pricing for your business.

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Frequently Asked Questions

Product Information Management (PIM) benefits marketing, sales, e-commerce, and product management teams. It provides accurate, centralized product data, leading to consistent branding, faster time-to-market, and improved customer experiences. IT teams benefit from simplified data management and integration, while supply chain and logistics teams enjoy enhanced efficiency. Customers gain access to reliable product information, improving their shopping experience. Retailers and distributors also benefit from consistent, up-to-date product data across all channels.
Implementing PIM software streamlines product data management, ensuring accuracy and consistency across all channels. PIM for manufacturers accelerates time-to-market, improves collaboration between teams, and enhances the customer experience with reliable, detailed product information. SaaS PIM software also supports scalability, efficiently handling expanding product catalogs. PIM system reduces errors and compliance risks, boosting sales and strengthening relationships with distributors and partners.
Neurologik’s PIM platforms store the data on their cloud servers for easy and global accessibility. The NLK’s SaaS PIM software serves data using GraphQL as a JSON RPC response.
You don’t need extensive IT skills to use most PIM software, especially cloud-based (SaaS) solutions designed for user-friendliness. Basic technical knowledge is helpful, but many systems offer intuitive interfaces, guided setups, and customer support. However, IT support might be necessary for more complex customizations or on-premises installations.
PIM software centralizes product data, ensuring accuracy and consistency across all channels. It streamlines workflows, accelerates time-to-market, and enhances collaboration between teams. PIM system also reduces errors, supports scalability for accommodating more products, and improves customer experience. Additionally, it simplifies compliance with regulations and integrates seamlessly with existing systems, boosting efficiency and driving sales.
PIM software integrates with other systems through APIs, connectors, and data import/export tools. It connects seamlessly with ERP, CRM, e-commerce platforms, and marketing automation systems. SaaS PIM providers like Neurologik also support custom integration demands with third-party platforms. This type of integration ensures consistent, up-to-date information across all channels. It also enhances workflow automation, and supports unified data management. SaaS PIM can also adapt to different data formats, easily importing, exporting, and sharing information with external partners.
You should look for the following critical features while choosing the best PIM software:
  • Centralized data management
  • Multi-channel distribution
  • Integration with ERP, CRM, and e-commerce systems
  • Data enrichment and standardization
  • Customizable workflows
  • Scalability to grow with your catalog
  • Localization and translation support
  • Robust analytics and reporting
  • User-friendly interface
  • Data security and compliance