Archive for November, 2020

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The Rise of the PIM Vendor

November 16, 2020

PIM pivotal 

Hot Air Balloon

Forrester’s recent Market Snapshot announced that it is time to consider PIM as pivotal to a successful digital experience strategy and that the PIM vendor landscape is in transition to meet CX needs. Solutions to manage product data are undergoing a transformation, driven by the impact of PIM on CX, scale of products and proliferation of touchpoints.

channelcentral met with Pimberly, a UK-based Product Information Management (PIM) Vendor last year. Multi-vendor sellers have to manage huge volumes of product data in a variety of different formats, connecting to multiple, non-standard systems. PIM Vendors not only normalize the data but also offer merchandizing and demand shaping functions to help improve the Customer Experience (CX).

Product data fuels CX

Many poor B2B Customer Experiences are due to insufficient or low-quality data integrated into the buying process. The product data exists but may be spread across multiple systems or stored in non-user-friendly format. Forrester emphasizes that product data fuels CX.1 channelcentral considers a project to consolidate and automate data sources as fundamental in ensuring that capabilities can be added, and error removed. An example leading to poor CX could be displaying a different inventory level in eCommerce to the one shown in CPQ. Businesses should identify the best (Golden) data sources and real-time delivery mechanisms.

Vendors aim to offer a consistent CX, regardless of where the product or service purchase is made in the omnichannel.  For a relevant product category, well applied PIM can significantly enhance the buying journey when coupled with Digital Asset Management (DAM).  Forrester stresses the importance of DAM and PIM collaborating to form compelling content for B2B buyers, recommending the integration to improve the omnichannel experience.

Adding value

Web Services play a huge role now, turning data from Enterprise Resource Planning (ERP) systems into the dynamic data required by eCommerce and CPQ Systems. Expecting Product Managers to run reports or upload spreadsheets manually is not scalable. PIM vendors recognize this opportunity and in multi-vendor situations, where there is often more than one available data source (e.g. Vendor or Icecat), allowing eCommerce Store or CPQ stakeholders to set Golden sources per vendor or product line.

Watch the summary video here: