The 4 priority areas for optimising your PIM

The expansion of marketplaces, the diversification of sales channels… Over the next few years, the PIM (Product Information Management) will, more than ever, need to adapt to these fundamental trends in e-commerce. These developments have an impact not only on the platform but also on the roles of the people who manage it. These are all challenges that Quable intends to tackle alongside its clients! PIM (Product Information Management) is a collaborative tool that brings together all product information in a single repository, making it easy to enrich this information in the future and then distribute it across all channels.

1. From multi-channel distribution to an omnichannel strategy

In recent years, mobile internet traffic has overtaken that generated by desktop computers. This trend is set to accelerate in the coming years as the number of mobile-accessible interfaces continues to grow: following on from smartphones and tablets, the focus is now on smartwatches, phablets and other connected devices within the IoT (Internet of Things). These are all communication and sales channels that e-retailers must manage in addition to their website and printed catalogue. However, the era of multi-channel retailing – where each platform was managed via a specific system in a siloed manner – is now over. The move is towards omnichannel retailing, i.e. unified yet personalised information across every platform. The cornerstone of this (r)evolution is PIM, which ensures the consistency and reliability of product information across every channel – in-store, on mobile and within the organisation – whilst managing the specific requirements of each device, medium or web service.

2. From connecting to marketplaces to managing data flows

A genuine driver of growth for e-retailers, marketplaces will continue to attract ever-increasing levels of traffic. However, the trend is towards their proliferation, with the creation of marketplaces specialising in a particular product, sector or market segment… Faced with this boom – and the beginnings of sector consolidation, as seen, for example, in the high-tech sector – e-retailers must carefully select the marketplaces to which it is important to connect. Pricing and commissions, potential traffic and the target audience… are obvious selection criteria, but a PIM enables these choices to be refined. It is thus possible to list only certain product ranges on specific marketplaces, at specific times of the year, or in certain countries only…Moving beyond a simple technical gateway, the PIM is becoming a vital tool for e-retailers’ marketing teams.

3. A SaaS PIM to improve responsiveness

Rapidly expanding, SaaS (Software as a Service) offerings are more than just a business model. It is a model that is particularly business-oriented; indeed, the ‘service’ aspect of SaaS makes it possible, to a certain extent, to avoid a lengthy and costly IT project and to gain immediate access to the required functionalities. In a constantly evolving digital landscape, SaaS provides business users with tools that are fully integrated into this ecosystem and always up to date.

SaaS also provides a platform that evolves in line with customers’ stated needs and the latest innovations in the e-commerce ecosystem.

An API, often included in the offering, gives developers complete autonomy in creating and maintaining new applications that utilise product data.

A SaaS-based PIM is therefore a sustainable way of accelerating ‘time to market’ by ensuring product information is easy to update and can then be distributed across all channels.

4. New responsibilities for a ‘Product Information Officer (PIO)’

The primary purpose of a PIM is to centralise, validate, consolidate and streamline product information scattered across the organisation or amongst suppliers. This involves setting up data validation workflows and appointing a ‘Product Information Officer’, whose role is to ensure the quality of product information within the organisation. The PIO’s remit will expand to encompass a greater focus on what is happening online, outside the company. The consequence of an increased presence on marketplaces (and social media) is, in fact, that the e-retailer is exposed to greater competition. Responsiveness regarding prices, promotions and services offered… product information and its constant updating are becoming strategic priorities for marketing departments, making the ‘PIO’ the key to continuously adapting to the market.

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Conclusion

Businesses must adapt to technological developments and the rise of e-commerce. To this end, adopting a high-performance, strategic tool such as PIM is a major asset for boosting your sales and providing up-to-date product information to your customers.