Best Practices for Implementing a Product Information Management (PIM) System
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The document outlines best practices for implementing a Product Information Management (PIM) system, highlighting the need for high-quality product content due to changing consumer preferences and the increasing shift towards online shopping. It emphasizes that successful PIM solutions streamline content management across various channels, boosting sales and improving brand consistency. Key features of effective PIM include efficient content creation, distribution capabilities, and integrations with other systems to enhance operational efficiency.
![Focus on how - not just what
“Enterprise integration charts
are often amorphous, ill-
defined, and say nothing
about how such integrations
will actually happen…”
“[What’s holding
organizations back] …is ill-
defined integrations, that
were set up without proper
consideration of the how
rather than just the what.”
- Theresa Regli, Real Story Group blog, 4/18/2016](https://image.slidesharecdn.com/pimwebinarslideshare-160531160209/85/Best-Practices-for-Implementing-a-Product-Information-Management-PIM-System-32-320.jpg)
Best Practices for Implementing a Product Information Management (PIM) System
- 1. WEBINAR Best Practices for Implementing a Product Information Management (PIM) System Co-sponsored by:
- 2. About Nuxeo An Elegant Platform for Rich Content Management Common Use Cases • Digital Asset Management • Media Asset Management • Document Management • Case Management Designed by developers for developers, the Nuxeo Platform is a highly customizable and extensible content management platform for building business applications. Trusted by Leading Organizations
- 3. Vik Gundoju - StrikeTru Vik is an experienced technology and operations management professional and a Partner at StrikeTru. His interests include Product Information Management Strategy, Enterprise Information and Data Architecture, Master Data Management and Content Management solutions. Speakers Michael Urbonas – Nuxeo Michael Urbonas, Director of Product Marketing, is responsible for Nuxeo’s product messaging and positioning, including creating content and tools that convey the unique functionality and business value of the Nuxeo Platform. Mike believes strongly in the power of enterprise information and analytics to foster business transformation.
- 4. www.striketru.com | Co-Branded Partner Webinar Best Practices for Implementing a Product Information Management (PIM) System 4 2016 | Strictly Confidential
- 5. www.striketru.com | 5 Executive Summary • Consumer preferences changing dramatically • Increasingly comfortable researching and buying online • High quality product content speeds a consumer’s path to purchase • Bad content harms the brand, raises costs, and leads to lost sales • Legacy systems and content processes involve high cost and complexity in sharing great content with customers and partners • PIM tools transform legacy operations, & deliver quality content consistently • Successful PIM solutions focus on collecting & managing content and assets from multiple sources, and distributing it efficiently to customers and partners
- 6. www.striketru.com | 6 Consumer preferences changing dramatically Millennials: § Will be 50% of the workforce by 2020 § Are picky about how they’re marketed to • Want interaction, and highly relevant advertising only – on their devices! • Internet & social media: critical tools for research and buying Source: The American Furniture Industry: An ABTV Industry Watch Report, October 2014
- 7. www.striketru.com | 7 Increased comfort online: Content matters • 69% of US internet users shop online regularly1 • Across product categories, channels, and devices • Want easy access to high quality, consistent content • Content greatly influences buying decision2 • 71% rely on titles, descriptions, digital assets, etc.2 • 82% consult phones when shopping in a store3 • 33% bought from a different brand based on content received on demand3 1 Online retail sales to top $480 billion by 2019, Forrester, April 2015 2 Polishing Up Your Products — Why PIM Really Matters, Forrester, Nov 2014 3 Winning Omni-Channel Shoppers in Their Micro-Moments, Google, Oct 2015
- 8. www.striketru.com | 8 Great content drives traffic and sales • Strong digital presence ensures shoppers find and consider you • Over 50% begin research on digital channels vs 7% at physical stores1 • eCommerce and digital marketing tools perform great with rich content • Content rich product pages drive higher traffic and conversion • Better titles and descriptions led to 50%-70% more ad impressions2 • High quality content feed to Google led to an 8.1% conversion lift at Speakman3 • Also impacts AOVs, stickiness, profitability, return, abandonment rates 1 Polishing Up Your Products — Why PIM Really Matters, Forrester, Nov 2014 2 Google Internal Data 2015 - experimental data for product ads over multi-month period 3 Salsify Case Study, Dec 2015
- 9. www.striketru.com | 9 Barriers to publishing great content
- 10. www.striketru.com | 10 Lost sales, higher costs, brand inconsistency 20-25 people and 8 different systems involved in servicing a retailer request for product data 30-50% of =me spent compiling & publishing product data is redundant & wasted Takes us 5 =mes longer than peers to roll out products Same product branded 5 different ways across our print and web channels Lost sales because we let 3rd par=es define our presence on Amazon 1 A.T. Kearney, GMA, AMR Quotes: Riversand & StrikeTru Engagements 3.5% of sales lost/year due to supply chain informa=onal inefficiencies1 30% of data in product catalogs is bad1 25 minutes/ item/ year spent manually cleansing bad data1 4 weeks on average to introduce new products1
- 11. www.striketru.com | 11 Invest in PIM for better content and process
- 12. www.striketru.com | 12 The value of PIM Other Benefits BeOer Repor=ng Fewer Returns and Reconcilia=ons Fewer Calls to Call Centers More Selling Time Strong Digital Presence Higher Sales Lower Opera8ng Costs High Quality, Consistent Content Faster Product Releases More Selling Channels Fewer Systems & Resources
- 13. www.striketru.com |13 Top PIM Use Cases By Industry Manufacturer Distributor ■ Efficient content creation and distribution ■ Digital asset & collateral management ■ Distributor portal (to share data and assets) ■ Individual retailer requirement management ■ Web & Print publishing ■ Integrations: ERP, PLM,WMS,WCM, Industry Data Warehouses, Content Syndication platforms, eCommerce & Digital Marketing platforms, Regulatory authorities (e.g. FDA submission for medical device firms) Retailer ■ Efficient content aggregation, cleansing, enrichment, and distribution ■ Digital asset & collateral management ■ Product relationship management (cross/up sell, kits, bundles, etc.) ■ Supplier portal (to source supplier product data and assets) ■ Omni-channel commerce support (cross channel consistency) ■ Drop ship, eCom & digital initiatives, reseller & social media enablement ■ Integrations: ERP,WMS, BI, POS, eCommerce & Digital Marketing platforms ■ Product line expansion ■ Similar to Retailer use cases ■ Customer service improvements ■ Print Publishing
- 14. www.striketru.com |14 Top PIM Use Cases By Business Function Marketing Buyer / Product Manager ■ Add marketing copy, SEO metadata, translations ■ Add digital assets, and collateral, and link them to products ■ Approve automatically generated titles and descriptions ■ Automate content and asset distribution to all channels ■ Setup product relationships (e.g. cross/up sells) ■ Setup custom catalogs, automate web & print publishing ■ Collaborate with 3rd parties (agencies, translators, etc.) on PIM platform ■ Pre-launch product setup ■ Product IDs, pricing, descriptions, categories, reference materials ■ Other attribute values, product relationships (cross/upsells) Finance ■ Drive pricing strategies & competitive analysis via better reporting ■ Retire legacy or in-house product data systems ■ Avoid prohibitive costs and delays by not building a PIM in-house IT ■ Simplify product data flow by integrating multiple systems ■ Enable digital and other initiatives by rolling out scalable PIM solutions Governance ■ Develop data structures for content management ■ Set content policies and rules, help transform content processes
- 15. www.striketru.com |15 Key Enterprise PIM Features Data Management ■ Product variants, categories, attributes, relationships ■ Reference data, channel specific content, localized content ■ Datatype, LOV, and other validations ■ Search, saved search, bulk edit, and quick export ■ Auto content generation (Titles, Descriptions, URLs, etc.) Integrations, Portals ■ Flexible integration capabilities – file & services based ■ Full/delta exports, multiple formats – CSV, XLS, XML, etc. ■ Connectors to Industry Data Pools and Digital Platforms ■ Support for Supplier Portal, Distributor Portal Workflow, Security ■ Robust workflow capabilities with notifications ■ Single and bulk workflow approvals/rejections ■ Security by data elements and by feature – e.g. at category, attribute, bulk edit, import, export levels. Print, Translation ■ Print catalog automation ■ Web based catalog setup in PIM, creative design in InDesign ■ Translation automation, translation memory Digital Asset Management ■ Images, videos, URLs, ■ Asset on-boarding, transformation, and delivery to channels ■ Linking to products
- 16. www.striketru.com | 16 Best Practices for Implementing a PIM System Develop a PIM Strategy1 Implement PIM Solution 3 ■ Develop a vision and strategy for PIM ■ Secure executive sponsorship ■ Align Business and IT Develop Implementation Roadmap 2 ■ Assess product content management needs ■ Identify implementation scope and roadmap ■ Implement in phases – select a high impact channel for Phase 1 ■ Pick a flexible platform that supports industry best practices ■ Pick an experienced & capable partner that can make you successful ■ Assign the right resources, ensure they’re available for the project ■ Implement Phase 1. Build on it & deliver overall solution in chunks ■ Manage change pro-actively
- 17. www.striketru.com | 17 Thank You Vikram (Vik) Gundoju vikram.gundoju@striketru.com StrikeTru 832-303-3257 www.striketru.com
- 18. Key Functionality for Product Information Management Adding content to your applications Michael Urbonas Director of Product Marketing
- 19. The three key purposes of PIM Ensure the quality and integrity of product data Allow business users to manage and orchestrate product data with its associated content (copy, images, video, audio) Act as a hub between content management, eCommerce, digital asset management and ERP systems
- 20. The three key purposes of PIM Ensure the quality and integrity of product data Allow business users to manage and orchestrate product data with its associated content (copy, images, video, audio) Act as a hub between content management, eCommerce, digital asset management and ERP systems
- 21. The three key purposes of PIM Ensure the quality and integrity of product data Allow business users to manage and orchestrate product data with its associated content (copy, images, video, audio) Act as a hub between content management, eCommerce, digital asset management and ERP systems - Michele Goetz and Peter Sheldon, Forrester Research, 06/05/2014
- 23. Next-gen content repository Not just “files”… Intelligent, rich content objects: SimpleFile.pdf
- 24. Next-gen content repository Not just “files”… Intelligent, rich content objects: SimpleFile.pdf Creation date 2016-05-02 Modification date 2016-05-03 Created by Rachel Contributors Sarah, Carmen Lifecycle state Valid Product ID 7200 Product Desc Raspberry Iced Tea File: Access Controls … SimpleFile.pdf
- 25. Next-gen content repository Not just “files”… Intelligent, rich content objects: SimpleFile.pdf Creation date 2016-05-02 Modification date 2016-05-03 Created by Rachel Contributors Sarah, Carmen Lifecycle state Valid Product ID 7200 Product Desc Raspberry Iced Tea File: Access Controls …
- 26. Next-gen content repository Creation date 2016-05-02 Modification date 2016-05-03 Created by Rachel Contributors Sarah, Carmen Lifecycle state Valid Product ID 7200 Product Desc Raspberry Iced Tea File Version 0.1 Access Controls … Schema-flexible content model Define and manage complex metadata structures Built-in lifecycle service Highly scalable vertically and horizontally
- 27. Workflow & Content automation Visual workflow designer (Nuxeo Studio) Apply custom business logic Dynamic validation steps Workflow escalation rules
- 28. Advanced Query Engine Powered by Elasticsearch for excellent search query performance and massive scalability Full text search and search capabilities available for advanced applications Built-in visual analysis toolkit using Elasticsearch aggregations
- 29. Web Application UIs/Publishing Custom application UIs, based on role, group, etc. • Limits user content access and user actions Centrally control and publish select content to… • Remote Nuxeo applications • File systems • HTTP servers • Web portals (etc.)
- 30. Flexible REST API Fully dynamic – for the same flexibility and extensibility of Nuxeo Platform itself Fully composable - enabling developers to specify the assembly of API calls in desired combinations and level of granularity as required
- 31. Focus on how - not just what - Theresa Regli, Real Story Group blog, 4/18/2016 “Enterprise integration charts are often amorphous, ill- defined, and say nothing about how such integrations will actually happen…”
- 32. Focus on how - not just what “Enterprise integration charts are often amorphous, ill- defined, and say nothing about how such integrations will actually happen…” “[What’s holding organizations back] …is ill- defined integrations, that were set up without proper consideration of the how rather than just the what.” - Theresa Regli, Real Story Group blog, 4/18/2016
- 33. Vik Gundoju Partner StrikeTru vikram.gundoju@striketru.com www.striketru.com Thank You! Michael Urbonas Director, Product Marketing Nuxeo murbonas@nuxeo.com www.nuxeo.com For more information: www.nuxeo.com/pim