PIM_whitepaper_Final.pdf
- 1. Drowning in Product Data Complexities? Swim with PIM! A Practical Guide to better Product Information Management
- 2. INTRODUCTION THE CRITICAL ROLE OF PRODUCT INFORMATION CURRENT PRODUCT INFORMATION MANAGEMENT CHALLENGES HOW DOES PIMCORE PIM HELP? WHAT DIFFERENTIATES PIMCORE PIM AND ITS BUSINESS BENEFITS BONUS TIPS CONCLUSION 1 2 3 4 5 6 7 WWW.PIMCORE.COM TABLE OF CONTENT
- 3. WWW.PIMCORE.COM Meeting customer expectations in the new decade means shifting from being “customer focused” to “customer committed.” - Walker Customers now take a multi-stage approach to their shopping activities. If they sense any irregularity in product information, it just takes seconds to change their mind. For instance, a potential buyer likes your product and visits you, but experiences inconsistency in product search results like product descriptions and pricing on different channels. Will he make the immediate buying decision? Maybe, not. This is something an organization cannot afford to ignore it. In today's digital age, it has become more critical than ever before to manage and streamline product information across all channels. This whitepaper discusses how a PIM platform is key to streamline product information, improve experience, and increase sales by balancing the dynamics of omnichannel experience. INTRODUCTION.
- 4. In this digital era, consumers access product information across different touch points and sources. Product information has a decisive influence to power retail brands. It acts like a fine cord that renders not just on the web but also on smartphones, tablets, point-of-sale, stores, and printed catalogues to influence multichannel selling. It has a direct correlation between product quality revelation and conversion, abandonment, returns and more. The quality and timeliness of your product information can make a huge difference between converting and losing a prospect. This means that the product content served at all points of interaction needs to be consistent and accurate. THE CRITICAL ROLE OF PRODUCT INFORMATION Poor product descriptions cited as the 2nd highest cause of cart abandonment. - Shotfarm Study, 2016 WWW.PIMCORE.COM Product T a g s C o l o r s R e v i e w R a t i n g P h o t o s V i d e o s S i z i ng Recommendations Kiosks Social Ecommerce Marketplace Call Center Print Offline Mobile / Tablet
- 5. Product owners are entangled in a maze of processes to meet customers’ growing expectations. Volumes of products are added every day from multiple perspectives or dimensions. Information exchanged across different departments and divisions on daily basis is at all-time high. The problem gets even bigger when an organization deals in various product range across the globe with multiple price lists and promotions running along. With traditional manual processes like spreadsheets, maintaining growing inventory of product information accurately and consistently across different customer-touch points is almost becoming unmanageable. This further increases the risk of the following factors: CURRENT PRODUCT INFORMATION MANAGEMENT CHALLENGES WWW.PIMCORE.COM
- 6. MANAGEMENT CHALLENGES Delayed time-to-market or slower new product introductions/product changes Inability to collaborate across internal and external departments Error-prone and inaccurate product updates Inaccurate orders and increased returns Ineffective product branding and merchandising Inefficient processes, resulting in higher costs Redundant product information Increased customer dissatisfaction due to incomplete, out-of-date, incorrect or inconsistent data across multiple channels Depleted or overstocked inventory These all challenges can simply wreak havoc on any business. Couple that with thousands of suppliers and extensive customer base, the complexity will only increase. Sales could drop, and the organizations could even lose their market share. 1 2 3 4 5 6 7 8 9 WWW.PIMCORE.COM
- 7. HOW DOES PIMCORE PIM PLATFORM HELP? The rising product information management complexity can no longer be managed without reliable systems. This requires a specialized PIM system that can easily handle product information effortlessly and accurately. Pimcore is an end-to-end enterprise digital platform to support any kind of data management and publishing requirements. Pimcore’s product information management capability enables you to maintain flexibility and quality of your master data enhancing your ability to improve relationships and conversion rates with your customers. It provides a central repository for all your product data allowing you to manage and enrich the product information at a single place and thus acts as a single source of truth for all your product information needs. Here are the components that make Pimcore PIM the most powerful open source PIM solutions available in the market. WWW.PIMCORE.COM https://www.pimcore.com/en/products/data-manager/product-information-management/introduction https://www.pimcore.com/en/products/data-manager/product-information-management/introduction
- 8. Ingestion Hub This allows organizations to ingest product data from external sources like flat files (from suppliers/vendors, etc.) or applications like ERP/ CRM systems. Product data can be imported directly from CSV, MS Excel, XML, JSON format, and other file formats support can be easily added through extensions. External applications like ERP can also work as data source. External applications can either use the existing REST API to push content data to Pimcore, or Pimcore can pull the datafrom the same (API call or direct DB connectors through extensions). Ingestion Hub has multiple methods to support these data exchanges– Native PHP API, built-in REST API, and ODBC Database connector extension. WWW.PIMCORE.COM Improve visibility of information across the extended enterprise Reduce errors and processing time Improve collaboration with suppliers Provide extensible, scalable and proven data model for all product information Enrich product information for all enterprise business processes Securely share product information across the enterprise and with trading partners Ensure compliance with regulations and industry mandates such as Global Data Synchronization Lower data management costs BENEFITS OF USING A PIM SOLUTION:
- 9. Pimcore PIM framework has multiple capabilities that offer rich and powerful product information and life cycle man- agement capabilities to multi- ple teams across organizations. Key capabilities include: WWW.PIMCORE.COM Pimcore PIM Solution Framework PRODUCT DATA MANAGEMENT— Pimcore offers rich user interface to manage product data: Spread sheet view. Bulk update. Transform data. Enrichment. Localization. Export/Import. Meta data/properties and tags. Scheduled publishing. Multi-stage product life cycle management. Audit trail. Data quality management. DATA MODELING— Pimcore offers a highly flexible data modeling capability from simple data structure to highly complex multi-dimensional data view: Multiple Data types. Advanced data structures. Custom views. CENTRALIZED DIGITAL ASSETS— Pimcore offers a centralized digital asset management component that allows organizations to manage all their digital assets at once central place, including: Support multiple formats. Supports transcoding videos from any format to MP4 format. Cloud storage support. Online edit. Reusability and central control for digital assets.
- 10. Syndication Pimcore offers a flexible and extendable syndication capability that allows organizations to make the product data be available to channel partners and marketplaces. Pimcore also allows configuring the data view as per the requirements of each of the channel application. Pimcore facilitates this by offering powerful syndication components like REST API, Native API and content export in multiple formats like CSV, XML, JSON and PDF. Flexible Deployment Model Pimcore supports any deployment model – on-premise, cloud, or hybrid. It offers full DevOps control to organizations with support for multiple CI/CD tools allowing organizations to seamlessly integrate Pimcore with internal IT management processes. Security Framework Pimcore fully supports encryption at rest (through native storage volume and/or database encryption) and transit (HTTP over SSL). It is designed to support other regulatory compliances as well like PCI. Scalability and Performance Pimcore is designed with scalability and performance in mind. Pimcore is architected to run in stateless mode without any dependence on the application server it is deployed on. This allows operations team to configure the deployment environment to horizontally scale-up with growing demands, or scale down when demand goes down without compromising users experience. It is also designed for performance and fully supports multiple caching backends like Memcached, Redis, or cloud caching services like Elastic cache. It also supports native File system based cache in case external caching services are unavailable, or cannot be provisioned. Additionally, it can be easily integrated with CDN services like Akamai or Cloudfront for web content delivery optimization. WWW.PIMCORE.COM
- 11. WHAT DIFFERENTIATES PIMCORE PIM Pimcore PIM/MDM places data management at the core of digital experience management and can integrate, consolidate, and manage any type and any amount of digital data. It is multi-domain and multi-vector and delivers powerful control over a wide range of data assets - including product, customer, and vendor information, across different organizations and industries. Business Benefits WWW.PIMCORE.COM Consolidate Information Scattered and siloed product information with poor quality is a big threat to business growth. Pimcore PIM/MDM has significantly addressed this problem. It enables you to create a single source of truth by consolidating digital data of any type and amount and uniquely creating master record. This flexible solution provides all needed applications and services to consolidate, enrich, translate and manage digital product information and various other assets such as customer data, vendor data and digital assets. It makes easy to increase process efficiency and make the most of your digital data.
- 12. WWW.PIMCORE.COM Decrease Time-To-Market Customer expectations are all time high. Organizations have to be agile and adapt the market trend faster. Pimcore Data Manager and Pimcore Experience Manager together provide the unique capability to manage any digital data and distribute this data across any channel and device. This simplifies your product information management process and significantly reduces time-to-market. All this leads to enriched customer experience. Enable Omni-Channel Capability Omnichannel war is getting intense every passing day. It is now prerequisite to win more customers. But, omnichannel success depends upon how efficiently you deliver your product information to multiple channels in multiple formats, quality standards and with different product attributes. Pimcore PIM solution makes it lighting fast to ensure your digital data is seamlessly distributed across digital channels, such as web, mobile, app, marketplace, POS, digital signage and social. You don’t have to shed sweat again and again to make the omnichannel impact.
- 13. BONUS TIPS: BUYING CONSIDERATIONS FOR PIM SOFTWARE Pimcore PIM/MDM places data man- agement at the core of digital experi- ence management and can integrate, consolidate, and manage any type and any amount of digital data. It is multi-domain and multi-vector and delivers powerful control over a wide range of data assets - including prod- uct, customer, and vendor informa- tion, across different organizations and industries. WWW.PIMCORE.COM Define overall business goals/needs Know the time and resources required Take care of product data quality Scope of configurability and scalability as your business grows Ensure product information is secure and uncompromised
- 14. Try a Free Pimcore Demo Customers are at the center of everything. They expect rich and consistent product information at every step of their journey. So, every measure of optimizing the product information asset goes directly to the business bottom line including increasing interaction of customers and partners, providing superior customer experience and driving overall growth. Thus, evaluate the accessibility and capability of your PIM platform and analyze what PIM capability you need and what you don’t need. This will help you better integrate PIM to manage product information throughout the customer journey and drive business success at scale. CONCLUSION https://www.pimcore.com/en/try
- 15. 4.4 out of 5 • Founded in 2013 • 120+ solution partners such as Infosys, Arvato Systems and many digital agencies and system integrators • 100+ enterprise customers such as Audi, Pepsi, Dr Oetker, Yamaha pimcore GmbH Söllheimerstraße 16 Gusswerk 6 Salzburg, Austria +43 662 876606 230 info@pimcore.com WWW.PIMCORE.COM ABOUT PIMCORE GET IN TOUCH 4.9 out of 5 5 out of 5 Cool Vendor for PIM & E-Commerce MarketScape PIM for Commerce 2019–2020 PIM Vendor Landscape, Now Tech Report: Digital Experience Platforms