Choosing a PIM solution: 5 things to consider
blogNovember 30, 2022
Do you know how to evaluate PIM solutions? Or which capabilities you need for your business? Here are five things to consider when selecting the right PIM solution for your business.
When it comes to managing the many demands for product content existing today, it’s clear old methods of information silos and internal databases simply don’t cut it. For brands and manufacturers, this means implementing a software solution to meet these growing demands for product data, such as a PIM (product information management) solution.
“The ultimate purpose of PIM is to speed up your time to market, improve all aspects of sales and deliver compelling product experiences across any touchpoint.”Source: Gartner©, Market Guide for Product Information Management Solutions, Helen Grimster, 20 September 2022
But when it comes to choosing the right PIM for business needs, things can get a little tricky – and overwhelming. For example, what capabilities does your business need? And where can you go for some expert, impartial advice? To help you out, here are five things you should consider when choosing a PIM solution.
1. Is PIM right for you?
So, you’re thinking about getting a PIM. But will it be the answer to all your (product content) problems? That depends on what you actually need. After all, there are plenty of software solutions out there, and ensuring you get the right one for your business ambitions is essential if you want to avoid a costly misstep. Here are just some of the options available:
- PIM: product information management
- DAM: digital asset management
- PXM: product experience management
- MDM: master data management
- PDM: product data management
“The PIM solutions available today have matured to a point that they now offer standard capabilities such as digital shelf analytics (DSA), content optimization and generation, previously considered the remit of PXM solutions. What differentiates these vendors today is the additional capabilities they provide.Source: Gartner©, Market Guide for Product Information Management Solutions, Helen Grimster, 20 September 2022
2. Understand a PIM’s core capabilities…
If you’re leaning towards a PIM solution, you’ll want to dive a little deeper into the capabilities it can bring to your business. While no two PIMs are built equal, there are numerous core capabilities that many PIMs offer, and understanding them is a great place to start your PIM research. These core capabilities can bring benefits to various aspects of your operations, from streamlined business process management all the way through to more effective multichannel publishing, for both online and offline audiences.
3. …and the extended ones
As we’ve said, no two PIMs are built equal, and this becomes increasingly obvious once you scratch beyond the core offer of a PIM and start looking at their extended capabilities. These extended capabilities can really make a difference between a PIM that simply meets expectations, and a PIM that goes far beyond them. For example, the inriver PIM offers a number of extended capabilities, such as natural language generation and multimedia product asset management. Our PIM also comes with not one, but two built-in digital shelf analytics solutions: inriver Channel Insights and inriver Evaluate.
4. Research the marketplace
When you’re in need of a new software solution, it’s a good idea to research the marketplace ahead of time so you know exactly what you need to make your decision, and the names you can expect to see when doing so. In their September 2022 Market Guide for Product Information Management Solutions, leading market analyst Gartner recognized 18 PIM Representative Vendors. We believe this highlights the competitiveness of the current PIM market – and the potential challenge you might face when deciding which PIM option is right for you.
5. Get the analyst’s view
You wouldn’t buy a new car without finding out what the experts think of its fuel consumption or performance. The same applies when you’re shopping for a PIM. Luckily, leading market analyst Gartner has all the expert insight you’ll need to make an informed decision when it comes to starting your PIM journey. They regularly publish independent, objective research into the state of play in the PIM marketplace, giving key takeaways and precise recommendations on a number of important topics.
Get complimentary access to Gartner recent Market Guide for Product Information Management Solutions now.
The PIM solutions available today have matured to a point that they now offer standard capabilities such as digital shelf analytics (DSA), content optimization and generation, previously considered the remit of PXM solutions. What differentiates these vendors today is the additional capabilities they provide.Source: Gartner©, Market Guide for Product Information Management Solutions, Helen Grimster, 20 September 2022
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