More and more businesses and organizations are seeing the benefits of PIM systems and adopting this technology.
Product information management or PIM is a growing market across the world. The compound annual growth rate of the PIM market is
Where to Find Value in PIM
Product information management systems offer many benefits, and thus, value through those benefits. Consider what happens if your product data is incorrect for any reason. Perhaps you have a frustrated customer who wants to return the product, which means you’re out the cost of shipping and restocking. Maybe they will complain to a friend who won’t buy from your company anymore, which means you’ve lost that earning potential, too. Perhaps inaccurate data leads to a fine because you’re out of regulatory compliance, or you failed to meet a service standard. Having accurate data via a PIM saves you all of those costs.
One more significant area of return for a PIM is the potential to expand your sales and reach customers better. With strong, accurate product data, it’s easier to target customers with specific products, accommodate repeat business, and branch out into new distribution channels. This can give your business the chance to make more sales and build your network.
Because of the ways PIM benefits your business, like improved data accuracy, more productivity, or greater customer reach, it can be tricky to come up with figures for ROI. Our
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