The Market For PIM Solutions
PIM is still a young market segment. It only started gaining broader attention among customers in the second half of 2004, as market analysts and the media began taking a closer look at this type of solution.
PIM solutions are most relevant for use by medium to large-sized firms in retailing, consumer goods and manufacturing. The following are the primary considerations in opting for a PIM solution:
- wide array of products
- frequently changing product characteristics
- non-uniform IT infrastructure (potentially resulting from merger activity)
- successful online business
- customer pressure to offer electronic ordering
PIM becomes strategically necessary when major customers start demanding that new data sharing standards (such as global data synchronization) be supported, in conjunction with an international expansion strategy. The effective consolidation of product information and reconfiguration of processes built thereupon is however critical for a successful strategic business outcome. A distributor of catalogs, for example, looking to expand into five new countries without having to realign its catalog production processes will probably be unable to execute on such a strategy.
PIM becomes essential when integrating with SaaS vendors. Keeping the core product classification consistent throughout a workflow involving multiple SaaS partners supports the core SaaS proposition of rapid to market, cost effective solutions.
Read more about this topic: Product Information Management
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