Malik Azeez, Paradigm Technology’s Director of Product Information Management was asked about the fundamentals of PIM. In this short Q&A format, he lends his knowledge to answer some basic questions surrounding the processes and tools that comprise this vital digital transformation solution.
Q: Why is it important for organizations to deliver a meaningful and personalized customer experience? What does it mean to them?
A: The online presence of every customer in today’s world is extremely high – they’re looking at products through mobile phones, tablets, and laptops… gone are the days of only shopping in-person. In this capacity, customers are trying to get the maximum amount of details with the least amount of effort. If, as a company, you aren’t providing them with consistent and quality data, then you’ll more than likely lose them as a customer because you won’t be able to deliver to meet their needs.
Let’s look at any e-commerce giant, for example. If you go to their website in order to purchase a new mobile phone, but the description doesn’t tell you how much memory it has, lacks specs on the camera, or is even missing a product photo, you’ll be hesitant to purchase. Worst case scenario, you avoid purchasing completely. Companies that offer thousands, if not millions, of products don’t have time to ensure all of this information is populated – Product Information Management (PIM) steps in and fills this void. PIM enables sellers to provide customers with a consistent interface, offering accurate, detailed information, helping them make informed decisions quickly.
Q: Do you think it’s possible for an organization, in this day and age, to survive without a product management tool?
A: Absolutely not! Companies aren’t solely brick and mortar anymore, companies are trying to reach a larger market. They can’t rely on footfall traffic in order to provide customers with access to their product anytime and anywhere. It’s imperative to have a centralized management system to continuously populate products.
The need for PIM goes beyond just what the customer sees – it’s heavily integrated in the way customers, retailers, and suppliers interact. Suppliers don’t even need to send their product to the retailer to be added to shelves anymore. With the ability to “order now, pick up tonight,” shelf time can be completely eliminated. Retailers no longer have to stock up on items that won’t sell, rather, they can cast a wide net via catalog and begin distribution once a customer has committed interest. This process extends to manufacturers as well – with a catalog available, manufacturers can decide to produce based on market interest. This saves significant time and money for all parties involved.
Q: In what areas can PIM make the greatest difference in the least amount of time?
A: The maximum benefit of PIM is seen by companies of all industries with large volumes of product and/or those that have significant amounts of product attributes (photos, videos, specifications, etc.).