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Product Information Management – A Must-Have for eCommerce Businesses

If you are an eCommerce store owner, you know that your inventory list is loaded with thousands of SKUs with unique dimensions, manufacturer descriptions and other attributes.

When it comes to maintaining such humongous information in an orderly and easily accessible fashion, spreadsheets are our first go-to tools. A recent study by Aberdeen Group has found that more than 89% of organizations use spreadsheets in the planning, budgeting and forecasting processes.

Despite their benefits, spreadsheets often prove to be unreliable. Imagine the horror of losing your entire product data if a spreadsheet is accidentally deleted? Above all, manual data input is error-prone. From creating duplicate product IDs to entering the wrong information, several things can go wrong in the middle.

It is here that a Product Information Management System (PIM) comes of aid.

PIM for eCommerce – A Must-have Competitive Advantage

A Product Information Management System helps centrally manage and access all product information. It is an essential system for businesses that have huge volume of SKUs, product data sourced from third-party providers, and are selling through online as well as offline mediums.

The above challenges are faced not just by large-scale enterprises, but also by a large number of small and medium scale enterprises that have a growing inventory list.

But, why to invest in a Product Information Management system when a spreadsheet comes free of cost?

A study by Ventana found that more than 74% of organizations were able to eliminate errors and mistakes in product information management by deploying a PIM solution. Such a solution can bring several benefits like:

  1. Enables customers to find the right products to make a buying decision
  2. Gives the right product information to Warehouse personnel need for efficient shipping
  3. Smooth progression of the supply chain without any data entry delays
  4. Seamless omni-channel customer experiences across all channels
  5. Improves internal workflows of maintaining huge product datasets
  6. Facilitates upselling and cross-selling of products across multiple channels
  7. Reduced cart abandonment and better consumer experience through accurate product information

Akeneo – The spreadsheet killing Open Source PIM System

Akeneo is an open-source Product Information Management System that compiles diverse product information under one roof. It allows enterprises to create a single product repository – a single source of truth that is accurate, clean and free of all glitches.

The metadata information of products can also be edited in the future to keep up with changing business scenarios. From updating product descriptions to adding media files for better product demonstration, Akeneo offers as many as features one can ask for smooth product information management. The product history keeps a timeline of all the changes that were made to the product information.

Here are some of its key features:

  1. Import Engine to import product data from Excel, .csv or from third-party systems.
  2. A Product Grid that makes it easy to find & view product data quickly.
  3. Data completeness tool that takes eliminates incomplete descriptions.

Additional Features included in Akeneo Enterprise Edition:

  1. Advanced rights management for user privilege control.
  2. Rules Engine for automatic attribute-based product classification.
  3. Products Asset Manager (PAM) that simplifies product rich data management and many more.

There is much more to Akeneo. It can turn your disorganized eCommerce product data into a neatly organized and clutter-free database that will take your business productivity to new heights.

Want to streamline your eCommerce product data? Ask our experts how.

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