It has become essential to consider how data is managed. Businesses prioritizing the challenges around data management get the best results with 70% of them1 reducing their costs and 69%1 seeing an increase in their employees' productivity.
In this context, businesses are getting on board with solutions specializing in data management, among which are PIM (Product Information Management) and ERP (Enterprise Resource Planning) solutions.
PIM and ERP are two different solutions which improve a company's data management (quality, accessibility, reliability…). Used together, they allow for optimized management of all product information.
Discover the specifics of each solution and how to use them together to optimize your product data management.
#ERP, definition and benefits
#ERP: improve operational processes
In a business, each department uses specific tools to perform their activities. However the multiplication of independently managed tools has a negative impact on the overall efficiency of the teams who can spend up to 2 hours per day1 simply trying to find data.
To avoid these negative impacts, it is essential to use an ERP (Enterprise Resource Planning) solution. 49% of businesses2 say that they have optimized their working processes after having implemented an ERP. These solutions are composed of various functional modules, each corresponding to a specific area of the company and linked to a unique data base. They harmonize the company's Information System (IS) and manage all of the essential features of their activity3: stock and order management, human resources, finances and accounting, logistics…
This means that all employees are working on the same tool and have easy access to the information they need to fulfill their missions.
#The benefits of ERP
#Superior decision-making processes
ERP solutions help managers to make strategic choices and informed decision. An ERP gives them a consistent birds-eye view4 over all company activities while also providing real time access to KPIs and identifying processes requiring improvement.
#Improved collaboration
An ERP encourages teamwork: this is one of the three key benefits2 of the solution, alongside the reduction of time spent on processing operations and the centralization of data. It will also improve communication5 internally (between departments), and externally (among customers and suppliers) and facilitate the transmission of information within the company.
#Boosted performance
The ERP allows you to automate low value tasks and reduce the risks of data errors: input errors, repetition, information differing between departments… Through this task automation, a business can increase its productivity by 20 to 30%6 in just a few months.
#PIM, definition and benefits
#PIM: optimize your management of product data
Far too often, product data is scattered across various different software applications like the ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), files in different formats (Excel, XML, Json…)… These working processes reduce a company's efficiency with 74% of businesses7 saying they have problems managing their product information.
PIM (Product Information Management) solutions interact with the company's IS (Information System) for 360° control over product data. With PIM, your Product and Marketing teams can, at any time, rely on a unique product repository containing complete, updated, and validated data.
#The benefits of PIM
#Improved quality of product information
By centralizing all product data, the PIM reduces the risks of error on product information: duplicates, input errors, inconsistencies… 74% of businesses7 using PIM state this and 66%8 have improved the quality of their product data.
#Better control over the data enrichment phase
PIM provides for better cohesion between the different teams (Marketing, SEO, Product…) during the product data enrichment phrase. Each contributor can, depending on their user rights, enrich product information with photos, videos, technical features… Adding this content can increase an eCommerce site's conversion rate by 35%9.
#Better control over product information
PIM allows Product and Marketing teams to manage their product data effectively across all selling channels with 67% of businesses10 that use PIM reducing the efforts required to manage their data. Through a unique interface, they can store and quickly distribute the information adapted to the specifics of each selling channel, country and/or target.
#PIM and ERP: two complementary solutions for managing product information
PIM and ERP are two different solutions. ERP solutions cover a wide perimeter and aim to improve the management of all of a company's activities. More specific, PIM solutions optimize the process around managing product information and have dedicated features for managing all associated data: suppliers, ranges, collections, distributors…
Used together, PIM and ERP provide the very best solution for managing product information. The ERP will manage numerous data including product related information: stock levels, number of orders, product returns rate, delivery information… This data is essential to provide the best shopping experience on an eCommerce site and to enrich the information presented to customers: stock availability is a top priority for 52% of online shoppers11.
PIM's connectors enable it to interact directly with the ERP to retrieve and synchronize all the data it contains. Once the data has been transferred, the Product and Marketing teams can improve it before distribution: enrich, optimize, contextualize, approve…
1
Data management challenges are having a severe impact on profitability. (2019, March 13). helpnetsecurity.com.
2
Oracle NETSUITE. (2021, December 15). 60 Critical ERP Statistics : 2021 Market Trends, Data and Analysis. netsuite.com.
3
Paupier, F. P. (2020, November 14). Qu'est ce qu'un ERP : Enterprise Resource Planning ? appvizer.fr.
4
Le rôle central de l'ERP pour piloter son entreprise. (2021, April 16). experiences.microsoft.fr.
5
Accélérer la croissance de son entreprise grâce à un logiciel ERP. (2022, April 15). solutions.lesechos.fr.
6
Comment un ERP peut-il aider votre entreprise à baisser ses coûts de production ? (2021, November 22). usinenouvelle.com.
7
Ventana Research. Building a Business Case for PIM. ventanaresearch.com.
8
ergonode.com. (2022, March 11). Why is a PIM beneficial for your e-commerce team?
9
Frenchweb. (2021, January 19). E-commerce : 10 chiffres qui montrent l'importance d'une bonne stratégie de contenu. frenchweb.fr.
10
STIBO SYSTEMS. (2021, September). PXM : L'expérience produit au service de l'expérience client. stibosystems.com.
11
L'impact de la crise Covid-19 sur les achats e-commerce en B2B. (2021, February 1). fevad.com.