By Author admin

2017 Sees The PIM Market Set To Grow Astronomically

The global increase of ecommerce has led to some astounding advancements in the PIM (Product Information Management) market.

This market started to gain speed back in 2003, and has only grown in recent years. Now, as consumers continue to turn away from physical stores and towards online sellers, the need for product information management has become ever more urgent.

Thus, having reached 5.1 billion USD in 2016, the PIM market is predicted to increase in growth through the next five years.

 

pim

What is PIM / Product Information Management?

As the name suggests, Product Information Management (PIM) means storing information about products. With online marketplaces becoming more and more popular, information about each individual product must be clear to the consumer. Such information as price, category and product name are all essential.

PIM allows for all the information about each product to be stored in only one location. This allows easier management for online stores selling thousands of products to their customers. PIM systems allow for multi-lingual data to be used across different geographic locations and in different ways.

Reasons for Increase

The main reason for the increase of the PIM market has been due to the increased demand for cloud-based solutions in information storage. With master-data in the cloud, essential business functions can be performed much quicker, and product information is consistent across different platforms.

A company that sells online, on mobile, and in printed catalogs must have a consistent view of the product information. Big internet selling companies that work with different suppliers, in different countries, with different price lists and multiple promotions must have a way to manage all of that information.

Another reason for increase is that more detailed information is more often in demand, both from consumers and from governments.

Consumers wish to see the most detailed information of the product or service before they buy, thus being able to compare specifications between different products and make a decision.

In many places, legal requirements also make it necessary for companies to store more detailed information about each of their products.

These legal requirements are actually a challenge for the PIM market. Since different governments have different regulations or policies to consider, the way that the information is handled or what exactly is stored can change across borders.

North America Leads the Way

The continent of North America has led the way when it comes to the PIM Market. The constant demand in the United States and Canada has proved essential to the increase of the PIM market itself.

Also, adaptation to new technologies has made it easier for the PIM market to grow in this area, making the integration of big data possible within Product Information Management systems.

Market Predictions

Reports show that the PIM market is on an uphill curve, and there are predictions of substantial increase over the next five years.

From 5.1 billion USD last year, predictions have been made that the PIM market will increase to over 15.7 billion USD by 2021. Thus, the estimated CAGR is about 25%. This incredible increase means that the Product Information Management Market is truly reaching its potential, providing necessary solutions to businesses around the world.

acidgreen is an award winning e-commerce agency  specialising in Magento, Shopify Plus and digital marketing with over 15 years of  industry experience. Our certified developers and digital marketers are highly qualified to create aesthetically pleasing Magento and Shopify Plus websites that generate the highest amount of conversions and provide the best ROI. Be sure to follow us on LinkedIn, Facebook and Twitter, or give us a call to learn more about our services.

By Author admin

Pimcore Partners Australia, Magento PIM Integration

Acidgreen, a multi-award winning eCommerce agency in Australia, has been awarded the Silver Partnership Certificate from Pimcore – the leading open-source PIM platform, making them official Pimcore Premium Partners.

Pimcore Solution Partners offer exceptional Pimcore integration and delivery services, vertical and horizontal business solutions, and in-depth expertise to further the adoption of Pimcore software and provide value to customers using the Pimcore technology.

pimcore partner australia

CEO of acidgreen Mike Larcher has said “We are very excited to partner with Pimcore’s innovative multi-channel product information management solution. Combined with our extensive systems integration experience and deep industry knowledge we will achieve great things together for our clients.”

The central management of product information in a consistent way is key to omni-channel success. Pimcore provides the needed flexible master data management of product information to efficiently enable this process.

Magento PIM Integration

Pimcore allows more than 40 high-performance data types and is capable of handling millions of products with thousands of attributes. You can manage every aspect of each product master record within the Pimcore data management interface.

Acidgreen are Magento Gold Partners specialising in eCommerce and have also recently partnered with Dotmailer and OroCRM. These partnerships start a new chapter for the company and open up new opportunities for further expansion in the field of eCommerce.

For more information on PIM Magento integration or to discuss your Magento PIM requirements, please do not hesitate to get in touch with us.

***

Acidgreen is an award winning Magento Australia company with over 15 years of  magento web development  and design experience. Our certified magento developers  and designers are highly qualified to create aesthetically pleasing magento websites that generate the highest amount of conversions and provide the best ROI. To know more about magento enterprise and how to get started with Acidgreen’s magento development and design services, please contact us today.

By Author admin

PIM Magento Integration: What you need to know

Data management issues are a common struggle with many companies, both small and well established. Whether it’s a result of mergers, acquisitions, buy-outs or simple organic growth, organisations often find difficulty with managing their data in an efficient and effective way. This is where PIM Magento Integration becomes relevant.

PIM Magento

Product Information Management or PIM, is a software system that is the complete answer to this problem. With the ability to track real time data about the entire collection and inventory of a company’s products and distribute them to multiple portals such as websites, ERP systems and electronic data feeds, it single-handedly combats organisation issues. Not only is this fundamental to overall customer satisfaction but it also provides an all-inclusive overview of organisational activity and internal operations.

How does it achieve this? PIM systems allow customers to access the most accurate pricing and availability numbers while simultaneously reducing costs related returns, weak customer service and loss of customers and sales due to dissatisfaction. It manages:

  • Marketing data (descriptions, labels, media assets)
  • Users data (comments, rates)
  • Technical data (measures, composition, identifiers)
  • Prices
  • Logistics data

This management is done through collating pre-existing data from sources such as your ERP or suppliers database before allowing you to select the data you wish to integrate into your catalogues and prioritising the different data pools. As a result, your entire business is enriched and strengthened.

So who should use PIM?

Large retailers with a vast array of stock and products will benefit from PIM immensely by increasing bandwidth, reducing manual processes and eliminate data inaccuracies. Despite this, it still may not be the best fit for your company. It’s best to have a thorough overview of your online store, product data, where your product information comes from and what channels you send it to before you agree in investing in a PIM. The following is a good indicator of what retailers would be suitable for the management system:

  • High product SKU count
  • Frequent SKU transition
  • Convoluted fulfilment options
  • Various product information management contributors
  • Challengers associated with getting products to the market
  • Manual data processes’
  • High Cost-per-product setup
  • Data collection from 2 or more channels
  • Cumbersome existing product management structure.

PIM Magento = ?

Notwithstanding the fact that there are many advantages that a PIM system presents to an enterprise, there are challenges to using it, hence why it’s’ good to analyse your business before jumping into the PIM pool. Consider the following:

  • Although PIM systems collect product data and storing it accordingly in a central database, they may not necessarily distribute them to the online sites you may need.
  • PIM Magento Integration with the well-known e-commerce platform and some of the more popular PIM systems can be an overwhelming task. Without the proper integration tools and know how, your company may have to rely on transferring pricing and other product information by hand.

WHY PIM INTEGRATION?

Boost Sales

With the PIM Magento integration, you create a more pleasurable shopping and purchasing experiencing for your customers when you incorporate this to your ecommerce magento website. As this should be a relatively high priority for your business, this is a definite positive point. This time saving process paired with greater customer satisfaction logically leads to more repeat customers and an increase in loyal buyers.

Greater Product Information Accessibility

There’s nothing worse than having old information still on display, leaving customers confused as to why they are being told differently by your sales and customers service representatives. With this integration, your customers will have access to real time information about your products and services, as well as your staff being properly informed with updated data. This will strengthen customer interaction and breed an environment for customer loyalty.

Organisational efficiency

A well oiled company would possess a strong and organised internal system in order to make sure that the business output comes off as neat and professional. An integrated PIM Magento system allows an enterprise-wide perspective that achieves a greater recognition of organisational weakness and points of improvement. Your company does not need to reply on two sets of parameters between in-store and online distribution channels. As sales increase, products also accelerate through the sales pipeline.

Increase in successful marketing

Having update information, especially the most current pricing information is crucial and allows your marketing personnel to utilise the more powerful search engine optimisation and PR campaigns and other tools with accurate data. This limits disappointment and confusion in customers and facilitates sales conversions.

POPULAR PIM INTEGRATION SYSTEMS

  • Pimcore – The head of the e-commerce industry, Pimcore established the very first PHP open source PIM application framework on the market. It’s PIM system utilises web services and content integration technologies to organise product and service information before distributing it to Magento and other e-commerce platforms. This system is highly recommended.
  • Infomatica– Infomatica PIM provides retailers, distributors and manufacturers with an end-to-end transparent process along the product information chain supply. This then provides an effective data management and integration for your company, benefiting your sales and customer service satisfaction.
  • Akeano – Relatively new to the product content management industry, Akeano is an open-source PIM solution created with merchants for merchants and appropriately designed for non technical users. This system is especially favourable for those who lack strong technical capabilities but still would like to create, enrich and maintain consistent product data management.

Acidgreen is a leading magento company in Sydney and an official Magento Solution Partner with proven experience successfully delivering the Magento Enterprise Edition. With over 15 years of e-commerce experience, acidgreen has the knowledge and expertise to create webstores that generate the highest amount of conversion rates and provide the best ROI. For more information on PIM integration or how to get started with us, contact acidgreen today!