With hyper-automation, personalization, and advanced customer experience (CX) ruling the digitalization space, adopting platforms such as Product Information Management (PIM) has become pivotal for businesses to sell successfully. Technologies like PIM have the potential to ensure that enterprises make the best use of their data by developing capabilities like digital transformation, data syndication, and omnichannel selling to achieve operational excellence, fulfill revenue goals, reduce time-to-market, and exceed customers’ expectations. PIM centralizes data from disconnected systems and sources, creates a seamless integration between applications, streamlines workflows, encourages agility and flexibility, and serves the right product information, on the right channel, at the right time. PIM not only enhances interoperability between various systems, provides end-to-end visibility of product information, facilitates garnering of product data insights, but also has the potential to forever adjust to the way businesses run, and not the other way around. The infographic shows why PIM has turned into one of the most important needs in almost every digitalization endeavor.

1. What is PIM?
"PIM refers to a set of business practices for managing
information needed for marketing and selling of
products through organization's distribution channels,
so that relevant, accurate, and complete product
information could be delivered consistently to customer
touchpoints."
The PIM must be able to
interoperate with the
existing system
The global PIM market size is expected to
grow from USD 9.0 billion in 2020 to USD 16.0
billion by 2025, at a Compound Annual Growth
Rate (CAGR) of 12.2% the forecast period.
Data Consolidation
Core Functions of PIM
Data Collection Data Dissemination
Data Enrichment
Benefits of PIM
Omnichannel powered
perpetual growth
Glocalization along
with Customization
Faster-time-to-market
Enhancing Product
Data Management
Driving Personalized
Customer Experience
Improving Business
ROI and Productivity
Challenges Without PIM
Inaccurate and Obsolete
Product Information
Managing Large
Unstructured Product Data
Inconsistent and
Poor Data Quality
Managing Large
Product Data via
Different Platforms
Poor Customer Experience
How to Choose Right PIM System?
The PIM system must
easily integrate, enrich
and manage data flow
The PIM should have a
centralized platform to
manage product data
The PIM should easily
adopt too current
processes and system
The PIM able to adapt
business irrespective of
location, language etc.