8 Most Common Product Information Management Challenges

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8 Most Common Product Information Management
Challenges

• Along with customized experiences, customers want
  to have access to a new range of products. Thus,
  to meet the ever-increasing demands of the
  products, businesses need to manage the product
  information efficiently.
• As more and more customers prefer to shop online
  or at least they search for the product online
  before visiting the nearest store. Hence, it
  becomes essential for retailers to keep updated
  their website with the information customers look
  for.
• Businesses have to make sure their multiple
  channels or customer touchpoints enable the
  buyers with up-to-date and furnished information
  in the most intuitive and convincing way. You
  need to manage a wide range of vendor
  multiplicity, product catalogs, as well as
  complex product details too.
• Do you think you can achieve such a great level
  of agility and integrity in the distribution of
  product data through manual product information
  management?
• In the process of addressing all the complex
  requirements of the different stakeholders
  through manual product information management
  methods, you encounter many challenges. It wont
  make you capable to meet the changing market
  condition and ensure the success and growth of
  your organization.

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2

8 Most Common Challenges Faced by Product
Information Management

• 1. Lack of transparency amongst internal teams
  and departments
• In small organizations, communication is more
  open and transparent. But, in large scale
  organizations, effective business commutation is
  the biggest challenge. The employees cannot share
  information, priorities, goals, and tools due to
  the communication barrier. This ultimately ends
  up making your department least productive and
  inefficient.
• You have to establish some effective strategies
  to remove the communication gap across your teams
  and departments. For the success of any
  organization, it is very necessary to have a
  cross-functional and collaborative team.

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3

8 Most Common Challenges Faced by Product
Information Management

• 2. Dealing with multiple sales channels becomes
  tough
• To strengthen your brand presence, it is very
  essential for you to establish a uniform and
  strong presence on multiple customer touchpoints
  and sales channels. But it is challenging to meet
  the frequently changing demands of different
  market place websites.
• Every channel has different requirements for
  information format and types. They have their own
  standards and product list approval policies.
  They might ask you to set different prices for
  different regions.

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4

8 Most Common Challenges Faced by Product
Information Management

• 3. Managing a massive amount of product data
• Businesses have to manage a massive amount of
  content for a wide range of products. Along with
  the product data, they have to manage information
  related to different sales channels, multiple
  services, distributed vendors and suppliers, and
  many other details that businesses have to deal
  with in order to deliver a better customer
  experience.
• If you manage such enormous data manually, then
  searching for relevant and accurate information
  becomes a tedious job. You need to sort all the
  content to get the right one.
• An advanced PIM solution can collect and organize
  the districted data as well as standardize
  product information. The software offers a
  centralized place to store and manage product
  data. Thus, the Product Information Management
  system allows to manipulate and handle any amount
  of product data effortlessly.

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5

8 Most Common Challenges Faced by Product
Information Management

• 4. Disorganized product catalog
• If your organization is selling a large number of
  products then it will be difficult to manage such
  a huge product catalog manually.
• Being a business owner, you need to deal with
  different requirements of multiple sales, a huge
  range of products, and several vendors. It
  becomes challenging to maintain and update the
  uniformity of data in your product catalog.
  Eventually, you develop a complex catalog that is
  difficult to keep organized.
• 5. Manual tasks and spreadsheet will be
  error-prone
• Companies, who manage the product information
  manually, highly rely on spreadsheets. Managing
  such a huge amount of data in spreadsheets is a
  cumbersome and time-consuming activity. You have
  to upload thousands of products in the
  spreadsheets manually that is quite error-prone.
• If every individual across the organization
  managing the data in separate sheets, it creates
  a huge communication gap. In case data is missing
  from the spreadsheet, you will end up by
  presenting wrong and ambiguous information to the
  customers.

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6

8 Most Common Challenges Faced by Product
Information Management

• 6. Handling cluttered digital assets
• While managing a wide range of products you might
  need to create and manage varied product videos,
  marketing visuals, presentations, manuals,
  photos, and many other digital resources on a
  regular basis. Thus, you have to manage a huge
  pile of digital assets.
• All these digital files and archives are very
  important to your business. If you fail in
  managing them in an organized way, then it will
  be difficult for you to sort and retrieve the
  relevant product information whenever required.
  It is better to manage all your digital assets in
  a library, in a consolidated way.

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8 Most Common Challenges Faced by Product
Information Management

• 8. Product launch cycle delays
• The manual product information management ends up
  you with manual tasks, unorganized product
  catalog, cluttered information, and so on. It
  directly impacts on your product launch
  lifecycle. Your product launch could be delayed.
• For the success of any business, timely product
  launch is very essential. The organizations
  should have better control over the products
  lifecycle and a perfect vision about the end
  product in order to gain higher productivity.
• The next generation PIM solution provides you a
  dashboard that enables you with a consolidated
  view of your product data. You can track all the
  updates and have a holistic view of all your
  product information.

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8 Most Common Challenges Faced by Product
Information Management

• How Credencys Addresses Product Information
  Management Challenges using Pimcore?
• Credencys has proven experience and expertise to
  build custom product information management
  solution as per your custom business needs. To
  deliver a robust solution, we utilized the
  advanced features and functionalities of
  Pimcores Product Information Management.
• We have a team of Pimcore developers who help you
  to embrace digital transformation for your
  eCommerce store by harnessing end-to-end Pimcore
  development services. We can build a solution
  that collects the data from different channels,
  enables you with the consolidated view of product
  data, and allows you to deliver the contextual
  product information to your customers.

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