PIM, Is it worth the investment?

Master data-fueled PIM solution can provide the foundation for a new and agile digital business model. However, the solution that will meet needs and support long-term strategy won’t be the cheapest. The solution that meets all of the requirements will increase efficiencies, streamline collaboration internally and with partners, speed up time to market and reduce costs.

 It is hard to detect recent and concrete examples of ROI and business value achievements realized with PIM. We tried put together the following real world measurable business results from customers across retail, distribution and manufacturing – all generating significant benefits from their PIM initiatives.

 Significantly improved productivity and cost reduction:

•  3x more output with the same team.
•  60% less steps to enrich products online (from 15 to 6 steps) 
•  100% less email exchanges to share and collect media data (from 25 to 0 emails) 
•  50% less in workload for data stewards 

Created measurable business value and speeded up time to value:

• 4x faster introduction of new products 
•  67% faster creation of customer quotes (from 60 to 20 min) 
•  70% faster translation of product information (from 10 to 3 days) 
• 94% faster system integration from a new subsidiary acquisition (from 3 months 5 days) 
•  Up to 60% faster time to market by decreasing time to onboard new online product information (from several hours to only a few minutes) 
•   Grow the business 60% and hit sales targets and within two years as the full product range is available online 

 Delivered market leading customer experiences with

• 25% less returns for online orders thanks to rich product information and informed purchase decisions 
• Increased average basket size by 21% thanks to improved cross selling 
• Increased online range coverage from 12% to 96% 
• Supported conversion rate boost of 10% to 20% 

Improved product data quality

• 80% reduction of product data quality issues 

The numbers demonstrate how successful a company can be with their PIM project. Some customers reach their ROI targets within less than two years with the PIM investment. 

 But let’s not forget that some of the most valuable outcomes will never be easy to measure. Happiness for example. Like Emma Toop from Kmart Australia said at Informatica World 2018, thanks to their successful PIM implementation, their customers, teams and stakeholders are now happier. How great is that?