Advantages of using Product Information Management Tool

 

Imagine having a seamless business model that does all the work for you and also attracts more customers! Isn’t that what you are trying to achieve with your company? What if we told you that is possible and easy too?

Check this out:

A product catalog software is best for all businesses that need to streamline their activities and look for success on the online platform.

So is this what you need for your business? Absolutely right!

Let’s look at what exactly does a product information management (PIM) tool do to a business.

With services providers like Questudio, you can find the best catalog management software in CatalogStudio. This will create a unique central repository that holds all the product details that you deal with. The most important task of this repository is to store all the attributes required for a perfect management system. Once this is done, the next step in the process helps to create a website and upload all the data for the customer to see and eventually purchase. But Catalog Studio goes the extra mile and helps with cataloging your products for publishing it online and on several channels, which brings in more customers and obviously more sales. This is the beauty of this all-encompassing product catalog system.

Still not convinced?

OK let’s dig deeper and understand the advantages of this product information management tool. Here goes:

 

  • Ease of managing a large number of products – With the PIM tool, it is easy and quick to upload all the details of the products that are part of your company. However large a database you have, it can be done without a hitch. This quick storing of data makes it very easy for company personnel to get on with business.
  • Sourcing of products – If your products are not coming from a single source, then it becomes extremely difficult to handle this information manually. With the PIM tool and the central repository, you don’t have to worry even if you have several source points for your products.
  • Improved accuracy – The star of the PIM tool is the central repository. This is because it helps to maintain accurate data in a single location. All changes, deletion, and addition of product data happens only here and is reflected on the website.
  • Efficient workflow – Once your data is stored centrally, all other business activities and workflow is automatically efficient. Employees at geographically spaced locations can work with products from different sources easily.
  • Lessens the number of product returns – All businesses want products to satisfy their customers. So the return of products should ideally not happen. This is where the PIM tool achieves success. When a customer is given all the relevant information about the product, they can make an informed decision and buy the right product.
  • Increases customer loyalty – When you have the right products going out, you have happy customers. With happy customers, you automatically have a loyal customer base.
  • Sell across multiple channels – With the PIM you have the added advantage of creating catalogs quickly and publishing them over multiple channels – online or offline. Think print, PDF, etc.
  • Multiple catalogs – Creating just one catalog is easy, but when you need to create several different ones for various occasions it can get tedious. The PIM tool helps you to create multiple catalogs all different in type in a matter of minutes.

Isn’t this what you want for your business? So, go ahead and make it happen with the perfect PIM tool.

How to use Online Catalog Solutions to manage your e-commerce store

Do you know that your e-commerce store could generate a lot more traffic and increase sales? Want to know how you can turn your website into a magnet for the right customers?

Managing your e-commerce store using the best software solutions is the key to getting this done. It’s not just a static website that can bring you a pool of customers. You need it to be dynamic and well-built so that many more customers are attracted to your store and also continue to be loyal.

Today you have a wide variety of consumers who love to shop online. So catering to their needs and keeping in mind the demographic are all important points that enterprises need to be aware of. Your e-commerce store should have the right payment gateway for customers and also have methods for your enterprise to infer their demands.

If this seems like a lot to handle, then don’t fret.

Premier software and service providers like Questudio are here to bring peace of mind to enterprises. They handle the product information, website creation as well as publishing of catalogs so that enterprises can focus on product innovation and quality.

Questudio has CatalogStudio which is an all-encompassing software to manage the e-Commerce stores of small and medium enterprises as well as large ones. The online catalog solutions that Questudio has are customizable to suit the needs of every enterprise. Using a central repository, Questudio has been able to manage product information in a seamless, effortless and productive way. They store every available attribute of the products like color, dimensions, image, etc so that it can be used in various categories over and over again. This central repository is the key to creating a perfect software solution that is SaaS-based.

Online product catalog solutions like CatalogStudio then use this central repository to access the product information via websites or software tools. Your e-Commerce store with its website will use the central repository to display all the products in a stunning way. When the products are showcased in the right way with detailed information given, it leads to more customer engagement and in turn sale of the product.

Look at it this way.

Once you add in more details for every product you display with clear images, it helps customers make positive decisions. When they make a decision, it can be to add the products in wish-lists or immediately buy the items. Both scenarios are beneficial to an enterprise. The first gives the enterprise a closer look at what items customers are keen to buy and the second increases sales.

What else can you do to help generate more traffic to your store?

That would be publishing.

e-Com catalog solutions are also perfect to help you create various catalogs of your products. These brochures can be sent to dealers, wholesalers as well as potential customers. With CatalogStudio it is extremely easy and quick to create several versions of catalogs to suit the needs of the end-user. So you can have a catalog of your entire product line to be sent to dealers. You can have another category-specific catalog that can be sent to potential customers.

So do check out CatalogStudio and see how it can dramatically change your enterprise for the better.

Creating an e-commerce store and using the Catalog Automation Service

Running a successful e-commerce store is possible if you have the right tools for it. Smooth handling of a business is always a vision of any enterprise. So how is it possible to handle a large e-commerce store and still do it effortlessly?

The answer lies in a great Catalog Automation Service.

What does this service do? Is it cumbersome to start the process? Can every employee of the enterprise handle the process or would you need specialized people? Is it expensive?

Let’s go through the process and see how the catalog services and automation can change your business for the better.

First, software providers like Questudio have customizable product information management solutions like CatalogStudio to turn a business into a successful online venture. CatalogStudio works with the principal of a central repository. This repository houses all the necessary information about the products that an enterprise sells. Every attribute is accounted for and included in the repository so that it can be used later. CatalogStudio then creates a website with customized themes and layout. The products to be displayed on the website are taken from the central repository. This is then available for customers to see and decide. Dynamic websites will have a payment gateway so that customers can directly buy products they like and get it shipped to their location.

Since the key process in the creation of the e-commerce store is the building of the central repository, this mustn’t be a cumbersome one. CatalogStudio is built in such a way that data can be added, modified, deleted, etc easily and quickly by any employee of the enterprise. You do not need specialized software employees to manage it. Questudio provides ample support and this makes it very easy for the enterprise to build their central repository.

Once the repository and the website are well connected, the enterprise can go ahead and make use of the next powerful tool in the CatalogStudio software. This is its publishing tool of the catalog management service. With just a few clicks, you can create several versions of catalogs/brochures ready for printing or posting on the web. PDF publishing is also available for the enterprise and this becomes a great marketing tool for the enterprise. You can mail the PDFs to your dealers, wholesalers, etc. You can also create customized catalogs that can be consumer-specific. These can be used to promote sales for a particular season or festival. Marketing becomes a powerful tool with the help of the CatalogStudio software.

So, if you have a large, medium or small enterprise, you will need a catalog-services and automation system that gives you the freedom to deal with innovation, creation and marketing your products. Handling the business side of your enterprise becomes easy and effortless when you a supportive automation solution at your disposal.

Lastly, this automation system is not expensive either. That’s the best part! According to your enterprise, you could either buy out the software or use it on a subscription basis. Either way, you are in a win-win situation!

SaaS based Product Information Management

SaaS based Product Information Management

Internet-as a service

SaaS (Software as a Service) is a software sharing model where some third-party hosts applications and makes it accessible to consumers over the internet. It is also commonly stated to as ‘on-demand or web-based software’. One can easily use the software via the internet where no installation or maintenance is required. This gives user freedom from complicated hardware and software management. SaaS applications run on its provider’s servers. The access to applications is managed by the provider. Questudio also offers CatalogStudio in a SaaS-based model.

An easy way to comprehend SaaS

SaaS model can be understood better by comparing it with the working of a bank. Bank provides trustworthy and protected service to its customers and at the same time protects their privacy. Bank customers use identical technologies and financial systems without any worry about their private information which cannot be accessed without authorisation.

The SaaS model provides many benefits to its customers which are as follows:

Pay on the go

The main benefit of a SaaS model is that it is not necessary to purchase a software to install or any additional hardware to support it. A SaaS product usually works within a browser. Customers can use the SaaS model by paying a subscription fee. All a customer needs is a good internet connection. Payment is usually made on ‘pay as you use’ basis. Customers only pay for the services they use. It allows businesses to work out a more precise budget plan. At any point in time, if the customer prefers to terminate the SaaS subscription, he can just stop using the service. This helps in cutting the recurring costs.

Gain access to complex applications

SaaS makes even complex applications for enterprises affordable for those organizations which do not have software and infrastructure resources. It does not need any special software to run. The SaaS model does not require the customers to update or maintain changes in the software.

Workforce advantage

SaaS model does not require the development of applications to run it on different devices as the feature is already provided by the service provider. It does not require any onboard expertise team to manage any safety issues. The service provider will safeguard the data irrespective of the device using the service.

Easily accessible

SaaS services can be accessed from anywhere as data is being stored in the cloud. It can be accessed from a computer or a mobile device which has an internet connection. The data stored can be retrieved easily on the go. Customers need not worry about the data on their device getting damaged, as data is stored in the cloud. Data stays secure in the cloud even if the device using it gets corrupted. As the service can be accessed from any internet-enabled device, it is easy to monitor usage of data and make sure everyone views the same data.

Customisation made easy

Software as a Service provides the advantage of customising applications according to the needs of the business or customers. Customisations are well-maintained by the service provider. SaaS regularly provides upgrades which can easily be adapted by the customers in terms of risk and cost.

Product Information Management and ROI

Product Information Management and ROI

Processes and technologies aimed at managing information about products are referred to as Product Information Management. With the speedy growth of e-commerce and the fame of online stores, PIM is gaining importance. Availability of high-quality product information is essential as consumers devote more time exploring products online.

Questudio’s CatalogStudio PIM software works as the central repository. It helps create, manage and maintains all product information. CatalogStudio software consists of numerous modules which are suitable for enterprises and SMEs.

PIM directly impacts the revenue and cost of a company. The effects of PIM on returns on investment are:

Increases sales

Customers search product information across platforms before their purchase. Availability of accurate product information increases sales. It has been proved through studies that online conversion ratios can increase by up to 56% through PIM. PIM helps in cross-selling and up-selling. Retailers with PIM established a better relationship between products than those without PIM. PIM helps in lowering the uncertainty about products which results in higher purchases, in turn, resulting in higher sales.

Lowers maintenance cost

Product information system helps in reducing the search time and helps in retrieving the information faster. It helps to minimize the time required to edit a product information. The repetition of product entry is highly reduced. As it provides many tools for product validation, the number of errors is considerably minimized. It curtails the time spent on customer enquiries by presenting precise product information. Hence, companies spend less cost in maintaining PIM.

Reduces return rates

Product returns and grievances are a result of inaccurate product information. The common complaints about a product return are incorrect or outdated product description, the difference in online and shelf price and product received is unlike the product advertised. Recent studies state that consumers are cross-channel purchasers. It is essential to make sure the information about products available are accurate and up-to- date. PIM makes this possible through building a sole, reliable source of product information across channels. This, in turn, helps in lowering the rate of product returns, thus increasing the returns on investment.

Reduces Catalogue costs

Consumers in recent times, are in search of detailed information on products. The print catalog includes the details such as pictures, specifications and price of the products. Web catalogs provide additional benefits such as review of the products from customers who have already purchased the product, minute details about the look of the product can be viewed by zooming the product, and images of the product can be viewed from different angles and so on. These features cannot be accomplished in print catalogs. The cost incurred in printing catalogs is huge when compared to web catalogs. In addition, any change in the product information can be updated on a regular basis in the website whereas it is not possible to print catalogs for every update which incurs a huge cost.

Simplifies localization and translation cost

Localization and translation are vital for any business to expand into new markets. This involves changing languages, currencies, payment modes and so on according to the new market. Doing it manually involves considerable investment in time, labour and cost. PIM simplifies and speeds up the localization and translation process. Hence, increasing sales which in turn increases the return on investments.