Over 40% of small business owners claim to not use technology to its fullest. Most claim it’s because they don’t have the time. However, it’s a missed opportunity.
Trying to handle all your business processes on your own can be overwhelming. There’s also a higher chance of making a mistake. As you can imagine, this can lead to unproductivity.
That’s where PIM and MDM software comes in. One will let you organize your product information, and the other will allow you to manage your business information overall.
The question is, which one do you use? Can you use both? Check out this quick business guide to find out.
What Is PIM?
PIM (Product Information Management) software is a system that handles your business’s product information. Business owners can use PIM to keep track of their inventory, product pricing information, product descriptions, and more.
PIM software is also packed full of marketing tools. Business owners can use it to share marketing photos and videos with their staff.
This software allows for easy collaboration. For instance, if you change the description of a product, your entire staff will be able to see it.
Using PIM software limits human error and ensures customers receive the right products. That means after you click for best PIM solution, and install your software, you’ll have fewer returns to deal with.
What Is MDM?
MDM (Master Data Management) software allows business owners to manage all their company info and data. This covers everything from legal and financial paperwork to human resources.
While your company is still small, you may have no need for MDM software. However, as you open more departments and develop new business partners, it will become crucial.
If you fail to use MDM software, you’ll take in more information than you know what to do with. Over time, it will become inconsistent and unmanageable.
Your staff will spend more time combing through various files than doing their jobs.
Which Should You Use?
The software you choose all depends on the type of business you’re running. Again, a small operation that doesn’t have a lot of data to work with may not need complex MDM tools. They can manage their records by hand.
MDM tools can also be quite an investment. New companies may not have the resources to put toward it.
PIM software solutions are typically used for companies that house many products. If you don’t have much in your warehouse, you may not need it.
Can You Use Them Together?
MDM and PIM tools play nicely with each other. If you want a more centralized view of your product and business data, buy both solutions.
Doing so will help boost your team’s productivity, it will be easier to coordinate between your sales and marketing staff, and you’ll be able to develop a better marketing strategy.
Understanding the Differences Between PIM and MDM
As you can see, there are many differences between PIM and MDM software. The best one for you to use depends on the size of your business and how many products you sell. Of course, using both is a viable option too. For more business solutions and tips, explore the rest of our blog