Return on Investment (ROI) of Product Information for Multichannel
The results of the international PIM study shows a return on investment (ROI) from an Enterprise Product Information Management (PIM) solution is possible within the framework of a multichannel commerce strategy.
Over 300 retailers and manufacturers from 17 countries participated in the extensive study by Heiler Software. The study delivers more than 30 pages measurable results.
The study shows benchmarks how international retailers and manufacturers can optimize their business model, revenues and costs with PIM.
Three examples to achieve return on investment (ROI) through product information management (PIM) are time to market in e-commerce, higher margins and conversion rates as well as cost savings when bringing in new suppliers.
The use of Product Information Management (PIM) reduces the period of time significantly from an average of four hours to one hour. This represents an increase in the market speed of 75 %.
With PIM, 62% of manufacturers improve their conversion rate and 80% see a pronounced increase in margins. Additionally, 69% of distributors see an increase in acquisitions of new customers.
Retailers using PIM were considerably faster in implementing the integration of their supplier data and thereby they not only generated cost reductions for their business strategy.
Creating quick ROI and quick time-to-value – this is the result of us implementing a product information management (PIM) project at the customers’ site.