Adeona PIM news from partners and customers

On November 23, 2021, we celebrated the 3rd anniversary of the new generation Adeona PIM software at Spektrin Business Park. The party was attended by a number of companies that use Adeona PIM product information management in their business to share their Adeona PIM experiences, learn something new and, of course, celebrate in good company.

Vierumäki and Adeona PIM – together on the way to the top

The first speaker was Sanna Partanen, Vierumäki’s Marketing Director, who spoke about the needs of Vierumäki’s product information management and what the benefits of centralized product information management have been from the marketing director’s point of view. In addition to about 200 different activities and sports, Vierumäki offers accommodation and campus facilities for about 800 students. By managing many different areas, Sanna has noticed benefits, among other things;

  • In harmonizing and simplifying product management
  • Product lifecycle management
  • In unifying content production
  • In the background of new e-commerce opportunities

Product information management to help you create moments

Next, we heard Pinja Tolvanen’s views on how Adeona PIM has made it easier to manage the range of thousands of E. Ahlström’s products. In her speech, Pinja emphasized the importance of digital channels and how a significant part of their turnover is currently generated through digital channels. At the beginning of the product information management project, E. Ahlström’s goal was to improve the customer experience, enable digital business in the future, streamline the product information process and improve the employee experience. We are pleased to hear that E. Ahlström has felt that they have achieved these goals over the past two years.

”PIM and website marriage – happiness comes from good planning”

With these words, Karhu Helsinki’s Timo Salminen began his presentation on the marriage between the website and PIM and how good design is an essential part of website design. In his speech, Timo highlighted the “8 Commandments of the Website Project Leader”. Timo thinks these 8 commandments are a sure recipe for the success of a website project:

  1. Allow enough time for the project
  2. Make sure your website provider has experience with product data projects
  3. Define product data well before the start of a website project, but be prepared for flexibility
  4. Invite a website editor, PIM editor and your in-house product people to the same table in time
  5. Keep your partners and important people involved throughout the project
  6. Set aside time for your own people, especially for testing
  7. Publish a good enough first version and make regular improvements
  8. Test and research, ask customers and make further developments based on the findings

Automation publishing as a time saver

As the last guest speaker, Tero O. Nieminen of Thero Design told the guests how automation publishing facilitates employees’ work by providing ready-made layouts for product information publications. Relieved, Tero also explained how much Adeona PIM will improve communication between different departments when it comes to producing different product materials. For example, the outlook is the same for a graphic designer as for a product manager, which makes it more straightforward to produce materials and communicate related things.

There’s a ready-made connector between the Adeona PIM and EasyCatalog, so commissioning is quick and easy “So effortless that I’ve developed into a true Adeona addict” Tero said with a twinkle in his eye.

News from Canter

At the end of the event, we heard last year’s Adeona PIM news from our Chief Technology Officer, Janne Costiander. Over the past year, new features have been added to the Adeona PIM software every 2-3 months. All new features have been made available to users of Adeona PIM within a few weeks of release. Janne also talked about how investments have been made in integrations, in addition to the issues seen in the user interface during the past year. In addition, Ville Miettinen, Canter’s Head of Customer Operations, spoke at a deeper level about Canter’s consulting services.

tuotetiedonhallinta akilleen kantapää

The challenges and opportunities of Product Information Management

Explanation: The year of the Corona revealed Achilles’ heel in Finnish companies – The current quality of product information does not succeed in international competition.

Although product information is considered a critical factor in a customer’s purchasing decision, companies are not satisfied with its management, a survey of product information professionals reveals

 

The Corona year 2020 made Finnish companies wake up to the potential of digital platforms and e-commerce. A survey commissioned by Canter says companies expect the share of sales through digital channels to almost double within the next two years.

As digital commerce becomes more important, the importance of product information also increases. Product information refers to all product-related information that is used to serve the customer at different stages of the purchasing path and customer relationship. 76% of the companies that responded to the survey considered product information to be a major or very large factor in the customer’s purchasing decision.

Although product information was considered a critical success factor, respondents had poor control over its management. Only 11 percent of respondents felt very satisfied with their company’s current product information management. As many as 33 percent estimate they have lost sales due to incorrect or incomplete product information.

“This year, the eyes of more and more Finnish companies have opened up to the importance of digital commerce and thus the importance of product information. On the B2B side in particular, the conformity of the product and its suitability for the intended use are emphasized. The simple truth is that a customer doesn’t buy if they don’t know,” says Patrik Palatz, CEO of Canter, a provider of centralized product information management solutions.

Information is scattered in ERPs and Excel, although centralized product information management would help

According to Finnish companies, the most significant problems in managing product information are the fragmentation of information in different systems and the lack of uniform operating models.

“Indeed, many product information management professionals who responded to the survey described a situation where product information is fragmented into many parallel systems and behind several different people. Transporting product information living in ERPs, excels or colleagues’ hats to sales channels and materials puts a painful amount of manual work in companies,” says Palatz of the survey.

It is possible to automate product information management with Product Information Management, or PIM systems. PIM solutions facilitate centralized management of commercial product information as the information can be updated to different sales channels from a single location.

The results of a study commissioned by Canter provide a strong signal of the benefits of centralized commercial product information management. More than 70 percent of companies using a centralized PIM solution said they were fairly or very satisfied with their company’s product information management, and 44 percent said they were satisfied with the quality of their product information. In contrast, nearly 70 percent of companies operating without a PIM solution were dissatisfied with their company’s product information management, and only 20 percent were satisfied with the quality of the product information.

“Companies focusing on product information management highlighted clear business benefits. The speed, ease, and automation of product information management allows for a better focus on areas that are important to online sales and marketing, such as content-rich content. In companies where commercial product information management is not centralized, the emphasis is still often on basic issues such as ensuring the accuracy of product information and an adequate level of quality, ”says Palatz.

Amazon is interesting, but getting there requires enrichment

The survey also examined the attitudes of Finnish companies towards Amazon, Google Shopping or various sectoral marketplaces. These were considered interesting by more than a third, or 35%, of respondents.

The expansion of trade to platforms such as Amazon further emphasizes the importance of product information and its centralized management: for example, product descriptions require market-specificity and several different language and unit versions. Product content is also a way to differentiate yourself from your competitors.

“Domestic companies selling consumer products in particular see Amazon, Google Shopping and other marketplaces as important ways to reach a more global customer base,” Palatz interprets the survey responses.

Centralized product information management solutions also help enrich product information, such as linking videos, user stories, guides, or product links to basic information. 87% of the respondents estimate that enriched product information is an important differentiating factor in digital channels.

“The power of recommendation in an online store is huge. If a company is able to enrich its product information with, for example, tip videos, reviews from other users, or inspiring use examples, it will gain an advantage over its competitors. Communication related to responsibility and ethical values ​​is also becoming increasingly important, ”says Palatz.

The study carried out by Canter in November 2020 was the first study to extensively examine the state of product information management in Finland. The electronic survey and qualitative telephone interviews were attended by experts and decision-makers working in the commercial product information management of more than 100 different companies. The study was carried out on behalf of Canter by research agency Vastakaiku Oy.

 

More information:

Patrik Palatz, President and CEO, Canter OY

Phone number +358 40 774 1200

patrik.palatz@canter.fi

Tuotetiedonhallinta PIM perusteet

The fundamentals of Product Information Management (PIM)

This article is based on the Product Information Management Basics webinar held on February 18, 2021, which you can watch here. The topic of the webinar was PIM basics and deployment and Product Information Search Engine Optimization and the webinar was organized with our partner Avenla.

78% of companies do not offer a unified product experience across all their channels

Periscope ™ Research

Multichanneled customer experience

Commercial product information management (PIM) refers to the management of information that supports the sale and marketing of products and services through various channels. At the heart of product information management is a good customer experience that is present throughout the customer’s purchasing path. The customer encounters product-related information in many different channels and meeting points. Thus, high-quality, relevant and consistent product content has a significant impact on the customer’s overall product experience.

Product information along the customer’s purchase path

In terms of multi-channel marketing and sales, product information management enables a consistent product experience. The goal is for the customer to find, identify, and understand the product in the way it is presented in different contexts, channels, and meeting points.

Without a centralized place where marketing and sales information is managed, information is often fragmented into a number of different locations and systems where it is managed by several different people without knowing each other. Often, ownership of information is also unclear and information retrieval takes extra time. Before a good product experience can be developed in sales channels, product information management must be in place internally.

93% consider accurate product descriptions and images to be the most essential feature of e-commerce.

Posti 2019

Implementing PIM

Adeona PIM is a centralized product information management platform that creates better, multi-channel product experiences and streamlines product processes. Different departments and individuals have clear roles in maintaining the software, so that updated product information is always available and systematically managed.

However, PIM does not displace everything, such as ERP and CRM, which handle core business processes and take care of logistics and sales. When product information management is implemented, there are usually three clear steps in the process:

1.    Combining and analyzing product information

 

The starting situation is not optimal because the information is in many different places. Canter’s experts set off with the customer through an analysis phase, which maps the customer’s data resources and ways of working. The analysis provides a good idea of ​​how much information there is, where it is located, and what parts of it are of high quality.

  1. Organization and enrichment of information

Integrations play a backbone role in how information is made to flow automatically – always striving for the principle of a single input. At this stage, it is important to understand what the needs of the customers are and what the technical and content requirements are for the different channels. Organizing information requires analyzing sales and marketing channels to understand what requirements systems, media, or files have. Based on the analysis, a good, flexible product information model can be built in the middle of the PIM system, which in turn scales and develops according to business needs.

  1. Channeling and publishing information

In order for us to sell and serve information across channels, the final step will focus on channeling and publishing information, as well as transferring information and synchronizing electronic services.

50% of the data analyzed by leading companies contained errors.

GS1 2019

 

Information flow in the value chain

Typically, in the retail sector, the structure and mode of operation is that the brand or manufacturer uses the Adeona PIM system as an extension of its own ERP or PDM system. In wholesale or retail, on the other hand, these two interfaces need to be managed extremely well – how information is received, how it is integrated into one’s own process and how end customers are served.

There are often different tools and ways to operate in supply chains, so a company should find out what are the best and most effective ways to operate in terms of product information management. For example, in Finland, when the market is still small, it is worthwhile for a global company to consider how product flows can be technically automated and whether the company’s influence is large enough.

From the point of view of effective product information management, one must think about how the whole is developed and whether the right things are done with smart solutions. The biggest challenges for multinational companies are often the translation of product information or the flexibility of a principal’s brand portal. When, after sufficient analysis, the product information is obtained centrally in the PIM system, a great opportunity opens up for publishing automation and process automation.

What does product information management include?

  1. Collection of product information

There are many possibilities and options for collecting product information, the most popular of which is seen as the familiar Excel. However, if there is an opportunity to build integration between the two systems, the data transfer is automated using, for example, the information system architecture. It is good to ensure the quality of the data already at the beginning of the data collection, in order to avoid unnecessary cleaning of product data and data later.

  1. Classification of products and product information

The PIM system offers many different classification options, for example for product type-specific models. In the system, the product structure must be thought out smartly and the right information connected to the right level. Detailed classification is particularly relevant for sales and marketing, so that relevant and necessary product information can be found quickly in the system.

  1. Enrichment of product information

At the heart of product information enrichment is content that is relevant to customers and whether there are resources for it. Enrichment focuses on customer-oriented production of product content, but especially in international trade, the management of language translations and consideration of different cultures are also relevant.

  1. Quality of product information

The varying quality of product information limits the possibilities of utilizing the information, and reduces its discoverability. Good product information management tools help ensure high quality product information across all publication channels.

  1. Distribution of Product Information

Through the interfaces of electronic services and integrations, the goal is always clear – the right information is synchronized to the right user connection and service. The information is no longer copied from one place to another, but is automatically published to both online services and sales materials.

Is your company interested in product information management? Contact us and let’s discuss more!