Building a business case for PIM
Getting buy in for PIM projects is really tough.
Why? Because PIM projects are very transformational - they transform business processes, data and systems entwined with those processes, and potentially even people's jobs.
However, the actual business case for PIM is actually relatively easy to construct if you know where to look. Here is the simple method for creating a PIM business case we use at Start with Data. This framework can be applied to any type of PIM projects - a small enhancement projects right through to a wholesale transformation.
Data quality Improvements
There is a direct correlation between the quality of your product information and any system or consumer that depends on that data being high quality. This includes internal systems & processes that depend on good product information like supply chain and marketing teams, but if not more importantly your customers who will find product discovery and purchase easier and more seamless.
How? Talk to your internal teams and customers about the impact of poor quality product data on their KPIs.
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Time savings
PIM is the intersection of processes, people and technology to onboard, manage and syndicate good quality product data. The reality is these processes are extremely manual, high touch and require a large volume of human intervention. This all drives speed inefficiencies - slowing down product introduction for retailers and distributors, or time to market for manufacturers. In addition the manual overhead of enrichment and sourcing of data.
How? Measure the speed of New Product Introduction today, identify pain points and quantify the time savings.
Cost savings
PIM project drive cost savings for technology expenditure - through consolidation of system, removal of duplication, reduction in shadow IT. In addition, process improvements and automation drive down the cost to serve product information to your business and customers.
How? Identify duplicate systems and processes, and quantify the cost savings.
PIM business cases always have a good ROI... you just need to look around. Talk to me if you want support building your business case.
Intelligence-led change/programme manager, and writer
1 年From my experience, I agree with Ben’s comments. ? Adding to his argument on ROI from data quality Improvements: I’ve found legacy data that’s so dirty it was reducing sales, but nobody knew how to fix it. ??And another benefit: with new PIM systems, there are new opportunities, such as by improving delivery to customers, and channeling product data to and from third party systems. A good PIM is the foundation for a strong future. ? Barriers to start-up? Yes, ROI is a big one. There’s also fear from the tech teams about the complex data structures, and the data clean-up that is difficult to quantify in advance. That’s what research, analysis and leadership is for. ??Another barrier to start-up is the quality of the advice given at the start. There’s some companies who become trusted partners. There’s other who make decisions that leave a mess for people like me to sort out.