Syncrasy Tech

From raw materials to online shelves, take control of your product data. Discover how open-source PIM empowers manufacturers & retailers. 

60% of companies think they’re providing a good mobile experience, but only 22% of consumers feel the same.

Customer Service Operation will Use Virtual Customer Assistants

Some studies actually indicate an even higher percentage customer service operations will be run by AI by 2020. According to Gartner, AI bots will power 85% of customer service interactions by 2020. Many in the customer service industry have voiced concerns that the adoption of AI will eliminate jobs. However, I don't believe that to be true. I believe that AI will be used as a tool to supplement and assist human agents. A full elimination of human agents is still a long way off.

Pimcore | Digital Experience Platform

Top Information of Product Management (PIM)

Consumerism is at its peak today. Be it any industry, any category, or any geographical location, there is a deluge of products. Although it’s important to keep pace with the ever-increasing demand for new range of products, it is also critical for businesses to efficiently manage and disseminate their product information.

Unlike conventional selling in stores, digital retailers relentlessly rely on the product’s information displayed on the webpages. Needless to say, it becomes critical for retailers to ensure that their product pages across all channels are continually furnished with correct and up-to-date information. And, the product page interface should be created in the most convincing and intuitive way possible. That’s where a highly effective PIM system can play a saviour for retailers.

It’s almost impossible to achieve this integrity and agility in distribution of product information without an efficient product data management system in place. Given the enormity of product catalogs, vendor multiplicity, and complexity of product details, the challenges of managing product information can be multifold. Identifying and addressing each of those challenges will help establish an effectual PIM system that can boost a company’s growth and success.

The Role of Product Information Management in Delivering a Great Omnichannel Experience

Rapid technology growth has changed the realm of retail industry. Shoppers are no longer confined to the four walls of a store. They are not only opting for digital commerce options but also demand a smooth and versatile digital shopping experience. This phenomenal change has sharpened the competition for retailers and manufacturers across all industry verticals. It's a challenge for businesses to attract and convert todays digitally empowered and highly demanding consumer.

Digital Shopper Wants Channel Consistency

Today's smart shoppers are making use of multiple channels and expect a uniform and highly relevant shopping experience throughout their purchase cycle. Consumers need a smooth shopping experience, whether they are visiting web shops, mobile apps, social media channels, digital marketplaces, or physical stores. They typically start a purchase on one device or channel and finish on another. And, if users find any inconsistency or conflict in product information during their cross-channel hopping, they're likely to back off without making a final purchase.

So, any sort of ambiguity in product information will lead to loss of sales and reduced customer loyalty for the business. Therefore, it's very important for businesses to make consistent and real-time information updates to make the shopping experience as cohesive and user-friendly as possible.

Organized Product Data Management is Critical for Brand Image

There is a dire need for businesses to not only tap various sales channels but also provide their customers with a seamless and unified shopping experience across all channels. It's imperative for retailers to provide a consistent brand experience across various consumer touch-points.

For businesses to stay abreast in this competitive arena, they need to provide a great omnichannel experience to the consumers. However, devising a successful omnichannel strategy is a daunting task for businesses.

With a large catalogue of products, and a rush to showcase them on multiple channels, it's easy for businesses to fall prey to product information chaos. Moreover, retailers typically collect information from multiple sources, rely on siloed departments, deal with ambiguity in cross-channel inventory, and have budget constraints to top it all. This complex collection and distribution approach may cause inconsistency or inaccuracy in product information between sales and marketing channels, leading to frustration and distrust among potential buyers. And let's face it, manually managing this enormous volume of data across various digital platforms is not practical and scalable.

Efficient PIM Can Drive Profitable Sales

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DXM Challenges and Solution by Syncrasy Tech