Online shops and digital marketplaces have a great variety of products – but what is good for the customer can spell difficulties for retailers, who must define common denominators for vast quantities of product data. Thankfully, the new self-service portal from novomind iPIM Supply is here to help.
Product data onboarding: The challenge for online retailers
In both B2C and B2B commerce, product experience management (PXM) gets the cash tills ringing – but achieving this is anything but easy. To offer first-class product experiences, retailers need to supply first-class product information, and this is where one of the biggest challenges facing digital commerce arises. After all, retailers need to do more than just combine huge quantities of data from a wide array of sources; this data must also be consolidated and transferred to the relevant product data model for their online shop or marketplace. This is a huge task that presents retailers and marketplace operators with immense challenges, not least because metadata stored by suppliers does not always conform to their own taxonomy (i.e. product categorisation).
This affects many B2B retailers in particular, given that the product information from their suppliers tends to be complex in the extreme. Alongside noting size, colour and final materials, the information contains precise material compositions and dimensions, detailed illustrations, information on possible uses as well as DIN standards (German Institute for Standardisation) and disposal regulations. Product data onboarding therefore demands a great deal of clarification and coordination work, especially as shop operators generally collaborate with a great many suppliers. This only increases the level of necessary coordination.
Reach your goal faster with AI-based product data mapping
Marcel Sauer, Product Owner PIM, Transa
Self-service portal facilitates product data onboarding
It is no wonder that so many product managers are nearing the limits of their capacity. Yet for some time now there has been a solution that supports efficient product data onboarding: novomind iPIM Supply automates data imports while delegating key onboarding tasks to suppliers. This reduces the workload on product managers while minimising the risk of transmission errors.
The new self-service portal from novomind iPIM Supply makes it all possible. Its user-friendly interface enables suppliers to enter and edit their own product data. This represents a major plus in view of fluctuating commodity prices and unstable supply chains. For example, changes to prices or availability can be conveyed to retailers with far greater speed and accuracy. Import templates with special data models make product data onboarding easier, while workflows and active reminders ensure communications with suppliers never grind to a halt. Need an example? Imagine a retailer notices that the data provided by a supplier does not meet their requirements. It only takes the press of a button to draw their attention to this via the self-service portal. This simplifies and speeds up communications between retailers and suppliers.
Top 5 advantages of product data onboarding from iPIM Supply
- Half the work, double the success
When you use the self-service portal from novomind iPIM Supply, you involve your suppliers in data maintenance. This cuts the risk of transmission errors, speeds up product data onboarding and ensures communication with your suppliers runs smoothly. - Performance makes perfect
B2B commerce is characterised by comprehensive product ranges, stringent compliance requirements and high quality demands. It is therefore essential to ensure your systems are not overwhelmed by mass data imports. novomind iPIM Supply provides the foundation for this, allowing you to import as many supplier catalogues as you want alongside millions of data records, with no loss of performance. - Quality is the best recipe
novomind iPIM Supply paves the way for top-quality product information. The solution synchronises supplier articles with existing product groups, identifies any duplications and automatically triggers error rectification steps as necessary. Moreover, quality gates serve to ensure your data quality management standards and requirements are always met – particularly valuable when dealing with large data quantities. - One for all
There is no doubt that a uniform database and standard classifications form the foundation of modern product information management. That said, not all suppliers use the same data formats. novomind iPIM Supply irons out these discrepancies, merging product information from different suppliers into a single ‘golden record’. - The smart way forward
Since product information management ties up vast resources in the B2B area, minimising manual tasks when onboarding supplier data is key. The new self-service portal of the novomind solution plays a part in this – and retailers are benefiting from the intelligent features of novomind iPIM Supply. For example, AI-supported attribute- and value-mapping and the automated extraction of product features from data sheets and marketing materials takes the pressure off product managers – leaving them free to focus on more complex tasks.
