LEGAL EAGLE Paulina Yankova has come a long way since arriving in the UK from Bulgaria.
The 18 year-old and her family relocated to Chester shortly before the country went into lockdown in 2020.
Due to the Coronavirus pandemic, she was forced to complete her GCSE studies online, as well as learning English via the internet.
Now, after taking A Levels at Coleg Cambria’s Deeside Sixth Form Centre in Connah’s Quay, Paulina is about to begin a degree in Law at the University of Manchester.
She has excelled as an EAL (English as an Additional Language) learner and achieved an A* in Psychology, an A in Law and a C in Information and Communications Technology (ICT).
On top of that Paulina, who hails from Burgas, completed the Welsh Baccalaureate (Skills Challenge) certificate with an A.
“My parents came over here to work but also wanted to provide me with more opportunities,” she said.
“We arrived just before lockdown so I only had a short amount of time in high school before remote learning began, I had to teach myself a lot.
“It was when I arrived at Cambria that I really began to improve my English – mostly through videos online and lots of sleepless nights! – and they had so many of the subjects I was really interested in.”
Paulina added: “Everyone at the college has been so supportive, I could not have done this without them.
“I was struggling but as soon as I came here it really built my confidence and improved my grades.”
“I now hope to go on and work in the law and would like to again thank all of the staff at Deeside for helping me get here – I am so happy.”
For more on this year’s A Level results visit www.cambria.ac..uk and follow the college on social media.
In today’s rapidly evolving financial landscape, Banking-as-a-Service (BaaS) has emerged as a transformative model that empowers businesses to provide seamless and innovative financial solutions. BaaS enables companies to extend their offerings beyond traditional banking and presents a wealth of opportunities for revenue generation. In this article, we will delve into some strategic approaches that BaaS providers can adopt to monetize their services effectively.
Subscription-based Models: The Gateway to Recurring Revenue
One of the most common strategies for monetizing banking-as-a-service is through subscription-based models. BaaS providers can offer tiered subscription plans that cater to different customer segments based on their needs and preferences. These plans may encompass a range of features, from basic account management to more advanced financial tools, analytics, and customer support. By offering value-added services under different subscription tiers, BaaS providers can ensure a steady stream of recurring revenue while allowing customers to choose the level of service that best suits them.
Transaction Fees: Profiting from Usage
Transaction fees are another effective way for BaaS providers to generate revenue. By charging fees for specific transactions, such as transfers, payments, and foreign exchange, providers can create a revenue stream directly tied to usage. This approach encourages customers to engage with the platform actively while compensating the BaaS provider for facilitating their financial activities. Careful consideration should be given to pricing these transaction fees competitively while maintaining a balance between affordability and profitability.
Licensing and White Labeling: Empowering Fintech Partners
BaaS providers can explore licensing and white labeling their technology to other fintech companies or even traditional financial institutions. This approach allows other businesses to leverage the BaaS provider’s infrastructure, APIs, and capabilities to enhance their offerings. Licensing agreements can encompass a range of terms, from upfront fees to ongoing royalties or a combination of both. By extending their services through partnerships, BaaS providers can tap into new revenue streams while expanding their reach within the financial ecosystem.
Value-added services are an effective way to monetize BaaS while enhancing the overall customer experience. BaaS providers can offer premium features such as personalized financial insights, budgeting tools, investment advice, and more as standalone offerings or as part of higher-tier subscription plans. These value-added services provide an additional revenue source and create a stronger bond between the provider and its customers, fostering loyalty and long-term engagement.
Data Monetization: Leveraging Insights for Profit
Data has become a valuable commodity in the digital age, and BaaS providers can capitalize on this by offering data-driven insights to their customers. By anonymizing and aggregating transaction and financial data, BaaS providers can generate valuable analytics that can benefit businesses, investors, and even researchers. These insights can be offered as premium reports, market trends, or customized data dashboards, with pricing structures based on the level of access and depth of analysis provided.
Partnering with Developers: The App Ecosystem
BaaS providers can cultivate a vibrant ecosystem of third-party developers by providing access to their APIs. This enables developers to build applications and services on top of the BaaS platform, expanding its functionality and potential use cases. In return, BaaS providers can charge developers for API usage, creating a symbiotic relationship where both parties benefit from each other’s strengths. This approach can lead to diverse applications that drive engagement and revenue for the BaaS provider.
Navigating the Path to Profitability in BaaS
Monetizing Banking-as-a-Service requires a strategic approach that balances revenue generation with providing value to customers. BaaS providers, like OpenPayd, can explore a combination of subscription-based models, transaction fees, licensing, value-added services, data monetization, and developer partnerships to create a diversified revenue stream. By tailoring their offerings to meet the needs of different customer segments and fostering a culture of innovation, BaaS providers can navigate the path to profitability in the dynamic and competitive landscape of financial services. As BaaS continues to reshape the financial industry, those who adeptly harness its potential for monetization stand to thrive in the digital economy.
We’re Wallbreaker, a corporate video production company that produces ground-breaking, emotive videos that will get your ideas and products into the minds of the right people.
If you’ve been wondering how we do such a great job of creating advertising videos that sell you’ve come to the right place. We’re about to share some industry secrets and top tips on creating an advertising video that packs a punch.
You don’t just want to capture the attention of your audience, you want to create a lasting impression and ensure your audience is thinking about you and your product throughout their day.
This is how you turn viewers into customers, and hopefully, repeat customers who will supercharge your business through positive word of mouth.
All of that is from one short, expertly shot advertising video.
So, how do we do it? By the way, the collaborative ‘we’ includes Ash Wilks Operations Director & Video Producer, Luke Winter – Creative Director, Joe Kershaw – Video Producer, and Ronnie Bushell – Head of Post-Production.
We’re a committed team with a passion for videography and the skills and ability to create amazing visuals time and time again. In other words, you’re in good hands.
Don’t just take our word for it though, check out our portfolio.
Okay, time for the tips:
Research your audience
It’s easy to presume you know who your target audience is. However, have you done your market research? Use Google Analytics to find out who your audience is, this will highlight the age, gender, and demographic that you should tailor your advertising towards.
You may also wish to do keyword research to see what your prospective customers are searching for, this along with knowing your best sellers will allow you to showcase the best products in your advertising campaign.
Tell a story
Humans have an innate desire to connect. Advertising videos that tell a story and provoke emotion are more likely to resonate with viewers and therefore are more memorable.
Think of your video as a narrative that takes your viewers on a journey. A great way to present your products is by showing them as the ultimate solution to a problem. Depending on your brand you may wish to introduce humour or drama into the mix.
Examples:
The scene is a dull party, then the host brings out the perfect spirit and all of a sudden the party livens up, she’s the host of the year.
A child struggling to score a goal at playtime. Their mum gets them a new pair of trainers and they score the winning goal.
Someone is full of cold and thinks they’re going to be in bed for Christmas. However, once they’ve taken a super-strong flu tablet they’re up out of bed, running downstairs for a slice of turkey.
These video ideas tell a story, provoke emotion, include humour, and could resonate with an audience. Showing your product in a humanistic way can help your audience envisage themselves using it.
Short and simple
The first few seconds of your advertising video can be make or break. Advertising videos should showcase your brand as early as possible. Start your ad with an interesting visual, thought-provoking question, or surprising statement.
We’re a generation of people with short attention spans. Video Ads perform best when they’re between 15-30 seconds.
However, if you have a history of high engagement and the video is captivating you could opt for a longer length. Every second of your advert should add something to the overall appeal of your business or product, so trim the fat and focus on key points that will keep your audience engaged.
It’s a video ad, make the most of visuals
Instead of listing the features of your product or explaining what is attractive about your brand, show it in action. Demonstrate how your product or service can improve the lives of your target audience.
Show before and after comparisons or demonstrate the unique features of your product. Visuals will always speak louder than words. Instead of stating your hoover has a nozzle specifically designed to combat hard-to-reach areas, show it cleaning behind an L-shaped sofa.
Think about background music
Music can help to set the tone and overall mood of your ad. You should pick music that complements the message you’re conveying. The right music will enhance the emotional impact of your video.
Music can help to make an ad more memorable, especially if your audience gets a tune stuck in their head, or starts to associate a song with a certain brand.
Think of Justin Timberlake – ‘I’m loving it’ and Mcdonalds, a classic. Ensure you have the correct licensing to use specific music in your ads.
Don’t forget a call to action
Once you’ve captured your viewers’ attention with a compelling story and fantastic visuals it’s time to seal the deal with a strong call to action. Tell the viewers what they should do next.
Visit your website, pop in-store for a fantastic discount, and sign up for a free trial, whatever it is it should be clear, concise, and compelling.
Test, test, test
Test different versions of your video, switching out visuals, messaging, and CTAs to see which works best for your audience. Use analytics to track the performance of your videos, which parts seem to speak to your audience, and which ones are causing people to move on swiftly.
These insights allow you to refine your approach and come up with ideas that continuously improve in effectiveness. At Wallbreaker we can help you every step of the way.
Let’s have fun
Creating advertising videos can be serious business but we love to have fun with it and remain authentic. Authenticity is a magnet for viewers. It’s true that if your advert comes across as genuine and relatable, viewers are more likely to gain trust in your brand before using it.
At Wallbreaker, we love to see your brand’s personality shine through. Making sure our videos are persuasive but enjoyable to watch.
We hope these tips have helped you understand what goes into creating an advertising video that sells. Of course, great equipment, lighting, and strategic product placement all play a massive part, but, there is much more than the tech to take into consideration.
For more information on how to create an advertising video for your business don’t hesitate to get in touch with a member of our friendly team on 01522 305376 and let’s tell a story together.
FRIENDS Ruby Booth and Celyn Jones are in the market for a higher education after achieving successful A Levels results.
The former St Joseph’s High School pupils will go on to study Business and Marketing degrees at university following two years at Coleg Cambria Yale in Wrexham.
Ruby (pictured) secured a A* in Business Studies, A in History, B in English Literature, and the Welsh Baccalaureate (Skills Challenge).
She will now begin a degree in Business Management at the University of Birmingham, with a placement year in industry.
“I’m not 100% sure what I would like to do with my career yet, perhaps an executive working in private equity or strategy consulting, for now I am just delighted to be starting this new chapter in my life,” said Ruby.
“I would like to thank my lecturers at Cambria, whose support and dedication helped me prepare for A Levels to the best of my ability.
“The college played a big part in developing my independence, and initiative, which will no doubt assist in my future studies.”
Meanwhile, Celyn received a B in Business Studies, B in Art and B in Maths and will now attend the University of Worcester to study for a degree in Digital Marketing.
Her dream is to work in marketing management at a creative agency in France.
“I’m so happy with my results and would like to thank Coleg Cambria, everyone has been brilliant and the support I had was always amazing from lecturers and staff,” said Celyn.
“I would especially like to thank my Business tutor Mel Henry for her guidance, from the beginning of the course all the way to the end. My continued motivation and results have a lot to do with her – thank you!”
Visit www.cambria.ac.uk for more A Levels news and information from Coleg Cambria.
Stirling Distillery has today announced the latest recognition for their award-winning distillery, earning a coveted 2023 Travellers’ Choice Award from online travel website Tripadvisor.
The award supports the distillery’s goal to be recognised as a top tourism destination in the city and marks the second success for their visitor experiences in 2023, having recently picked up Visitor Attraction of the Year at the annual Stirling Business Awards.
Travellers’ Choice Awards celebrate businesses that have consistently received great visitor reviews on Tripadvisor over the last 12 months, with the distillery earning over 700 five-star reviews since opening its doors back in 2019.
Situated in the heart of Stirling on the city’s castle rock, and housed within a renovated building which is said to be the location used by King James VI to stable his horses, the historic distillery produces a range of award-winning gins and whiskies alongside the industry-leading visitor experiences.
Distillery Manager Elle McCann shared her pride in the growth of the attraction over the last 12 months:
“Everyone at the distillery has worked incredibly hard since we opened to continuously develop and grow our experiences into an industry-leading product for visitors to Stirling.
“With the number of guests we’ve welcomed doubling in 2023, this award is a testament to our team of passionate tour guides who work hard to tell the rich history and folklore of Stirling and give guests a truly unique taste of our city.”
John Boris, Chief Growth Officer at Tripadvisor, offered his congratulations to all award winners:
“Congratulations to the 2023 Tripadvisor Travelers’ Choice winners. The travel resurgence we’ve seen throughout the past year has even further heightened the competition. Earning a Travelers’ Choice Award demonstrates that you have provided great experiences to those who matter most: your guests.”
“With changing expectations, continued labour shortages, and rising costs, this is no easy feat, and I am continually impressed with the hospitality industry’s resilience and ability to adapt. Cheers to another successful year!”
Stirling Distillery, established in 2015, is steeped in Scottish history. Located in the shadow of Stirling Castle, central Scotland, it is the city’s first legal distillery. Offering a range of award-winning gins and whiskies celebrating Stirling’s rich history, the distillery is open daily for gin experiences, tastings and a weekly gin school.
Clearer approach to corporate reporting key for better decision-making and reporting on risks
ACCA (the Association of Chartered Certified Accountants) says that non-financial reporting is essential for better decision-making by managers, investors and wider stakeholders.
A coherent non-financial reporting framework will support organisations in understanding and reporting on wider risks and opportunities, as well as the macroeconomic, socioeconomic and environmental trends that may impact upon their organisation. This will support stakeholders’ ability to understand how to create value in the short, medium and longer-term using a multi-capital approach. Reporting on these issues enables stakeholders to assess the resilience of an organisation in a changing landscape.
In a response to the Department for Business and Trade and the Financial Reporting Council call for evidence on Smarter regulation non-financial reporting review, ACCA says the current non-financial reporting landscape has grown up as a result of differing demands which are not connected. It says that the existing reporting framework does not provide companies, investors and stakeholders with the information required in seeking information to support more sophisticated decision-making that is not focused solely on financial return.
Smarter regulation is the answer. Changes in reporting are key in driving prosperity and maximising investment opportunities, ACCA said in its response.
Glenn Collins, head of technical and strategic engagement, ACCA UK, says: “Good quality non-financial reporting is essential in demonstrating value drivers beyond financial performance. These include intangibles which are not recognised on balance sheets. Innovative processes, know-how and corporate culture are fundamental to economic success and decarbonising but are not currently represented within a comparable framework.”
Joe Fitzsimons, senior manager, policy & insights, ACCA UK & EEMA, said: “Company reporting on this wide range of issues enables stakeholders to assess the resilience of an organisation in a changing landscape.
“Non-financial reporting is also key to achieving global sustainability goals, and UK ambitions such as those on decarbonisation and biodiversity. Developing a reporting framework which supports the provision of data and information to monitor progress ensures that targets can be monitored, and to ensure that appropriate interventions are made.”
ACCA calls on the government to align with international developments in this area. ACCA says that the global non-financial reporting landscape is changing rapidly. It is important to ensure that any revisions to the UK landscape are not at odds with wider global reporting developments such as the work of the International Sustainability Standards Board (ISSB).
Glenn Collins said: “Developing a nuanced UK-specific reporting regime may reduce comparability of entities operating within the UK market and may deter investment and the ability to compare UK entities across a global and comparable baseline. In addition, diversions from wider reporting regimes, such as those appearing within the EU (for example the EU Taxonomy) may result in duplication and complexity.”
ACCA also called on the government to ensure that reporting obligations are proportionate to the size and complexity of an organisation, including the use of stepped-based reporting requirements.
Nutanix has today announced the Nutanix Carbon and Power Estimator, a new tool to help organisations understand how different factors can influence their environmental footprint by estimating annual power and emissions for various Nutanix solutions using Nutanix Validated Designs. Nutanix software and solutions can help organisations meet power and carbon goals by optimising IT infrastructure through reduced footprint, on-demand resource scaling, and fast and easy workload movement between on-prem and cloud options.
According to the 5th Annual Enterprise Cloud Index, for 92% of IT decision makers sustainability is more important today than it was a year ago — a development driven by an increasing number of pending and imposed regulations globally that add to the heightened interest in this space. As sustainability comes into view for many enterprises, they seek strategies to reduce their environmental impact. One of the first facets of the business that leaders evaluate when looking to minimise environmental impact is IT, where changes in equipment or practices have the potential to make significant impacts when it comes to energy consumption and emissions.
The Nutanix Carbon and Power Estimator provides users with a report that helps illustrate how infrastructure choices can impact an environmental footprint with regard to power and emissions, with insights for developing more sustainable IT strategies. Based on user inputs regarding workloads, the efficiency of the data centre, and location, an organisation can conceptualise how IT choices can help them meet their sustainability goals.
“Understanding what drives carbon and power consumption is an important first step for many enterprises looking to advance on their sustainability journey,” said Sammy Zoghlami, SVP EMEA at Nutanix (pictured above).
“The Nutanix Carbon and Power Estimator can help enterprises take initiative by educating organisations on factors that can influence their environmental impact.”
The Nutanix Carbon and Power Estimator enables organisations to:
Estimate the effects of different factors on power and emissions for Nutanix solutions.As an example, with the Nutanix Carbon and Power Estimator, a user could see that if an organisation deploys Nutanix Cloud Infrastructure for a general virtualisation use case with 300 virtual machines (VMs) in a U.K. data centre with a Power Usage Effectiveness (PUE) of 2.0, it would generate an estimated 68 metric tons of carbon dioxide (MTCO2) annually. If, on the other hand, the organisation was able to find a way to bring the data centre’s PUE down to 1.5, this change would reduce the emissions estimate by 17 MTCO2to 51 MTCO2.
Account for geography, which can also play a major factor in sustainability.The Nutanix Carbon and Power Estimator demonstrates the impact of moving workloads to geographies that leverage low carbon sources for energy generation compared to fossil fuels, which have a higher carbon intensity. For example, if the same general virtualisation use case described above, with the reduced PUE of 1.5, were moved to a data centre in Sweden, then the estimated carbon emissions would drop from 51 MTCO2 to just two MTCO2. This is because Sweden leverages a relatively high share of low carbon energy sources to power its grids. The Nutanix Carbon and Power Estimator makes clear that migrating workloads can be a viable part of an organisation’s sustainability strategy.
Compare power consumption of Nutanix’s hyper-converged infrastructure (HCI) and 3-Tier (SAN-based) infrastructure.After using the Estimator, users can download a report that highlights how eliminating proprietary SAN components can help reduce power consumption. Based on a third-party reviewed methodology, Nutanix HCI demonstrated significant power savings compared to 3-Tier solution with the ability to run a similar workload.
Because every customer configuration is unique, the Nutanix Carbon and Power Estimator provides typical estimates that are generalised to help customers develop sustainability strategies rather than to provide exact usage figures.
Simon Sowerby, Technical Services Coordinator, City of Unley shared: “Our previous three-tier system consisted of about ten racks of compute equipment, and we have been able to reduce that to a quarter rack. Our power expenses have come down about 70%, which is working out to tens of thousands of dollars – and 24,000kg of CO2 emissions – saved per year.” For more details, read the case study here.
Explore the Nutanix Carbon and Power Estimator here.
COLEG CAMBRIA leaders praised students for rising above post-pandemic challenges to achieve “outstanding and inspirational” A Level and BTEC results.
Chief Executive Yana Williams said overall figures including A*-C grades were “fantastic” and pointed to the resilience of learners in successfully transitioning from secondary school to college during lockdown and going on to successfully complete their studies.
“We are proud of the students, they have risen to overcome the challenges of the last few years and once again demonstrated hard work and a focus to do their very best, with the support of our amazing staff and tutors,” said Ms Williams.
“They have shown great fortitude and managed to secure outstanding and inspirational results across the board.
“We are pleased for them and hope they go on to live full and happy lives, personally and professionally – they will always be part of the Cambria community.”
Principal Sue Price congratulated everyone receiving their grades today (Thursday) and said they look forward to welcoming the next influx of learners to Deeside, Northop, Llysfasi and Wrexham following next week’s GCSE results.
“The students have done brilliantly this year, they are a credit to Coleg Cambria,” said Mrs Price.
“While we reflect on the achievements of our A Level cohorts – who have been magnificent – we also look ahead to the coming months and the pupils joining us from schools across the region.
“On behalf of everyone at Cambria I would like to thank the students, their families and our community for their support and well done again on such an amazing outcome in the face of so many obstacles – we are proud of you all.”
For more on Coleg Cambria’s A Level and BTEC results, visit www.cambria.ac.uk.
Veteran sports bettors who were placing wagers before the internet came along will likely remember having access to a variety of key stats. For instance, baseball bettors could open their morning newspapers and glean information like the ERAs, win/loss records, batting averages, and a few other basic stats. If you were really serious, then you might have subscribed to one of those weekly or monthly betting primers that offered more in-depth stats.
While these statistics were helpful, they were quite limited. That changed with the introduction of the internet. It took some time, but sports bettors started having access to a vastly larger pool of information and statistics. So, does the availability of big data give punters an edge when they wager at sports betting verticals at online casinos that accept bank transfer?
Bettors Can Make More Accurate Predictions if…
There is no doubt that knowing and understanding advanced stats like BABIP, P/PA, wRAA, and ISO can help baseball bettors make more informed and accurate predictions. It is similar to how stats like Corsi, GSAx, and GF/60 help hockey bettors or how modern NFL bettors refer to TotalQBR, DVOA, and WPA.
While having all of this information at your fingertips is a very good thing, you have to know how to use it. Those who make sense of the numbers and effectively incorporate them into their betting formulas can make more accurate predictions. On the flip side, haphazardly plugging random stats and figures into a formula could easily lead to disaster.
Oddsmakers Have Access to Big Data Too
Let’s say that you have all of the fancy stats in the world available in real-time. You have also come up with a promising betting model that instantly crunches those complex stats and spits out predictions. This would be a sports bettor’s fantasy come true.
The thing is, you have to realize that the oddsmakers also have access to big data. Not only that, but they certainly have a thorough understanding of how to use that information. This is why you see far fewer weak lines and exploitable odds these days. Even though online sportsbooks post thousands of propositions every day, the odds are almost always ultra-sharp.
It is true that savvy bettors who make best use of big data gain an advantage in terms of their predictions. Just remember that the bookmakers have the same information and more. They also build vig into their odds. Thus, any perceived edge is smaller than you may think.
All Sports are Susceptible to Unforeseen Random Events
AI and machine learning have become so advanced that they have revolutionized how sports are played. For instance, a coach can feed video clips of players into a computer to find specific strengths and weaknesses. A coach can also use this type of technology to assign optimum offensive and defensive strategies in any situation. One could argue that artificial intelligence will one day make human coaches obsolete.
Even though big data and AI can make more accurate predictions, they still can’t anticipate those unpredictable X-factors that so often influence the outcome of a match. Mark Sanchez’s butt fumble, the homerun off of Jose Canseco’s head, and Jim Marshall’s wrong-way run into his own endzone are some of the more famous examples of the unpredictable randomness of sports. You get whacky bounces, bad calls, injuries, and all sorts of other surprises like those Stop Oil protesters storming the field.
Be Careful What You Wish For
All sports bettors dream of having that Holy Grail of betting formulas. It would even be better than having that sports almanac from Back to the Future. However, what would happen in a world where the outcome of any competition could be predicted with 100% accuracy? That includes foreseeing all of the random events mentioned above. Well, it’s safe to say that being a sports fan would become rather boring.
With bettors and bookies having near-equal access to such powerful weapons as big data and AI, we could eventually be looking at a case of mutually assured destruction. After all, if punters started hitting 100% of their sports bets, then the sports betting industry would likely crumble and cease to exist. That would be an ironic twist.
In the rapid-paced digital environment of today, managing product data and assuring a smooth customer experience across numerous sales channels are significant challenges for businesses. This is where Product Information Management (PIM) software steps in. PIM provides a centralised solution to collect, manage and spread product information, to enable retailers, manufacturers and distributors to prosper in a competitive e-commerce setting.
With businesses increasingly depending on digital platforms to sell products, effective product information management becomes a strategic challenge. A robust PIM system enables organisations to optimise their product data, enhance customer experiences and maintain a lead in the continuously evolving e-commerce landscape. By adopting PIM, businesses can tap into the potential for improved productivity, heightened revenues and enduring success in the digital marketplace.
What is a PIM and why is it needed?
Product Information Management (PIM) software serves as a single source of truth, amassing product data and digital assets from several internal and external sources. With a PIM system, businesses can collect, update and enrich product information, assuring consistency and accuracy. PIM simplifies the procedure of publishing product data to various sales channels, affording customers and teams access to the information they require. If you retail products online and confront challenges such as managing complex product hierarchies, relationships and variants, implementing a PIM solution can be transformative.
Key data in a PIM system
A comprehensive PIM system stores various types of product data, including basic information, technical specifications, taxonomies, marketing data, digital assets, and localised data for global markets. This data establishes the foundation for creating engaging and personalised online experiences for customers, ultimately leading to an increased customer lifetime value.
Why is PIM significant for different types of businesses?
PIM is a versatile tool that benefits a variety of businesses:
Manufacturers can provide high-quality product data for superior customer experiences, especially with the trend of D2C sales.
Brands can guarantee consistent product data across multiple sales channels, cater to international markets with localised data and create compelling product experiences to stay competitive.
Distributors can effectively manage enormous volumes of product data across different channels, ensuring the quality of product information published to drive sales.
For retailers and marketplaces, PIM acts as the central hub for product information, and enables personalised experiences.
Advantages of a PIM system
The implementation of a PIM solution offers several significant advantages for businesses:
Quicker time to market
PIM streamlines data onboarding and automates processes, offering a competitive advantage and more selling days.
Efficient product management
With PIM, businesses can effortlessly create new product categories, react to trends promptly and manage complex products and relationships.
Enhanced customer experience
PIM enables personalised experiences, resulting in increased average order values, and improved customer satisfaction.
Accurate and consistent data
PIM ensures up-to-date and accurate product information, reducing mistakes and building customer trust.
Compliance with market-set data standards
By adhering to industry-set data standards through PIM, businesses can increase their market reach and become more compatible with various partners and channels. This can lead to better business opportunities and expanded customer base.
Comparing PIM with alternatives
While ERP, PDM, Microsoft Excel and MDM systems may handle product information partially, they lack the comprehensive capabilities of a dedicated PIM system. PIM excels in managing applied product information, providing flexibility, effective publishing and seamless integration with other systems.
Selecting the right PIM
Choosing the correct PIM system necessitates understanding organisational requirements, aligning stakeholders and evaluating the current IT architecture. A compelling business case, demonstrating the direct and indirect benefits of PIM implementation, is crucial to gain support from key decision-makers.
