A PIM platform plays a huge role in redefining how eCommerce businesses manage their product data. It brings a revolutionary change in reducing the dependencies on manual work, bringing down the excessive use of spreadsheets and legacy systems.
An eCommerce business would want to implement a PIM for various reasons and to accomplish different outcomes. The objectives could vary based on the business priorities, size, and industry.
So, does this impact the cost of PIM? The short answer is yes.
You can purchase a PIM software starting from a free 30-day trial, for $699 per month to $25,000 per year. The cost of product information management software is mainly influenced by the number of SKUs and your marketplace presence.
Are you curious about the potential factors impacting the PIM price, the various costs involved in implementing PIM, and the hidden costs associated with PIM?
Well, you’ll get to know all of these before you leave this page!
Before looking at the pricing of a PIM, you need to ask yourselves these questions and look at the business fit:
✅Which customer channels do most of your business come from?
✅Do your key channels accept data in standard templates or require complex templates, processes, or guidelines?
✅Are you looking for platforms that give better integrations without manual processes? These platforms can range from $1,000 to $2,000 per month
✅How many integrations does your business need?
✅Do your key channels accept data in standard templates?
✅Are you specifically looking for platforms that give flexible tools to manipulate and export data – These platforms can range from $500 to $800 per month
✅Are you cautious when you choose the platforms to see if they can help you expand and grow in the future? This is because a PIM implementation involves key business change, time, and effort. Choosing a provider who is too cheap or too expensive will hurt your business growth
✅Are you a larger enterprise where there may be a need for some customization and are you looking for platforms that are flexible to accommodate these at a nominal cost?
How much does a PIM cost?
As we discussed, PIM cost might vary depending on several factors. And generally, there are two types of costs that you need to deal with: One-time costs and Ongoing costs. Let us help you get a clear idea of what they are.
One-Time Costs
Yes, you are right. These are the costs that you will have to face only once, typically during the initial phase. You can think of them as the foundation for your Journey ahead. This could vary depending on the size and requirements of each business. The more complex the need is, the higher the cost will be! Let us break down and explore the one-time costs involved.
Conception Cost: The first and foremost step for anything we do is Brainstorming! This is where you need to figure out what exactly you want to achieve with your PIM solution. Either you can do your own research or hire a professional consultant to analyze the needs and gather requirements. The conception cost will cover the cost incurred through either of the options.
Evaluation cost: Once you get a clear understanding of your needs, you will think of choosing the best PIM for your business. This means you will be exploring the various PIM software available in the market. Evaluation costs include the time and resources that you spend on exploring the various options and attending demos and presentations.
Set-up Cost: Now that you have selected the right PIM for your business, the next step is to set it up for use. You might want to make the system compatible with your existing tools and databases to ensure a seamless performance. Again, the setup cost could vary depending on the complexity involved.
License Acquisition cost: Just like any other software, you need to buy a License to use the PIM software. There are many types of licenses available in the market, you need to choose the one that best fits you carefully. The cost will either be a one-time payment or recurring depending upon the type of license and the software provider. Choose wisely!
Customization and Implementation Cost: Every business is unique and will have its own needs and requirements. Yes, you can tailor your PIM to fit your specific needs. You might want to migrate your existing data, Integrate your PIM with other systems that you are currently using, program workflows, and add any new features. Customization and Implementation costs will cover all of these.
Ongoing Costs
Now that you have set up your PIM and started using it, it doesn’t end up there. You’ll need to budget your expenses to keep things running smoothly!
License Renewal Cost: As we discussed earlier, depending on the type of license you acquire, the license cost could be either one-time or ongoing. If you buy a rental license or a subscription-based one, you will have to pay the money at recurring intervals to continue using the PIM software.
Maintenance and Support Cost: Let it be any product, definitely some kind of maintenance is necessary! Similarly, PIM software will also need regular maintenance to ensure a smooth operation. This could be any bug fixes or software upgrades. PIM providers offer various support options like Email support, Call support, or even a dedicated account manager. Hence, the expense could vary based on your requirements.
Hosting Cost: You can host the PIM either on your own servers, rented servers, or even on a cloud platform. The cost involved will vary based on the storage space required, bandwidth usage, and the level of support you need.
Run Cost: Yes, this is the cost incurred for the seamless running of your PIM. This might include the support for integration or regular monitoring of the third-party channels for updates and implementation. This will again vary depending on the number of connections.
Hope you have gained a better understanding of the various costs involved. This will greatly help you in your decision-making, as now you can better analyze the options!
Let’s now understand in-depth the factors affecting the cost of a PIM solution.
9 Key Factors Affecting The PIM Cost
Here are some aspects a business looking to invest in a PIM consider:
1. Number of users of the PIM platform
Some PIM systems charge based on the number of users of the PIM platform. So, before investing in a PIM, understand who would be the end-users of the PIM platform.
It is always a good practice to map the users of the PIM (role) with the objective. This will give you a clear picture of the usage cost.
2. The complexity of integration
A PIM system, when integrated with your existing platforms and marketplaces can do wonders for your business. For instance, if you are selling on Amazon and Walmart online stores, a PIM can help you natively integrate with these platforms.
This integration can benefit you by having a two-way synchronization of all your data. When it comes to the cost factor, the complexity of integrating the PIM system with your existing software and the number of channels can influence the pricing.
If you have multiple software platforms that need to be connected, this can add to the expense.
Some of the PIM platforms charge based on the number of exports. This is because these platforms don’t have native integrations with marketplaces and channels.
Their data syndication is typically cumbersome and involves:
- The data has to be prepared manually to ensure that it complies with the channel or marketplace to which it is syndicated to. On average, preparing one data template for retail takes about 3-4 days and the effort costs around $500
- The mapping of data happens manually. The template is downloaded from the channel and uploaded back to the PIM platform (you cannot copy + paste column to column)
- Once the mapping is done, the template has to be uploaded back to the channel and this is generally not successful in the first go. You get errors, and run into a loop of endless re-work, creating and fixing the data errors losing a lot of time and money
How does PIMworks stand out?
PIMworks’ cost is based on the number of channels you publish your content on and not based on the number of exports. The advantage here is, that unlike a few other players in the market, PIMworks has pre-built templates for all the key channels and marketplaces that make automating and syndicating the product catalog content a breeze.
You don’t have to manually get the templates, it is configured already and ready to go. Your data also goes through a health check before syndication that helps you monitor and track the changes needed.
3. Features and Functionality
This is the most crucial factor that determines the cost of a PIM solution. There are platforms in the market that offer a vast range of features and functionality that can significantly affect the cost. More advanced and comprehensive PIM solutions tend to be more expensive.
If you have multiple stakeholders in the supply chain, like vendors, supplies, retailers, and others involved in contributing to your product information, managing the workflows could get a bit complex. In such scenarios, you need a PIM platform that can help you create seamless workflows and give your stakeholders granular access controls.
Another advanced feature is the integrations that we discussed. If you are looking at robust integrations, that could inflate the cost to a certain extent.
💡Do your syndication channels expect data in a certain way and constantly change the formats?
A lot of eCommerce businesses work with channels that demand data in a specific format. Not just that, these formats are subjected to continuous changes and you have to be assertive and proactive to keep up with these changes.
A platform like PIMworks can help you with data preparation and ensure that you stay compliant with the periodic changes.
4. The level of customization
Every eCommerce business and its needs are different. For instance, an eCommerce business would want specific fields in their product catalog to meet the unique requirements of their business or specific taxonomy classification.
If you need extensive customization to tailor the PIM system to your unique business requirements, this can increase the cost. The more you customize the PIM platform to meet your unique needs, the costlier it could get.
5. The volume of data and the no. of SKUs
An eCommerce giant with huge volumes of product data needs a PIM platform that is scalable. The amount of data (SKUs, product information, media files, etc.) that the PIM system will manage can impact the cost.
Online websites with high data volumes often require more powerful infrastructure that could potentially impact pricing.
6. Support and maintenance
A PIM platform needs ongoing support and maintenance. There are a variety of modules in a PIM that need extensive training, updates, and more.
Some PIM systems offer additional modules or extensions for functionalities like data quality, digital asset management, or workflow automation. Purchasing these modules may increase the overall cost.
7. Pricing models
- Usage-based pricing: Some PIM systems may charge based on the amount of data you store or the number of API calls or data transactions.
- Custom pricing: For larger enterprises or unique requirements, custom pricing may be negotiated with the vendor based on your specific needs.
Each PIM provider has their own approach and has different PIM Pricing Models. Some may charge based on the number of users, SKUs, or integrations, while others may have tiered pricing plans.
To get a better understanding, let’s review the two different pricing models offered by PIMworks.
| Features | Standard | Professional |
| PIM | Yes | Yes |
| Channels | 1 | 3 |
| SKUs | 25,000 | 100,000 |
| Export & Imports | Upto 50 | Unlimited |
| Native APIs | 1 | 5 |
| DAM | Yes | Yes |
| Storage | Upto 100 GB | Upto 1 TB |
| Deep Marketplace & eCommerce integrations | Yes | Yes |
| Instant syndication | Yes | Yes |
| Auto classification | Yes | Yes |
| Automated data enrichment | Yes | Yes |
| Channel integration | Yes | Yes |
| Workflow Task Management | Yes | Yes |
| Product Training | Yes | Yes |
| Product approval workflow | No | Yes |
| Real-time shipping cost calculations | No | Yes |
| Brand-specific data management | No | Yes |
| Powerful rules engine | No | Yes |
| Customer support | Email support | Email support &Dedicated Account Manager |
We at PIMworks, also provide completely customizable solutions depending on your requirements.
8. Free and Open Source
Some PIM systems are open-source or have free versions with limited features. However, these may require more in-house development and support.
9. Level of automation and AI
A PIM platform can be modern and advanced with AI features for data enrichment. While a lot of PIM players don’t offer advanced features to create catalogs at speed and with accuracy, the ones that do might offer this feature at a price. How do PIM platforms help you leverage AI:
- Let AI write product descriptions
- Use AI to complete the missing information in your catalogs
- AI-driven language translation tools can help in translating product information into multiple languages
- AI can monitor competitor activities and pricing strategies
- AI can be used to automatically identify and correct data inconsistencies
Hidden Costs of PIM
While investing in a PIM, there could be some additional costs businesses may not have initially thought of that could increase PIM expenses.
Here are a few aspects that could be hidden or unknown at the time of investing in the software:
- Professional Services (consulting, training, customizations)
- Support Services
- Adding new channels
- Data quality management
- Maintenance and scalability costs
Analyzing and mitigating these hidden costs will help you make informed decisions. To avoid these hidden costs, clearly define the needs and identify the features required for your organization. Make sure, you clearly discuss the pricing details with your PIM provider to ensure transparency, avoiding unpleasant surprises.
Final thoughts
Understanding the cost of implementing a PIM solution and analyzing its potential value is a huge step toward effective product data management. As we discussed, PIM costs can vary depending on multiple factors like the choice of software provider, Number of SKUs and users, and the complexity and scale of your business needs.
Investment in a PIM system is a strategic decision that can bring significant benefits over the long term. The series of costs involved in implementing a PIM might appear to be a maze of expenses. But with careful consideration and planning, you can reap your fruit very soon.
To make an informed decision, consider your specific needs, budget, and long-term scalability needs.
Interested in seeing how PIMworks can elevate your Business strategy?
Schedule a free demo today and discover the difference.
FAQs
The cost of a PIM system typically includes software licensing fees, implementation costs, ongoing maintenance, and support fees. Additionally, costs can be influenced by the size and complexity of your organization and the PIM solution you choose.
PIM costs can vary significantly based on the size of the business. Small to mid-sized businesses might opt for a PIM that can just be a single source of truth for all their product data while a large business may choose a PIM with more advanced features like native integrations, syndication capabilities, and more.
Ongoing maintenance costs typically include software updates, technical support, and infrastructure costs.
Yes, there can be hidden costs, such as data migration expenses, integration with other systems, and training for employees.
Clearly communicate your needs and requirements with the PIM provider to uncover all the possible expenses that may arise throughout the Journey. Also, make sure to clarify the pricing and contract terms before making a decision.
