Tag Archives: Innovit

Say Hello To “PIM Lite” – A PIM System For Suppliers With A $100k Budget

“Data is King!”

Product data is one of the most valuable assets that a supplier owns.  Today we live in an e-Commerce world where suppliers must provide their product data to dozens, if not hundreds, of trading partners.  These trading partners take-in the product data, repurpose it, and display it on numerous channels for end-consumers to view, research, and purchase.  

Suppliers often have limited control of “how” trading partners display product data (beyond a supplier’s own website), but suppliers must have control of “what” gets displayed.  This is extremely important because the quality of product data, or often the lack thereof, directly impacts the brand image in the eyes of a buyer.  

Consumers today expect – not just appreciate – rich and trusted product content regardless of where they view it.  Suppliers that invest in providing rich and high-quality product data benefit by creating a “good” customer experience – leading to brand loyalty and more sales.  Remember that “Data is King” but also that “Data is Your Brand”!

Challenges of Providing Quality Product Data

Many suppliers understand the importance of product data, however, most struggle with managing it.  A Forrester study showed 86% of brands want to excel at customer experience, but only 27% of brands qualify as “good” in the eyes of their customers (Forrester – The US Customer Experience Index, Q1 2015).  A “poor” customer experience is usually the result of poor product data.  So why is product data so hard to manage?

Here are some common challenges that suppliers experience when managing product data:

  • Stored in an ERP system intended for transactional data, and not designed to manage and maintain product data
  • Stored in many disparate systems that aren’t integrated
  • Stored and maintained in Excel spreadsheets
  • Updated using manual processes that are susceptible to human errors
  • Manually validated or not validated at all
  • Department updates using manual internal workflow processes
  • Manually uploads for syndication to data pools (such as 1WorldSync Item Manager) and other trading partners
  • Not associated with rich assets like pictures, videos, brochures

What is a PIM?

To address these common issues, most large suppliers invest in a PIM (Product Information Management) system.  PIM systems are mission critical to create a single “source of truth” to aggregate, validate, maintain, and syndicate product data.  The result is high-quality data, efficient data governance processes, and automated data syndication.  These are huge benefits that ultimately help improve brand image and customer experience – things any supplier would be pleased by.  Unfortunately, PIM systems traditionally cost $400k to millions.  This has made it cost prohibitive for most suppliers to reap the benefits that come with a PIM system.  

Until now…

Introducing PIM Lite for Product Content Syndication

What is PIM Lite?

Long-time partners, 1WorldSync and Innovit, have joined forces to introduce PIM Lite.  PIM Lite is a pre-configured, entry-level PIM system for:

  • Small to medium suppliers (revenues under $1B) – Organizations that do not have the budget to afford a complex, highly-configured PIM system
  • Large suppliers where budget is gone – Organizations with limited funds left in the current budget cycle
  • Suppliers that prefer OpEx vs. CapEx – Organizations that desire a lower cost software subscription model with predictable cash flows

What are the benefits of PIM Lite?

PIM Lite brings immediate value by helping suppliers improve product data management processes. Benefits include: 

  • Eliminating spreadsheets, manual processes, and redundant data entry
  • Establishing a “source of truth” for product data and content relationships to manage and maintain product data in a single location.
  • Automating import of product data
  • Improving data quality with pre-configured validation rules.
  • Advancing data governance with basic PIM/MDM workflows and automating processes such as new products and product changes.
  • Syndicating validated product data thru an automated M2M XML connection to 1WorldSync Item Manager, and easily exporting product data to XML, Excel, PDF, CSV.

What is the cost of PIM Lite?

Fully installed, pre-configured PIM Lite system starts at $100k for Year 1 (includes implementation, software and “hybrid cloud” hosting), and $45k for subsequent years (includes software and “hybrid cloud” hosting).  

Implementation time is typically 8-12 weeks.  

Additional details available upon request.

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References

  1. The US Customer Experience Index, Q1 2015 – Forrester.” 6 Oct, 2016 <https://www.forrester.com/report/The+US+Customer+Experience+Index+Q1+2015/-/E-RES117482>

UDI: Generating Value Beyond Compliance

Getting to Good Data in the GUDID*

The United States Food and Drug Administration (FDA) regulation mandates that UDI data for Class I medical devices to be submitted with an impending deadline of September 24, 2020.  This has made medical device manufacturers on a global basis, readying their organizations for compliance. As a leading healthcare provider or manufacturer, do you find yourself asking yourself the following questions?

  • What is the scope of products impacted (exempted or not)?
  • What are my obligations under FDA UDI regulation?
  • How do I transform compliance into a competitive advantage?
  • How can I source my data from multiple locations, formats and systems, controlled by different functions?
  • How can I ensure the data I provide to the FDA is complete and accurate?

1WorldSync & Innovit Join Forces

Innovit,  a global provider of software solutions for PIM (Product Information Management), MDM (Master Data Management), GDSN (Global Data Synchronization) and Enterprise Workflow Management, and 1WorldSync™, the leading provider of product content solutions, possess a collaborative agreement to enable more robust product content capabilities for the medical device industry.

Whilst manual data entry or Excel spreadsheet upload may have been a viable solution for Class II & III submission deadlines, Class I poses a much greater challenge for labelers.  The sheer volume of products in this category makes manual submission methods too slow.  High product volume increases the burden of data collection, data cleansing and data entry to the GUDID.  The risk of failing to meet FDA’s deadline increases substantially.  

Innovit’s ‘UDI Multi-Connector’ is an automated, machine-to-machine data validation and submission system designed to address today’s needs for GUDID, as well as tomorrow’s needs for other global UDI recipients such as EUDAMED, NHS, and more.    

Whether your organization relies on a HIBC or a GTIN (or you’re looking for definitions on what those terms mean), 1WorldSync offers multiple solutions to send your data to the FDA. A primary benefit of submitting data through a 1WorldSync solution is that the data collected can be easily sent to other recipients, including GPOs, distributors, and other healthcare providers.

With the 1WorldSync UDI Solution, your business can prepare and validate medical device product information before the compliance deadline, giving you more time to focus on producing the quality products your customers and patients love.

One Process, One System and One-time Investment for Compliance. Advanced Readiness

Get ahead of the game and get back the time to focus on producing quality products your customers and patients love! For organizations manufacturing medical devices, 1WorldSync & Innovit experts can help organization prepare to meet the September 24, 2018 deadline through our comprehensive solutions.

Manufacturers can create a sustainable process to collect, manage, and distribute product content to all their UDI recipients, including FDA GUDID, EUDAMED, NHS, and others.

Make plans to visit Innovit and 1WorldSync at the UDI Conference taking place June 7-8 in Baltimore. Learn UDI implementation strategies and identify a sustainable process to successfully publish product content to the GUDID from our experts first-hand!

*GUDID – Global Unique Device Identification Database

1WorldSync and Innovit Support Local Community – CASA 5K

1WorldSync and solution partner Innovit are excited to co-sponsor a local community event for a worthy cause: the CASA Superhero 5K Race. 1WorldSync is committed to local communities around the world and focused on encouraging health and wellness within the organization.  With a similar mission, Innovit’s commitment to local community programs has always been a core to its values and business practices.  Partnering with 1WorldSync reaffirms this commitment to support focused programs that encourage health and wellness. Continue reading