Stibo Systems, the global leader in multi-domain Master Data Management (MDM) solutions, has received a Leader ranking according to The Forrester Wave™: Product Information Management (PIM), Q2 2014. In Forrester Research, Inc.’s 19-criteria evaluation of product information management (PIM) vendors, Stibo Systems was considered one of the most significant providers in the category and was evaluated based on three areas; current offering, strategy and market presence.
Stibo Systems earned the highest scores possible for its target market and enterprise track record, partner network, professional services and vendor-provided services. Additionally, the company earned the highest scores among all vendors for market presence, which was partially based on its scores for revenue and customer growth.
Key Takeaways From the Forrester Report Include:
- “Stibo Systems excels in integration with real-time systems, providing a multitude of transport and format options. Web service APIs based on SOAP and REST come out of the box and stay tightly coordinated with data model changes. Workflow management and tracking is standard to support the creation of product catalogs…”
- Stibo Systems’ inclusion in the report was due to its marketed standalone PIM enterprise application with unique capabilities that allow customers to validate source, market and promote, produce and sell, and support and retire products. Additional evaluation criteria included Stibo Systems’ focused product road map that aligns with the direction of the market and emerging scenarios tracked by Forrester and its ability to support product data in a broader MDM solution including its rich support for the unique needs of retailers, distributors, CPG firms, and manufacturers.
- Forrester has observed a considerable uptick in client inquiries asking about how PIM solutions can replace manual processes and home-grown tools. In a recent survey, Forrester found that 33 percent of eBusiness and channel strategy professionals cited that an investment in PIM technology was a top priority. Common scenarios that lead customer-obsessed organisations to invest in PIM include the need to have a single view of trusted customer-facing product data, reduce time-to-market for new product launches and to support larger product catalogs.
- The PIM market is growing as marketing pros look to exploit the digital business. “Mobile, eCommerce, and online channels are where customers go to get information about products. Increasingly, marketing is going digital to be where customers are. To communicate accurate and consistent product information across an omni-channel landscape, they need a PIM solution to overcome the scale and complexity digital channels create.”
- ”Retailers are prioritising the enhancement of online product content above other merchandising initiatives including personalisation, product recommendations, and A/B testing. Why? Detailed product content is a differentiator when it comes to customer experience.”
Forrester Research Quote:
"Customers appreciate the experience and responsiveness of Stibo Systems to help with the technology as well as their ability to provide best practices to manage and govern product data,” wrote the report’s authors, Peter Sheldon and Michele Goetz. “Stibo Systems rapidly deploys new functionality to meet market demands … In general, customers are happy they can start small and scale the solution over time as the volume of their products increase.”
Stibo Systems Quote
“High-quality product content is of critical importance as consumers continue to spend more time researching product purchases online. We’re also seeing more and more industries looking to exploit and share product information with customer and suppliers across a growing number of channels and devices,” said Mikael Lyngsø, Chief Executive Officer at Stibo Systems. “Stibo Systems enables some of the world’s most recognised brands achieve a single, consistent view of master data across the enterprise and deliver significant operational efficiencies that improves business performance.”
About Stibo Systems
Stibo Systems is the global leader in multidomain Master Data Management (MDM) solutions. Industry leaders rely on Stibo Systems to provide cross-channel consistency by linking product and customer data, suppliers and other organisational assets. This enables businesses to make more effective decisions, improve sales and build shareholder value. During the last 30 years, Stibo Systems has helped hundreds of companies to develop a trusted source of operational information. A privately held subsidiary of the Stibo A/S group, which was originally founded in 1794, Stibo Systems' corporate headquarters is located in Aarhus, Denmark. For more information, visit www.stibosystems.co.uk.