Blog
August 30, 2024
The implementation of large IT projects, particularly in the area of product data management, presents opportunities but also risks for many companies. This involves a wide variety of considerations and business models, as well as the creation of an IT infrastructure that can keep pace with the fast-moving world of e-commerce. Sooner or later, however, all topics in retail converge at one point: the processing of product data and its further use. This is because product data forms the basis for all business processes in a retail company.
On the one hand, there is the complexity involved in the initial creation of articles, through to the preparation and display of product data. On the other hand, different teams need to be involved in digitization efforts. How can companies optimally implement digitization efforts, and what makes for successful project management? We discussed this with marketplace and e-commerce specialist Nadine Schindler, who has successfully implemented major IT projects for GALERIA Karstadt Kaufhof and hagebau, among others. In this fascinating talk, she discusses the biggest challenges and opportunities she has faced in the e-commerce market over the past 12 years.
Article data as the basis for all business processes.
With increasing pressure triggered by rising customer expectations and market conditions, retail companies must quickly, purposefully, and comprehensively seek new ways to digitize their own processes in a sustainable manner. This means creating an efficient, scalable, and robust e-commerce system landscape that significantly reduces manual effort, achieves a higher conversion rate, and thus leads to more sales and better customer relationships. These large IT projects must be implemented in a well-thought-out manner, because, as with all large projects, they offer both challenges and opportunities.
Awareness of the fundamental importance of product data management has grown in recent years. There are several reasons for this, but above all, retail companies need to be able to sell more products more quickly across a wide range of channels and are therefore dependent on high-quality, e-commerce-ready product data. Another point is that new technologies must be used profitably, but they all rely on solid and, above all, high-quality product data management.
Fundamentally, companies must continually ask themselves how they want to set up and orient their digital business. This is because not every business model requires the same technological prerequisites. Here, too, it is essential to ask how article data management is structured. Are products sourced from third parties? If so, how must the article data be prepared, and what quality requirements apply to the various sales channels specified in the business case? This shows that, in addition to a clear vision, a catalog of requirements is also needed that deals intensively with article data management.
E-commerce IT: What requirements will the future bring?
Hardly any other market environment changes and evolves as rapidly as that of retail companies. New players emerge and others disappear again. Major issues such as marketplace and omni-channel business models place high demands on IT and everyone who works in retail companies. So when new projects involving artificial intelligence, improved personalization, and other major upheavals in the retail environment are launched, employees must be involved and taken along on the journey.
It is therefore clear that not only must technological change be closely monitored and understood, but also how the people who work intensively with these technologies and deal with this highly competitive market every day with their extensive expert knowledge can be involved. Product data forms the basis for all business processes in a retail company, but it is people who keep these processes running. We would like to thank Nadine Schindler for the exciting Expert Talk and look forward to the next one!