Boost Operational Efficiency With Faster Onboarding of Your Suppliers' Catalogs
Low quality product data due to complexity in onboarding supplier catalogs is detrimental to businesses. In fact, 20% of buyers fail to complete a purchase because of an incomplete product description and 64% of online returns are due to mismatches in product information.
Seamless onboarding and quality control of suppliers’ product data is therefore vital. By providing access to complete, high quality product descriptions, a business guarantees a more satisfying purchasing experience for its customers and higher conversion rates, driving revenue.
But with current solutions, businesses face manual and resource-intensive processes to integrate their suppliers’ catalogs online. In many cases, it can take up to 15 interactions with a supplier to launch just one SKU.
Today, we are launching our new solution - Mirakl Catalog Platform - to help businesses tackle these operational challenges head on and achieve seamless supplier catalog onboarding.
“Mirakl Catalog Platform is a game changer for us. It’s the only tool on the market that enables us to flexibly collect the data we need from our suppliers. We can now seamlessly onboard our suppliers’ catalogs and estimate it will significantly reduce the time and cost to get new products live on our site”, commented Virginie Leblanc, director, product master data, Cultura, the leading French brand for cultural products.
3 ways to achieve more efficient supplier catalog onboarding and scale your eCommerce business
Efficient supplier catalog onboarding isn’t easy. First, it can be operationally challenging to integrate suppliers’ catalogs, particularly when they have varying categories, product attributes, and catalog formats. Different suppliers also have varying levels of maturity on platforms, as well as different integration methods, resulting in a long time to market for products.
In addition, collaborating with suppliers has historically been very manual, with many emails back and forth and Excel file exchanges to collect the right data. Data collection is often not centralized, with multiple tools and teams handling different parts of the process.
Finally, data quality is complex to control, as suppliers don’t provide complete and consistent data, and processes to achieve data consistency are highly manual.
Here are 3 strategies you can employ to tackle these challenges head on:
1. Offer flexible catalog integration to your suppliers
Gone are the days of numerous email exchanges and telephone calls. Mirakl Catalog Platform provides AI-powered collaboration tools for faster, automated catalog integration, enabling your suppliers to autonomously import their catalog and map their format with yours. As a result, you can reduce manual processes while managing large numbers of suppliers.
2. Use tools for easy collaboration and data quality control
By automating control of product data, you can guarantee that it aligns consistently with your business rules. Through Mirakl Catalog Platform, communication is centralized and suppliers receive direct feedback if the data they imported doesn’t fit the business rules that you define.
3. Enrich your product data
Use AI-powered tools to categorize, complete, and enrich product details for a better buying experience. Using Mirakl Catalog Platform, you can easily validate content, request modifications from suppliers, and automatically enrich your marketing content.
By following these 3 steps, our customers are able to reduce the time to market for new products, reduce reference costs, and boost product pages to achieve higher conversion rates.
In today’s highly competitive market, your supplier catalog onboarding strategy is key to growth. The Mirakl Team is here to support your business as you define yours.