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The big issue with implementing PIM software is determining the functions you really require. In order to understand your implementation strategy, you should know the functional requirements of your PIM system. The hard part is defining your rules for a product master solution: business rules, content management, etc. Do you want to simply establish standard reference values for different systems to access, or do you have specific processing needs?
Personally — and I say this with love — I think you should check your build-versus-buy decision before you make decisions about internal versus external development.
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