Looking at our Product Data landscape and the underlying processes to create and manage this. We are looking at PLM and PIM capabilities, but only starting out in terms of approach. Would be interested to hear how anyone else has gone about it?

It sounds like you are just starting out. Assuming your organization is smaller and not as comlex, I would partner with a VAR that can get you an OOTB, cloud hosted PLM instance from one of the top 3 vendors (typically the one that aligns best to your engineeirng data) and push adoption of the OOTB processes and best practice. Take an agile approach and adopt a piece at a time (as much as that can be done logically). Resist customizations as much as possible! Where it makes sense, leverage external apps and mashups that are upgrade friendly and are compatible with the SaaS or cloud hosting provider and PLM software vendor. Create a 3-5 year plan to reach more mature and advanced features in PLM and keep pushing the digital transformation. You will likely have to keep the overall value proposition in front of your SLT to keep the investments coming.

I am sorry but I cannot really answer. We used to be part of a company developing PLM software so naturally we used our own solution. Now we have been carved out but since the effort to change platforms and solutions in the PLM area is a huge, we are still using the same.