Digital media is becoming a huge component of our everyday lives. Today, millions of photos, videos, images, animations, music, articles get created and posted online. They strive to ensure effective management of this content has led to the rise of Digital Asset Management. Thus, the digital asset management DAM refers to the business process of storing, controlling, and retrieval of digital assets.
What is a digital asset?
Digital asset refers to content stored electronically. The definition of digital assets keeps shifting as the asset base keeps on expanding. According to a report by the market watch, the digital asset is estimated to be worth 2.5 billion dollars by the end of 2018. This figure is projected to reach 600 billion dollars by 2024, explaining the importance of media management. Some of the examples of digital assets include images, videos, songs, graphics like logos, documents in word or excel, HTML documents, and audio files.
Why do you need Digital Asset Management- DAM?
In simple terms, DAM rectifies one of the biggest obstacles most companies have today – managing the surplus digital content. For quick access DAM stores the content centrally for all the departments and the clients.This allows the teams to work efficiently and all the branding materials relevant.
Some of the biggest advantages of incorporating DAM:
One of the critical benefits of DAM is increasing employee productivity.
Imagine taking hours to locate a simple document; how can this affect your productivity?
DAM ensures easy accessibility and management of digital files.
DAM is one way of ensuring that all the users in an organization can access files in the same format.
This is important; mainly in organizations with several branches.
The DAM has a system of keeping a record of any alteration in any file. Thus, in case of an update, all the users get notified.
As an organization scales its operations, the data requirements become more complicated.
For instance, as you scale, it becomes hard to locate a file by name, or date.
Thus, DAM enables easy access by simplifying the search process. Users can identify files using keywords, categories, sub-categories, and other filters.
One of the goals of most Asset management services is ensuring that the data is adequately secured. In the wake of increasing cyber-attacks, organizations are more prone to loss of data.
The DAM system ensures proper protection of data by allowing limited access. Also, users must use passwords to access the data, hence ensuring access to only authorized people.
DAM is the safest way to store your data. The data is stored in the correct format with no duplication or alteration of the data. This way, you can access the data in its correct form, saving you time and money.
Also, in the event of unavoidable circumstances like a fire, the DAM has mechanisms to ensure that the data is well protected. The system can save the files’ history, any alternations, and all the previous formats, ensuring that you can get easy access.
One way that DAM saves money is by integrating the data needs across the supply chain network. For instance, if your company deals with distributors, retailers, suppliers, and agents, the DAM ensures that all the players can access data in a similar format.
This way, there will be a reduced misunderstanding between the players and improved business operations.
DAM strengthens the security and searchability of your digital assets. A DAM system expands content storage by eliminating duplicate content. Most importantly, it aids your employees to focus on what matters.