Digital Asset Management (DAM) refers to the tasks that an organization performs to collect, classify, search and store multimedia files such as photos and documents. DAM is an excellent solution to central storage of digital data that is shared across the company or even external partners. Some of the many benefits of a DAM are:
- Reduction of risk. On average, most companies experience a 23% reduction of risk by using a DAM, and it also facilitates the management of intellectual rights.
- Increase in production. Most companies can expect an average of a 34% boost in productivity, due to reduced redundancy in creating assets, a sleeker review process, and a more efficient process of information sharing.
- Revenue gain. The majority of companies saw their revenue grow by at least 10% when using a DAM.
Ensure speedy file retrieval and proper access
DAM originally was just a great way to store assets, but it has changed with the times. Digital information used by companies has grown exponentially, and finding particular files is only part of the problem. Certain other issues present themselves when an organization is storing large quantities of data. Who has the right to use as asset, and for what purposes, are common questions. Another consideration is whether the media has been used before, as well as when and how many times. DAM has evolved to provide this information through management applications. Where the answers to these concerns are not addressed, having the data becomes less valuable because it is less usable. A worker may hesitate to use an asset if it cannot be easily ascertained how it can be used.
Workflows save time
Another feature of DAM is workflows, which streamline the approval and review process and allow anyone to see exactly where any item is within the chain of review at any given time. As the company grows, the DAM workflow engine can handle complex collaboration efforts, freeing up productive hours for the workforce. The DAM puts a company far ahead of the email format, wherein only certain individuals communicate back and forth and attachments become confused as to the latest version or who has edited it. With DAM, metadata goes along with the asset, so remarks and comments are not separated and lost as they would be with email.
Social media and online applications are moving the corporate world farther into information sharing every day. Any DAM can become a part of a larger online ecosystem that pulls data and integrates it into websites and other online media. DAM allows a seamless transfer that saves enormous effort using older styles of information management that is too slow and time-consuming to work effectively in this emerging cyber environment. DAM can handle millions of assets, but it should grow along with your organization to maintain efficiency and ease of use. This will allow for cross-indexing to build that will maintain the safety of the collection.
Photograph by Samantha Marx