Asset management solutions enable creative teams to store, access, and distribute their digital assets in a centralized repository. Propelled by the increasing importance of Digital Asset Management (DAM) solutions, the size of the industry is expected to reach $8.1 billion in the next five years.
Creative workflows surrounding rich media production and distribution have evolved rapidly and have made robust DAM solutions indispensable assets for organizations. Traditional data repositories and basic asset management solutions are not sustainable in today’s world of complex and layered digital assets—especially video files.
The right asset management solution for your organization’s unique needs will not only plug existing leakages in your creative workflow but will also unlock new avenues of value generation.
What are Digital Assets and Why Do You Need DAM?
Digital assets include everything from videos, images, and audio to presentations, PDFs, and design mockups. With the explosion of social media and ever-increasing customer experience demands, the growth of video has far outpaced other media.
With creative workflows compounding in complexity and globally distributed teams fast becoming a reality, every stage in your asset lifecycle is being impacted. From production and storage and discovery to collaboration, approvals, and distribution, there are innumerable ways for things to go wrong.
The very purpose of a DAM solution is to streamline this entire workflow and make your life simpler. In addition to accelerating all stages of the creative process, DAM solutions also produce enhanced value through intelligent search and seamless integration & collaboration.
With your creatives no longer spending more than 10 hours a week on administrative tasks, you will find your team completing more projects on time and within budget, contributing to the bottom line.
What Does a DAM Solution Actually Do?
What are the features of a DAM solution that make it so essential for your business?
- Store all your assets in a single, secure repository
- Use intelligent metadata for fast and easy search
- Ensure access control with granular and customizable permissions
- Collaborate directly on videos and images across teams and devices
- Ensure assets are always up-to-date and consistent with your brand
- Archive expired assets with automated rules
But how does this translate to actual functionality for each stage of your creative workflow?
- Production: Your creatives don’t need to manage multiple tools & platforms to create content. Seamless integration with all your favorite tools ensures all production takes place on a single platform.
- Storage: High-res assets like videos can quickly fill up your storage space. Cloud-based DAM solutions with unlimited storage and advanced versioning capabilities take your mind off storage woes.
- Collaboration: Your team members can discover, edit and comment directly on videos and images from any device or location around the world. Approvals no longer delay project completion, enabled by side-by-side asset comparison.
- Distribution: Sharing assets with your media partners can be done from anywhere, owing to cloud-based publishing. Access controls ensure asset security so you can share what you want with exactly who you want.
- Measurement & Archiving: How do you measure which assets are performing better and are leveraged the most by your creatives? Detailed analytics allow you to generate these insights. When needed, automated rules can be used to archive assets to avoid unnecessary clutter.
What is the ROI for Your Business?
It all comes down to the return on your investment in a DAM solution. The business benefits you can reap from a successful DAM implementation are manifold:
- Optimized Workflow: The productivity benefits from an efficient workflow alone are immense. Organizations worldwide can save over $5 trillion annually by automating routine tasks and speeding up time-to-market.
- Brand consistency: When every asset shared from your organization is up-to-date and automatically aligned to the latest brand guidelines, customers consistently get the experience they demand, and your brand value benefits as a result.
- Long-Term Savings: Your initial investment in a DAM solution will be recouped many times over due to non-duplication of assets, enhanced communication & collaboration, and analytics-powered asset performance measurement.
- Scalability: You’re investing in an asset management solution for the long term and as your organization grows and your asset demands increase, a DAM solution will ensure it scales with your growth.
Request a demo with globaledit today to discover how our asset management solutions built for creatives can benefit your organization.