Definition Of Digital Asset Management (DAM)

If your company finds itself spending unnecessary money and time on recreating unused or missing assets, or you are simply having a hard time managing all of your digital assets, we might have something that could help.

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What Is Digital Asset Management?

Digital Asset Management is your solution. It is a system of software that helps you handle all of your digital assets (content). Its purpose is efficient management, organization, storage, distribution, and retrieving of a company’s digital assets.

Basically, it creates a centralized place from which your team can easily access company data and make their work more effective.

Now, what are those digital assets actually? Well, it can be any type of content that can be stored digitally. In today’s day and age, there is no limit to what that means, but typically it includes documents, media files, images, videos, audio content, graphics, etc. The main characteristic is that this content includes usage rights.

You can discover a software that allows you to manage these digital assets here.

Why Would You Use DAM?

To help make clear why this might be a good tool for your business management, let’s explore the benefits of Digital Asset Management.

Take into account all of the different content your business creates. Your marketing team might make a lot of videos and social media posts. The sales staff exchanges a lot of documents with your external partners and needs them available and on hand all the time. Imagine how much virtual engagement this includes.

Exactly a DAM platform would allow all team members to collaborate, share and find the necessary assets, no matter if they are inside or outside the company. To see a comparison of two different platforms you could use for DAM, click here.

This is the basic use of DAM, but other benefits include: setting expiration dates for licensed content, maintaining brand consistency, preventing copied and doubled assets, faster access, increased customer conversion, and retention, etc.

Examples Of Using DAM

Let’s take a look at some practical situations where Digital Asset Management comes in handy.

An HR department might use DAM to keep a track of employee CVs and records, vacation and holiday requests, or benefit status. A development team uses DAM for storing development plans and product designs. Procurement would use DAM for invoices, specifications, and vendor contacts.

Some challenges that might also help you think of opportunities when DAM is welcome: the right people using the right files, coherent workflow, disappearing or mislabeled assets, expanded storage capacity, security of content, business growth.

Difference Between DAM And CMS

Lastly, to help you comprehend it better, we will give you a comparison between Digital Asset Management and Content Management System (CMS).

Briefly, CMS is used to display, publish and build content on the brand’s website. DAM is used to manage, monitor, and store all of the brand’s assets on an individual level. We have discovered a tool that would do both of these for your business, and you can find it by clicking on this link.