Digital Asset Management

Posted on August 1st, 2022

The world is continuously evolving with changes occurring all the time and everywhere. With the advent of the internet, our world has become more connected and powerful, giving rise to countless opportunities for businesses and individuals to grow. Digitalization in the past few years has witnessed a sharp increase owing to the growing popularity of smartphones, tablets, and other networking devices. 

 

As more and more users adopt the internet, the need for owning digital assets is inflating. Digital assets have become an integral part of the internet, where people and businesses are investing and using digital assets to supplement their incomes or become their primary income streams.

 

Digital Asset Management, long for DAM, is the process by which organizations and individuals can store, protect, share, create and retrieve their digital assets that hold value. Several aspects of digital asset management have emerged as invaluable over the past few years, where there has been a monumental rise in the usage and adoption of digital assets.

 

Digital asset management entails strategic software or systems that provide solutions for organizing and managing digital assets, especially for businesses. In other words, DAM is also a tool or a gateway to managing information. 

 

Two main aspects are involved in successfully running the DAM process: digital assets and management solutions.

What are Digital Assets?

Digital assets are any digitalized files that hold monetary value. Digital assets can exist in different forms like:

  • Images
  • Videos
  • Graphics
  • Audios
  • Documents
  • Media
  • Presentations
  • Write-ups and more

Such digital assets that hold monetary value need proper systems to streamline their storage and production.

Benefits of DAM Systems

Organizations these days are robustly employing DAM systems to optimize their operations, where different departments are continuously interacting with each other. DAM systems have become a popular choice for most firms, as they help achieve seamless integration between departments. Some of the key benefits of DAM systems are:

  • Better Control – As DAM systems are singularly devoted to the functions of digital assets, organizations employing them have better control over their digital assets. Such dedicated services help them control access and monitor platforms linked with the assets. Organizations can further ascertain how their digital assets are utilized and track all changes made, etc. 
  • More Efficient – DAM systems provide a centralized solution for managing digital assets that are used for their creation, use, transfer between employees and different platforms, etc. With -target-focused solutions that provide quicker and easier access to digital assets, the overall efficiency of the organization’s setup improves, rendering better results.
  • Lower Costs – By employing DAM solutions, an organization can save on hidden operational costs that are masked behind the curtains of inefficiencies like spending too much time on locating files, losing data due to systems malfunctions, etc. Such operational costs can be evaded by employing DAM systems.
  • Security – With DAM solutions, the overall safety and security of data and content are substantially improved. There is restricted and controlled access, ensuring that the digital assets are not accessed by unauthorized personnel or malware. Apart from controlled access, data is systematically stored using online software that makes sure that the data or content is not lost or erased, enhancing security.
  • Versatility – DAM solutions are mostly versatile, implying that their functionality of integrating with different platforms or software is very useful, making data transfer extremely easy. 

Who Uses DAM Systems?

All individuals and businesses that engage in creating, storing, and managing digital content can at some point benefit from DAM systems by increasing and optimizing their digital asset workflows. DAM solutions are mostly employed by organizations that have various operating departments engaging in data handling, like the marketing and sales department and the designing and IT teams. 

 

On the other hand, in individual roles, marketers can immensely benefit from DAM solutions to organize and manage their digital content, which requires constant optimization. DAM systems can help them save a lot of time by providing automated solutions to create, store, organize and transfer digital assets in a preplanned manner.

Agencies that work with digital assets are prime contenders for DAM solutions, which help them create organized portfolios and provide better services.

The Future of Digital Asset Management

With the global attention shifting towards digital marketing, social media, and digitalization in general, the usage and creation of digital assets have blown up suddenly. This inflation has conceived a ready market for digital asset management tools that target providing services in this sector, making it viable for organizations to invest in such solutions. Securely storing, accessing, and managing digital assets has become a need now more than ever, making the future of DAM solutions gleaming with opportunities.

 

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