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What is digital asset management? (DAM)

What is digital asset management

The majority of marketing teams have anywhere from 1,000 to 100,000 photos. 50% of these photographs are spread over many sites, including local hard drives, email inboxes, and cloud folders. As a result, each team loses over 10,000 photographs per year, with 7,000 remaining unorganized, costing creative teams important time and resources. I'll teach you how to unlock creative workflows and boost team productivity in this article.

Keeping, organizing, and distributing media components like logos and other creative materials in one place has become a major hurdle for businesses. That's why, to store and distribute their media assets, more and more successful teams are turning to digital asset management, or DAM, solutions.

In this post, I'll show you how digital asset management can help businesses save time and money by integrating workflows, collaborating on digital projects, and staying focused on the most important tasks.

What is digital asset management?

Digital assets such as logos, product photos, sales presentations, and videos cost a lot of money for businesses. We regard these media files to be digital assets in digital asset management because, like physical assets, they have a definite value. These assets, as well as crucial metadata, are safely stored in digital asset management.

Metadata is data about a file that includes things like regional characteristics, the photographer's name, what product we see in the photographs, and so on. This is based on a very simple concept. The value of an asset is only realized if everyone on the team understands where to look for it. The time spent looking for files saps a lot of creative energy. It's not just about how much time you spend hunting for files; it's also about how much time you spend organizing your digital assets.

Using various creative tools generates several versions of your production files, and no one knows where their current copy is. Companies have adopted shared network drives or cloud folders such as Dropbox, but these solutions have a number of drawbacks. Using a single folder with tens of thousands of people in several locations, for example, is just not feasible. It's time to upgrade your cloud share when your firm outgrows it.

Digital asset management keeps all of your assets in one place and makes them accessible from anywhere in the world. Professional-grade systems include a CDN, or content distribution network, which stores your data in decentralized buckets across the globe, making them instantly accessible to people anywhere. A team can save time by automating everyday activities with DAM. It takes care of approval workflows, picture watermarking, file sharing through a branded site, and much more.

DAM makes use of cutting-edge technologies like as artificial intelligence and image recognition to make it simple to browse photographs. User responsibilities and permissions, for example, can be freely modified to meet professional needs. There are numerous applications for a DAM. Its internal centralization mechanism creates a single storage location for all digital assets. Different departments will have access to the same branded assets and will be able to transmit and retrieve files to and from the DAM.

For external asset distribution, many businesses rely on digital asset management. Through specialized portals, branded assets can be exchanged with external parties such as freelancers and other outside contractors. This ensures brand consistency across all potential parties' marketing materials. DAM, for example, aids companies in reducing asset request time by allowing users to self-serve media requests.

Canto is used by agencies and other creative production organizations to exchange files with clients and to create custom media portals for them. The entire process is automated with a digital asset management system, saving time and space.

Here's a quick rundown of what we learnt today. Professional teams may unlock their full potential and focus on their actual work with the support of a DAM solution. It keeps track of crucial assets like logos and product photos. That means no more file searching and easier collaboration with coworkers.

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