What is a Digital Asset Management System and How Does It Work?

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Digital Asset Management or digital asset management and the implementation of its use as a computer application (software) is needed in an effort to collect digital assets to ensure that the owner and his delegates, can perform operations on all data files.

Over time, digital asset management is a tool that every company needs to prioritize to support productivity and accessibility. Digital asset management is flexible, portable, easily accessible, very useful for digital asset reporting purposes between organizations, customers, partners, and suppliers.

What is a digital asset management system and how does it work?

What are digital assets?

A digital asset is any content that can be stored digitally, so that you can create, manage, publish, and share content with anyone inside or outside your organization. In today’s rapidly evolving digital ecosystem, there is no limit to a digital asset.

Why is digital asset management so important?

Effective digital asset management requires companies to organize and manage every digital file in their media ecosystem and operations. Data from Canto shows 51% of marketers waste time and money re-creating unused or lost assets.

The more your business and content needs grow, the bigger your digital asset library will be. Everyone can relate to spending too much time searching for a single file. This is the case for most companies operating without a good digital asset management solution.

Types of Digital Asset Management System

There are different types of DAM systems that serve a variety of purposes. With this system, companies and consumers can perform workflow management and project management activities accordingly.

Enterprise personnel can use it to collaborate on projects with their teams, with other departments, and across industries. Consumers can use it to easily share content with other consumers.

In addition, they can control who can access the content, how they can use it, and in what ways they can revise it. The following are the main types of DAM systems:

Brand management system

With a brand management system, your company can store and access all digital assets related to their marketing and sales activities. Digital content can include images of company products, company logos, regularly used fonts, marketing copy, brochures, catalogs, publications, and videos.

Having these digital assets in one place for quick retrieval can be a convenient and cost-effective approach to generating new ad campaigns.

Library management system

The library management system is for storing and organizing digital photos and videos in bulk. These digital assets tend to remain immutable, which means they can be kept as-is. After archiving, you can retrieve it easily and quickly when you need it.

Production management system

Digital assets such as video and audio effects are subject to frequent revisions and changes. By storing this type of content in a production management system, it is easy to retrieve it for use in live production.

The system can handle different versions of files, making it easy to revert to an older version if work demands it. Movies, TV shows, and game applications typically use production management systems.

On-demand content delivery management system

On-demand services that stream music, games, TV shows, movies, and videos remain popular, making proper storage of such content a necessity. With on-demand content delivery management systems, digital providers can offer better streaming services to their subscribers or subscribers.

Challenges in digital asset management and how to overcome them

If you don’t manage your digital assets, it will cost you a lot. Take a look at some of the most common asset management challenges and how businesses solve them with simple solutions with the latest technology.

Accessibility to assets

Without digital asset management, digital assets are rarely managed properly. Chances are, the wrong people are using the wrong assets at the wrong time. Get back in control with a centralized solution that defines workflows, manages access, and simplifies approval processes so that the right files get to the right hands.

Wasted time and money

If your team spends valuable time searching for mislabeled or missing assets, that’s wasted time and wasted money. while effort and time should be diverted to focus on growing and scaling up your business. Empower teams with a centralized platform that makes organization, monitoring and maintenance of every asset in your ecosystem easy.

The workforce is cut off

Remove barriers and improve communication across your organization with a unified platform designed to enhance collaboration and sharing. The digital asset management platform enables teams to democratize asset use, create fast workflows and improve consistency across all channels.

Bringing your team and assets together

Digital asset management empowers teams and serves as a single source for all assets and brands. This can improve information security while enabling teams to store, organize, share, search and grow their digital libraries.

This solution not only enforces standards on brands and expands storage capacity. This allows your team to focus on what matters most. The main benefit is not spending time looking for the required documents.

How digital asset management works

The way digital asset management works includes three simplified types of storage. Each type of storage has its own role that can ensure its usefulness for all employees in the company. Here’s a more complete explanation:

  • Internal centralization: A system that can internalize and centralize assets to increase the efficiency of internal needs. This process involves creating a consolidated area for all digital assets to be stored by the company. All departments in the company have access to the same file types and can send or receive assets from digital asset management.
  • External distribution: External distribution, or external distribution, allows companies to share their assets with external parties such as freelancers and vendors. This directly maintains brand consistency through the use of uniform digital materials from all parties involved.
  • Internal storage: In internal storage, digital asset management helps companies such as agencies, to store assets taken from clients until they are ready to hand them over to external media. In this case, it can automate the entire process of storing and handing assets, thus saving time and space for the company.
  • In conclusion, digital asset management is a device that is able to digitally accommodate all company assets. In its utilization, it also has various other functions that can contribute to the progress of the company.

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Benefits of Having Digital Asset Management

Basically, digital asset management is a guarantee that companies will get the most out of their stored assets. By using DAM, indirectly the company’s assets also become more credible in the eyes of stakeholders and the media.

Well, apart from being a device that can be used as a content management system, digital asset management also has various other functions, you know. According to Brand Folder, various benefits that companies can reap when using digital asset management are as follows:

  • able to find digital assets quickly
  • makes asset navigation a simple and intuitive process
  • help companies avoid digital content re-creation
  • help companies to use all their assets
  • allows companies to access and share files anytime, anywhere and on any device
  • helping companies to create and communicate digital assets from a single source
  • makes it easy to distribute company content across multiple channels, including social media, third-party marketplaces, and more
  • maintain the consistency of the company’s brand
  • identify opportunities to reuse existing digital assets
  • analyze the performance of assets, where they are used, and who uses them

That’s all DAM things you need to know. In short, digital asset management is a device that can accommodate all digital assets belonging to a company. Not only that, DAM also has various other functions that can contribute to the progress of the company.

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