With the advancement of technology and digitalization today, one can’t deny the importance of digital assets for businesses. This is especially true since most transactions, like exchanging information and marketing, are done online, and files are created using computer technology.
Essentially, digital assets are any files or documents stored digitally, like eBooks, photos, audio files, videos, logos, graphics, presentations, and word documents, that can bring value to the company. And considering that every company creates, shares, and deals with numerous digital assets, it has become essential for organizations to have a system to help efficiently manage such assets.
However, managing digital assets is easier said than done. Moreover, doing this task manually can be tedious and time-consuming. And in some cases, an inefficient system can halter productivity in your organization. This is where investing in a digital asset management system can be to your advantage.
An Overview Of Digital Asset Management System
A digital asset management (DAM) system is a computer application, program, or software that can help create, organize, store, and distribute digital documents. It’s a platform that enables businesses to manage and access digital files from a centralized location. And in some cases, it can also act as a library of digital assets.
Depending on your business goals, you can invest in product information management (PIM) systems besides getting a digital asset management system. And while the two have several similarities, each is designed to serve a different purpose. One of the main differences is that digital asset management systems help store and manage multimedia files, whereas a product information system allows one to manage other product information.
Although there’s a big difference between DAM and PIM, connecting the two technologies may help enhance operational efficiencies and boost the company’s overall productivity.
Why Businesses Need To Invest In Digital Asset Management Systems
Regardless of the industry or the size, every organization can benefit from digital asset management systems. Here are significant reasons why your business needs to invest in one:
To Save Time
Managing digital assets can be time-consuming. Besides that, retrieving files from different platforms could require much effort from you and your team members. However, with a DAM system, you can store, locate, and manage all your digital assets from a centralized location.
You can also utilize keywords or meta tags to help streamline the organization of assets. This approach can make retrieving files easier. As such, you and your team can save a lot of time which team members can use to complete other tasks.
To Boost Employee Collaboration
Another benefit of the DAM system is increased collaboration among team members. This is especially beneficial for a company that has flexible work arrangements where employees can have the option to work and complete tasks remotely or in the office. With a DAM system, team members can access and share any file they need to work on and get feedback or approval, regardless of where they are.
In addition, the ability of employees to work on digital attests as a team can be a great way to complete tasks more efficiently. With a DAM system, teams can distribute tasks, and employees from different locations and times can work on the same project and collaborate without ease.
To Increase Data Security
Digital assets contain critical information about a company, its employees, and its customers. For that reason, they can be targeted by online attackers. That said, since storing digital assets on different platforms may increase the chances of losing them through cybersecurity activities, it’s best to be proactive and implement effective ways to safeguard and manage your company’s digital assets. You can achieve that by investing in DAM software.
As noted earlier, the DAM system allows for storing your files in a centralized location. Therefore, you can keep a good record and an account of all your documents. This way, it can be easier to protect them from cyber threats.
In addition, DAM software also comes with inbuilt security features like data encryption and password management. This can help protect your digital assets from unauthorized access. Only individuals with permitted access can view or edit them, which helps create a robust data security strategy for the business.
To Reduce Costs
A DAM system can help you to reduce business costs in various ways. Since it can help minimize manual work, you won’t need to hire many employees to manage your digital assets. One or two may be just enough to complement the installed system, which means reducing your labor expenses.
In addition, most digital asset management tools are scalable. It means the system can accommodate your growing needs and storage capacity requirements. Depending on the growth rate of your business, DAM software can allow you to add or remove users and store more digital files.
To Get Insights Into Digital Assets Usage
Indeed, there are several types of digital assets, but not all of them may be useful to your business. For instance, some files may be outdated. That said, without a proper digital asset management strategy, you could continue storing files that don’t add value to your company anymore.
In addition, licensing digital assets can be expensive. In addition, the cost of storing and maintaining such files can also be high. For that reason, you should measure the performance of your digital assets to know whether the amount you spend on them is worth it.
DAM software can provide insights into the usage and performance of all your digital assets. As such, you can stop producing materials you don’t require for your marketing campaigns, allowing you to save time and company resources.
Managing digital files and assets can be a tedious and time-consuming job, especially if done manually or on multiple platforms. And to help streamline the process, modern businesses can invest in tools such as digital asset management systems. Saving time, boosting employee collaboration, increasing data security, and reducing costs are just some of the reasons to consider purchasing digital asset management software for your business.