Here’s a few of the definitions from one of the LinkedIn groups for Digital Asset Management.
"DAM is the storage, retrieval and collaboration of any digital information." There's nothing new about the concept of DAM. However, there are new tools and workflows to make DAM more accessible.
On a basic level, DAM is a workflow and tool for media, whether it be audio, graphic, photo, text and/or video. DAM archives as well as simplifies searching and finding media based on metadata attributes to each digital file.
DAM is quite simply a repository and associated services provided either as part of or adjunct to overarching business processes
DAM is a combination of system (process) and technology (database). It is as much workflow, as it is a methodology for identifying, organizing, and repurpose digital rich media. And yet, is still defined by some as purely software for the organization of digital rich media for immediate and long-term storage. DAM is so much!