The Value of Time with Digital Asset Management

by ,

At the core, Digital Asset Management systems are simply a repository where one can store and manage assets for later retrieval.  What separates a DAM system from using a folder structure on your desktop or shared drives is the ease of searching and attaining those assets.  

 
Showing this search function in a live product demo usually strikes up the first big “ah-ha” moment when the prospect agonizingly relives that pain of digging through files or waiting anxiously for someone else to find assets while their deadline nears. For that reason I like to remind the DAM Happy Hour visitors that there are few things in their day are more valuable than time, and having more of it because of a DAM solution is certainly one of their biggest ROI boosters. 

The Value of Time with DAM

 
Implementing a DAM system has many immediate time-cutting affects. For example, shorter search time, conversion time and delivery time. Reducing each of these means you have more to allocate to more productive areas of your project.  Not only will you improve your ability to meet short deadlines, the others who once waited on you to retrieve their assets can now receive them quicker or even access your DAM site to retrieve the assets they need, thus eliminating you from the workflow.  As bad as it sounds, this is a time when you shouldn’t mind being pulled from a project.
 
To give you an idea of how much time and money is spent on task that a DAM system would simplify, here are some statistics from GISTICS, an innovative think-tank on DAM and customer engagement:
 
  • Creative professionals spend an average of 1 out of 10 hours of their time on file management. Searches alone account for a full third of that time.
  • An average of $8,200 per person per year is spent on file management activities which include searching, verification, organization, back-up and security.
  • The average creative person looks for a media file 83 times a week and fails to find that asset 35% of the time. DAM solutions will drop that figure to 5%.
  • Digital Asset Management ROI is between 8:1 to 14:1.

Take a moment and think about all of the workflows you’re a part of and how these numbers apply to your situation. Then think on a department level, office level and overall company level. The dollar signs and hours begin to really add up.  To help you measure your personal or company’s possible ROI with a DAM system; check out the ROI Calculator on the website DigitalAssetManagement.com.
 

comments powered by Disqus

The Widen Blog

Where marketing and creative teams find actionable advice, practical resources, and success stories to flourish in a world connected by content.

Like what you're reading?

We can send you our best articles.

Justifying DAM Guide

justifying-digital-asset-management

Read this guide to learn how to calculate and justify the value of DAM to your organization

Get the free guide

 

Creative Harmony Guide

The Content Wrangler's Guide to Creative Harmony

Read this guide to help you elevate your brand with better file organization, sharing, and analytics in order to keep your content and your sanity in check.

Get the free guide

 

Video Guide

A Marketer's Guide to the Video Galaxy

This guide will explain how the right tools, and optimizing your video workflow can have a serious impact on internal cost savings, and increased sales.

Get the guide

 

Brand Guide

How to Make Youe Brand a Pillar of Strength

The simple strategies in this guide will help you tackle brand management successfully, one step at a time.

Get the guide

Recent

Are you ready for a DAM solution of your own? Get Started