Digital Asset Management (DAM) is the management, organization, and distribution of digital assets from a central repository.1 In layman’s terms, DAM is a solution to easily manage all of your digital assets in one place.
Did you know? According to Gleanster’s 2013 report on DAM, 67% of survey respondents are planning to increase budget for content management tools and initiatives.8
Digital assets are not merely digital files. They are pieces of content that are valuable to your organization and have high replacement costs if lost.4
Digital assets include:
Losing or misplacing digital assets costs you money, time, and energy.
A good digital asset management system can store all the asset formats listed above in a secure and organized environment, which has mechanisms in place to control your content at all phases of its lifecycle.
Did you know? Of the businesses who use Widen’s service, approximately 54% managed their digital assets with desktop folders before implementing DAM.3
DAM can automatically convert10 images, audio, video, and documents to other file formats on-the-fly. This saves from a human working with PhotoShop, Illustrator, Final Cut or other image and video editing programs.
We sent out 75,000+ assets from the DAM system in the last 4 years. If each one took me one minute to process in the old way, then Widen saved me on the order of 31 weeks worth of time.”
– Graphic Designer at 5.11 Tactical Series
Without a DAM solution in place, companies are losing time, security, efficiency and assets.
84% of businesses report that finding assets is the biggest challenge they have when working with digital assets.3
How much productivity is your team losing during the day because they can’t find a file?
Widen customer, Motorola, uses DAM to manage their digital assets. Before they implemented DAM, the headcount cost of finding, converting, and delivering 80,000 files per year (averaging 20 minutes per image) was astronomical. With Widen, Motorola avoided $600,000 in headcount cost.
Headcount Cost Avoidance = Total headcount required x cost per head
12 total headcount required x $50,000 average cost per head = $600,000
If you’re talking about smaller organizations where these are duties handled by one person, the time saved on file management can be reallocated to more creative and productive tasks.
According to Gleanster’s study, Top Performers are 7 times more likely to streamline their content management process with DAM to increase collaboration and digital asset access. When respondents were asked about the top three benefits of DAM, they responded with:8
Workflow capabilities are important in DAM solutions, with Top Performers 3-4 times more likely to use pre-configured workflows.8
The top 3 considerations for investing in DAM are:6
Digital Asset Management (DAM) is the key to managing your content lifecycle. The content lifecycle: Create, Manage, Distribute, Optimize
“Digital Asset Management is not only mission-critical, it's business critical. DAM empowers creative teams to focus on creative work, marketing teams to execute campaigns faster, sales channels to better connect with revenue opportunities and IT to harness the value of all its data. Effectively managing your digital assets supports effectively managing your brand.
Jake Athey, VP of Marketing, Widen