Validating the investment an organization is ready to do is essential to ensure productivity and financial aspects are considered and proven. Digital Asset Management solutions can proof easy their ROI (return on investment) and TCO. Let’s have a look together on the Business Case which illustrates the savings an organization can achieve.
In the era of digital transformation, it’s crucial that businesses protect and organize their digital assets. This infographic prepared by WIDEN, a UK based digital asset management solutions provider, shows us why DAM should be a priority and incorporated into your overall business strategy.
What are Digital Assets?
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. Digital Assets include Product Images, Stock Photos, Audio Files, Video Files, Design Files, Logos, Presentations, Fonts, and Documents for example.
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 throughout all stages.
Did you know …
Personalizing the customer experience is the most important marketing trend to top performers in 2018.
What is this DAM thing?
Digital Asset Management (DAM) is the management, organization, and distribution of digital assets from a central repository. In layman’s terms, the DAM is a solution to easily manage all of your digital files in one place.
Automatic file conversion
DAM can automatically convert images, audio, videos, and documents to other file formats on-the-fly. This saves people from working with PhotoShop, Illustrator, Premiere Pro or other image and video editing programs which are expensive and require expert knowledge to acquire.
”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.” – stated a graphic designer at 5.11 Tactical Series
Why your business needs DAM
Without a DAM solution in place, companies are losing time, security, efficiency, and assets. 82% of businesses report that finding assets is the biggest challenge they have when working with digital assets. Does this not sound like a clear business case to implement a digital asset management solution?
Why should DAM be a priority for marketing, creative, and IT?
The average person looks for a media file 83 times a week and fails to find it 35% of the time. Research shows that digital asset management solutions will drop that figure to 5%. The savings here are simple to calculate and can be reviewed in the graphic below.
Professionals spend 1 out of every 10 days on file management. 72% of organizations have problems providing other staff members with access to assets within the organization, which reduces collaboration between departments.
The infographic below illustrates by number some more ROI examples based on the findings of Widen customer base. To summarize the graphic let’s have a look into the top three benefits of DAM named by active users.
- 73% of their clients named re-use of digital content
- 70% named workflow (automatic actions based on a trigger)
- 67% named improved search results
Workflow capabilities are important in DAM solutions, with top performers 3-4 times more likely to use pre-configured workflows.
The business case speaks for itself and the top 3 considerations for investing in DAM are to increase operational efficiency, to manage brand consistency more effectively, and to improve returns on marketing investment.
The bottom line:
Digital asset management (DAM) is the key to managing your content lifecycle.
Are you ready to overcome your operational challenges working with digital assets?
Join the conversation and share with your peer’s experience in the past losing digital assets, re-producing assets or violating usage rights with the risk of paying penalties. Use our commenting section below.
I really appreciate this post. I’ve been looking all over for this! Thank goodness I found it on this blog . You have made my day! I think this is engaging and eye-opening material. Thank you so much for caring about your content and your readers.
Thank you very much Rospher, glad it could be helpful for you, cheers
Such a great article.
thank you for your kind words, keeps our team up to work harder, cheers
oh, I like this one! I wonder what the future is when it comes to a DAM and what other improvements can be made to such solutions.
Hi Ralph, it comes all at the moment to auto-tagging, recognition in photos, video, and translation of audio tracks with automatic sub-title. Microsoft is offering cognitive services for Photos and Video, work pretty sharp to recognize shapes, colors and evaluate what is on the picture. But the value comes here in the trade-off, 5% not recognizing means manual work, manual work means delays and of course maybe error rates which increase. Will see when they get stable enough the eliminate the factor human, cheers