Digital asset management is a process through which one can organize, store and retrieve media and manage digital rights and permissions. These assets include photos, music, videos, animations, podcasts, and other multimedia content. All the assets are hosted and cloud so that you can have access to them anytime and anywhere. Also, they give additional integration with the tools accessed by you such as Microsoft and adobe making your work faster and easy. Here is FinanceShed with a complete guide about Digital Asset Management.
What are Digital Assets?
The digital assets are simply the virtual files that add to the value of the organization. These assets are sold in digital format and metadata can describe the asset content, and the rights to access the same along with ownership. These digital assets have now extended to their formats and also documents, spreadsheets, presentations, etc. The digital assets have three basic components to be managed. Firstly they have to be in digital file; secondly, it should provide value addition to the company and lastly must be searchable. Some of the digital assets are Photo, Graphic files, Animations, Screenshots, Videos and lot more.
Advantages of Digital Asset Management
The basic advantage of digital asset management is that it improves the returns on investments. When going for digital marketing it is very important to have designs and visuals that directly affects the targeted mass of society. DAM helps marketers’ access the creative designs and bridge the gap between creative and marketing teams. It also helps in improvement of efficiency, effectiveness, and productivity through easy and manageable visuals and data availability. It is a great help for digital market players and graphic designers. It also helps in securing the work done and prevents any rework on assets.
With the help of unique digital asset management, company’s logos, color palettes, photos, and other things are maintained with respect to brand integrity & consistency. Having a central management system to maintain all this helps the teams, partners, affiliates, agencies, and clients always have access to the latest approved versions of files and that to secure.
Digital asset management provides secure allocation and easy understandability of access granted to the particular person. In short, it helps in centralizing the control and responsibility over digital assets. You can also give different access to different personals depending upon the needs.
Types of Digital Asset Management
Digital asset management is divided into several broad categories. The first one is a brand asset management system that mostly has market-related work such as a brand logo. The other kind of management systems such as library focuses on the storage of frequently moving assets. On the other hand production asset management system focuses on digital media production. Not to forget that all these management systems are cloud-based and provide easy and faster access to the assets.
What to do if there are Budget Restrictions?
Digital asset management depends upon the size of the firm and investment done by you. Before going for the DAM you must calculate the ROI and make sure it has positive flows. You can also have an analysis of the opportunities missed by you if you waste time in searching the digital assets instead you could have managed it properly gaining profit from alternate work.