A woman graphic designer works on an illustration on a computer tablet in a small office with other coworkers seated next to her.
A digital asset management solution can dramatically simplify finding, storing, organizing, retrieving, and distributing your entire digital content collection. — Getty Images/Morsa Images

If your business is struggling to manage its digital assets effectively, implementing digital asset management (DAM) software can help your team streamline the process of finding, storing, organizing, retrieving, and distributing your entire digital content collection from a single reliable source.

Here is everything you need to know about DAM software and its ability to enhance team organization and productivity.

What is digital asset management?

DAM is a software and systems solution that efficiently stores, organizes, manages, retrieves, and distributes a business’s digital assets. It encompasses both a business process and a form of information management technology. DAM provides a centralized place for businesses to access their media assets, including documents, images, audio content, video, animations, and media files.

DAM solutions streamline asset management and optimize rich media production, especially within sales and marketing businesses. It establishes brand consistency by automating asset updates and enforcing brand guidelines, ensuring a consistent user experience for external audiences. DAM helps content teams and marketers repurpose content, reducing costs and duplicate work through advanced search features.

[Read: Digital Marketing Checklist—All the Digital Tools Your Startup Needs Before Launch]

How digital asset management software works

A DAM solution involves several steps to utilize digital files effectively:

  • Asset creation. First, standardized templates and file formats are used to create assets, improving search and retrieval capabilities.
  • Encoding and indexing. Metadata is then encoded and indexed to enable easy asset searches by attributes, such as asset type, version, media type, and technology used.
  • Workflows. This indexing facilitates rule-driven workflows, automating tasks and processes.
  • Version control and governance using permissions. Version control ensures the latest asset is used, while permissions governance restricts access to authorized users, protecting assets from theft or corruption.
  • Auditing. Audits evaluate DAM effectiveness and compliance with regulations. DAM solutions can be implemented on premises, in the cloud, or using a hybrid topology, offering cost-effective, secure, scalable, and flexible options.

Searching for information and restructuring lost assets can take a significant amount of time. DAM software simplifies asset searches by utilizing metadata and keywords, creating an index for grouping and categorizing assets. This enables agile workflows, task automation, and efficient asset utilization.

[Read: What Is the 3-2-1 Backup Rule?]

Using a DAM solution offers users a holistic perspective of digital assets, which improves content planning and execution.

What are the benefits of DAM software?

An effective DAM system goes beyond a basic file storage solution, empowering your team to structure assets in a manner that aligns with your business goals. Here are a few of the many benefits of implementing DAM software for your business.

Improves internal and external collaboration

Email is no longer the most effective way to share large digital files. And while workplace chat software like Slack is useful for internal communication, it lacks the capabilities of a DAM system. A DAM system allows seamless sharing with partners and enhances collaboration, reducing campaign turnaround time.

Increases organizational transparency

Using a DAM solution offers users a holistic perspective of digital assets, which improves content planning and execution. It fosters collaboration among stakeholders and enables more impactful workstreams by eliminating redundant projects.

Enables governance and compliance

Complying with industry or government regulatory requirements often necessitates efficient organization and rapid retrieval of licenses, legal documents, archives, and other assets. With a DAM system in place, effectively managing and accessing these materials can save time and money and minimize disruptions to core business operations.

Enhances security

Maintaining an asset inventory allows you to monitor both physical resources — like machinery and equipment — and digital assets, such as software and data, within your company. This oversight aids in recognizing security vulnerabilities and implementing measures to address them effectively.

Improves decision-making

A thorough asset inventory facilitates informed decision-making regarding investments and resource allocation. By understanding the assets you possess and their worth, you can effectively prioritize assets and allocate resources based on informed choices.

Why is digital asset management software important?

Maintaining a comprehensive and up-to-date inventory of assets is essential for effective cybersecurity. Gaps in inventory pose risks, leaving businesses vulnerable to cyberattacks — especially when cloud resources are involved.

Without accurate asset records, detecting and responding to attacks becomes more challenging; this hindrance can lead to data breaches, financial losses, and damage to your business’s reputation. By implementing a robust asset management system, you reduce the attack surfaces and enhance your detection and response capabilities.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.

Brought to you by
Simplify your startup’s finances with Mercury
Navigating the complex finances of a growing startup can be daunting. Mercury’s VP of Finance shares the seven areas to focus on, from day-to-day operations to measuring performance, and more.
Read the article