I would like to share with you some insights into the topic Digital Asset Management. To start with a definition: "Digital Asset Management (DAM) consists of management tasks and decisions surrounding the ingestion, annotation, cataloguing, storage, retrieval and distribution of digital assets." (source: Wikipedia)
Digital assets are rich media content such as photos, audio files, videos, presentations which are increasingly important to create compelling marketing messages and advertising campaigns. From ad agencies to in-house departments in every industry, organizations need to manage digital media to quickly, consistently, and effectively communicate with customers and partners around the world.
The challenges companies are struggling with are that they often have insufficient visibility into their digital assets and marketing processes, and lack operational flexibility. This leads to less efficient processes, duplication and recreation of assets - wasting enterprise resources.
Users often do not know which content is available and how to find what they want. Slow communications during a marketing initiative can lead to unnecessary delays resulting in missed opportunities. Inconsistent messaging is also a problem, if you can't localize your campaigns for different markets and regions.
Finally, a lack of brand control can damage the perceived quality of your products and services - and of the organization's reputation.
All these challenges and pain points can be addressed with a good Digital Asset Management system. It helps advertising and marketing organizations to optimize the creation, management and distribution of rich media content.
The benefits of having a Digital Asset Management system are to:
• Reduce operating costs with streamlined processes
• Improve return on investment by optimizing the value of creative assets and reducing waste due to asset duplication or recreation.
• Reduce legal risks and enable compliance by avoiding improper or unauthorized use of licensed content with rights management and version control functionality
• Enhance brand control with global access to approved and updated content, and support consistency in brand imaging and messaging
• Accelerate time to market by improving the productivity and efficiency of content distribution
Stay tuned for my next blog with more details on this topic and an upcoming demo of the SAP Digital Asset Management by Open Text product!
