In today’s age, the need for enterprises to store, manage and deliver with rich media across various devices and platforms has become a necessity. Needless to say, managing an ever-growing volume of media assets for all channels is a daunting challenge because businesses must transform each and every asset into the correct format for delivery in context resulting in the creation of DAMs or Digital Asset Management solutions. In the next few minutes, we will walk you through the definition, benefits and features of a Digital Asset Management system.
What is a Digital Asset Management System?
Digital Asset Management or DAM is a system that helps enterprises store, manage, organize and share digital assets in a central unified location. It’s like a huge digital library that acts as a storehouse of files, documents and rich media like photos, creative files, video, audio, presentations, documents. It brings together content creation, management, approval and distribution in one location optimizing content workflow.
In fact, according to a study by Research and Markets, The global Digital Asset Management (DAM) market size is projected to grow from USD 3.4 billion in 2020 to USD 6.0 billion by 2025.
Why do Enterprises Need DAMs?
All these files which are considered digital assets grow exponentially with time as digital content creation and sharing increases. Therefore a need to safely store and manage these files becomes a task of crucial importance for enterprises like media and entertainment companies. Here’s where the importance of DAMs come into play. Did you know that the media and entertainment sector has been the largest adopters of DAM service in 2020?
Here are some of the benefits of Digital Asset Management
- DAM solutions aid enterprises in storing, managing, and sharing digital assets in one central location irrespective of increase in asset volume.
- It helps companies to build up their content while maintaining brand standards.
- Given the importance of security, organization, and searchability of digital assets for companies especially dealing with the media and entertainment sector, DAM solutions are invaluable when compared to conventional storage.
- DAM solutions save time, bandwidth, and money which in turn helps employees to focus more on content creation.
- It aids employees to get easy access to media assets through a unified, centralized media library (also known as Media Asset Management)
- Automates workflows and enhances team creativity
With our cloud-based server- Muvi Server as your DAM partner, you can not only store and manage your digital assets but also distribute them to your users and assess their performance. You can easily upload, store, download, and share assets from the most advanced CMS in a jiffy!
Features of a Top-in-Class DAM Solution
Enterprise streaming requires top-in-class DAM solution features which would help media and entertainment companies to organize, manage, retrieve, share huge columns of digital media assets in the form of audio, video and other rich media without compromising on security. Here are some of the most critical features of a DAM solution.
1. Advanced Search– For enterprises that deal with huge volumes of digital assets on a regular basis, finding the correct file can take a lot of time and effort if the DAM service does not give you advanced search functionality. In fact, this is one of the most basic and critical features in a DAM software. With an effective DAM system in place, your assets are more easily discoverable. By simply searching through keywords and attributes and other important information about your assets, such as the date created, photographer’s name, etc, it aids in optimizing workflows by locating the correct files within seconds, irrespective of asset volume.
Muvi Server lets you add unlimited assets. In addition, you may select the plan based on your storage requirements.
2. Auto Tagging– an AI-enabled DAM system allows for auto tagging which means AI enables assets to be tagged automatically upon ingestion. This smart tagging service creates tags or metadata without human intervention, thus reducing manual effort, time and human error. Most importantly, tagging assets using AI improves the searchability and findability of those assets, promoting asset reuse, and increasing the ROI.
3. Organizing– Consider DAM as a huge organized library containing millions of digital assets. Sharing of these assets, internally or externally, through a centralized library organized in folders, subfolders, and collections, according to preset access-control rules is a feature that most enterprises rely on for easy access to required files.
4. Asset Sharing– When collaborating with coworkers, partners or agencies, sharing files, especially large ones over emails become a problem. A DAM system allows you to easily share your large files in a variety of ways be it internally or externally, with no need to send attachments through email or to rely on FTP, CDs, or shared servers. You can configure permission levels for access control. Social sharing is the new norm nowadays, so make sure your DAM provider has an in-built feature to publish content on social media from the dashboard itself.
With Muvi Server as your DAM partner, you can publish your content on social media platforms directly from the CMS portal with detailed reports of your content’s performance.
5. Access Control– When you deal with confidential assets especially copyright media files, you wouldn’t necessarily want everyone to have the same viewing and downloading permissions. This is a key feature that separates a digital asset management system from other storage systems is its access control structure.
DAMs allow you to create user groups that have different viewing, uploading, downloading and sharing abilities, ensuring that your assets are only used by those people you have granted permission to.
Muvi Server is equipped with multiple enterprise-grade security features to protect your data from hackers
Common DAM Use Cases
- File Management– In their most simplistic form, DAM solutions act like gigantic libraries that store, catalog, and manage images, videos, documents and other digital assets. These files are searchable through title, description, and keyword metadata.
- Creative Workflow Management– DAM plays a major part in asset creation. Marketing and design teams of companies can easily store and use assets across different media types with simple conversion processes. Although, typically you cannot create artwork in the DAM, it acts as a unified repository for the tools required in marketing campaigns.
- Product Marketing Management– DAM platforms with a robust product database can collect and store product SKUs, detailed specifications, such as size, weight, color, distribution channels, and other relevant product data. This use case is ideal for sharing product information with retailers and distributors.
With the ongoing global lockdowns, and economic uncertainties caused by COVID-19, the transition to the cloud has increased and the same goes for companies have started using DAM solutions for streamlining storage and managing digital assets, which has further bolstered the growth of the market. As per the 2018 State of Digital Asset Management report by Acquia, 62% of the surveyed companies use cloud-based DAM in place of on-premises DAM.
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