What Is Digital Asset Management and Why Do You Need It?

Digital asset management (DAM) helps organizations store, share, find, and retrieve items within its digital media catalog.

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Information technology is an important resource that modern businesses rely on to innovate and improve operations. By taking advantage of digital asset management (DAM), IT leaders and small business owners have immediate access to more capabilities with less knowledge required.  

Enterprise organizations that need to create, edit, or share their digital assets can be overwhelmed by the sheer volume of data management required. Digital asset management gives working professionals added support and improved user experiences when dealing with online data. With DAM, users have access to important tools and services that they can use to organize and access their vital data. 

What Is a Digital Asset?

When businesses store their important data on networked hardware for later access, they are effectively creating digital assets. These can include important documents, audio and video files, graphics, and other digital media that need to be stored on physical drives. 

Digital assets require a centralized server for storing important data that can then be easily accessed by other users on the network. This can be a local network or an external, cloud-based network. Digital assets are fundamentally designated by their ability to offer value to a specific business or organization. This also means the organization has the legal right to use the asset as it sees fit. 

What Is Digital Asset Management?

Businesses that rely on digital assets can have difficulty maintaining control over their platforms as operations continue to grow. With digital asset management systems, IT leaders and small-business owners can better oversee how important information is used, when it’s accessed, and who has rights to it.  

Digital asset management is essential for organizing and protecting online content. This means tools and services for the storage, management, and publishing of digital information. DAM allows decision-makers to curate their digital content, and administer rules and tasks across the network. Data governance and conservation are simplified with digital asset management. 

Digital Asset Management vs. Media Asset Management

There are many types of digital assets. When looking at DAM, IT leaders and small businesses should know what type of content with which they are working. Digital assets include all types of digitally stored information that can be created, accessed, or placed on a network. When working with media assets, which is a type of digital asset, users should be aware of unique data governance requirements. 

Media asset management (MAM) specifically refers to the creation, storage, or sharing of multimedia files, such as audio and video files. This includes: 

  • Advertisements 
  • Music 
  • Movies and TV 
  • Digital art 
  • Logos and other creative designs 

While digital asset management is useful for all types of digital assets, media asset management is particularly useful for files that were created for arts or entertainment.  

Why Do Enterprises Need Digital Asset Management?

Enterprise organizations that rely on digital assets see increased operational complexity and an ever-greater demand for IT equipment and support. This can lead to systems that are difficult for average users to operate, employee detachment, and a loss of revenue streams.  

Digital asset management offers businesses the tools and resources to effectively leverage their digital assets. This is essential for enterprises that want better control of their data and day-to-day operations. Enterprises that want improved accessibility, a motivated workforce, and increased cost savings can use DAM to build better platforms for their users. 

Poor Asset Accessibility 

Finding and obtaining digital assets can be difficult when proper management practices aren’t in place. For users who must constantly seek out, catalog, and tag important data, accessibility is an essential part of daily operations. Digital asset management makes it easier for businesses to systematically decide who can do what on their networks. 

When storing digital assets in a centralized source, users need to be able to safely find, edit, and share their work. With DAM, IT managers and small business owners can decide which employees can access  assets and what permissions they have over them. This makes it easier for employees to complete tasks without worrying about more advanced features. 

Disconnected Workforce 

For enterprise organizations, the various tools, support structures, and legal mechanisms that are intertwined can make it difficult for individuals to focus on their specific roles and responsibilities. This can lead to detached employees who are unable to fully leverage available technology to make their lives easier. 

Working with digital assets does not have to be impersonal. For organizations that use digital asset management, the availability of cutting-edge IT equipment and software, as well as knowledgeable and professional support systems, is a huge bonus. It means workforce training and development can be used to ensure employees understand their specific tasks and duties within the organization. 

Loss of Time and Money 

Working with digital assets can be costly. Businesses that use online tools and resources for their day-to-day operations often rely on their IT infrastructure for vital workflows and collaborative processes. This can leave them at a disadvantage when it comes time to invest in new hardware, software, or employee training.  

When enterprises invest in DMA, they are better equipped for long-term growth. Digital asset management gives users access to efficient task-management and data-tracking capabilities that make it easier for them to complete their projects on time and with fewer wasted resources. This is essential for businesses interested in saving time and money. 

Benefits of Digital Asset Management Solution Benefits

Businesses need digital asset management because it gives them better workflows, a more connected workforce, and cost savings. 

DAM gives users from all professional backgrounds improved data management capabilities. Easier storage and access, tools for communication and collaboration, and modern integrations and distribution methods mean that DAM is an essential part of successful enterprise operations.  

Organized Storage 

As businesses continue to rely on their digital assets, digital content catalogs can become massive, making them hard to maintain. With DAM, decision-makers can easily assess digital information and quickly distribute it to where it needs to go. Efficiently filing, storing, and retrieving important data has never been easier. 

Easy File Access 

Complex or poorly managed data platforms leave users unable to securely access the information they need to complete their tasks. Digital asset management solutions offer ready-made platforms for simplified file creation, editing, and distribution. With digital asset management solutions, IT leaders and small business owners can create and define ownership privileges to make sure important data is available to users when they need it.  

Sharable and Collaborative Assets  

For most businesses, teams are a core part of day-to-day operations. The ability to share important ideas, feedback, and assets is central to the development of successful campaigns. IT leaders and small business owners who want the most out of their digital ecosystems turn to digital asset management for scalable distribution channels that make working with teams, clients, and partners straightforward and hassle free. 

All Team Members Have Up-to-Date Data 

When distributing digital assets across multiple channels, all parties need to have the same working copies. This can become challenging as the development, distribution, and marketing of products and services continues to grow. Digital asset management solutions give decision-makers better oversight over their data flows so they can distribute up-to-date information to dispersed teams.  

Easy Integration with Other Tools 

Creating, organizing, and sharing important data can be difficult when using more than one network or service. This means limited capabilities for those who need access to specific software tools and ecosystems. DAM ensures users can choose which services are right for them. By integrating software, hardware, and network tools across the enterprise, businesses can create streamlined task-management capabilities that reinforce best practices and help users get more done in a shorter amount of time. 

Simple Digital Publishing and Distribution  

Once tasks have been completed, it is essential for employees to quickly and easily move the production pipeline forward to the next phase of asset management. The creation, development, and distribution of digital content requires ongoing data analytics and processing to ensure end-users receive the best service possible. Digital asset management solutions offer transparent oversight so that IT leaders and small business owners can make practical decisions when publishing and distributing their digital assets. 

Digital Asset Management Solutions to Consider 

Enterprise organizations that want to get the most out of their DAM have access to trusted services that provide long-term solutions for data creation, storage, and distribution. For trusted, reliable, and on-demand asset management capabilities, look no further than Lyve™ Cloud.  

Lyve Cloud for DAM 

Businesses that need to share, store, find, and retrieve important digital assets know the importance of having the best digital asset management tools and software. Lyve Cloud is frictionless storage for long-lasting protection against data loss, corruption, and theft.  

Lyve Cloud’s simplified, cost-effective digital asset management systems give you the ability to create scalable digital campaigns that are not limited by internal IT capabilities. If you want to take control of your cloud-based architecture, Lyve Cloud provides managed support capabilities designed to ease your data overhead.  

Don’t be left without the support you need. Talk to an expert about Lyve Cloud’s DAM capabilities today!