Do I Need a Digital Asset Management System?

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by Lumavate | Last Updated: Feb 13, 2024

What Is a Digital Asset Management System?

In today’s digital world, images and videos speak louder than anything else. That’s why digital asset management — also known as DAM — is so important. A digital asset management system helps companies to organize, manage, and centralize all of their photos, videos, copy, fact sheets, and anything else that can be transmitted digitally.

One major reason why DAM systems are so valuable is that they’re not limited just to the organization who owns the assets. The DAM is typically shared with partner agencies so that those businesses can also access the company’s assets to collaborate on projects. The ease of access, accompanied by multiple authorized users being able to utilize files at once, and permissions to track usage, makes a DAM essential for any business that’s serious about product management and product marketing.

Do I Need a Digital Asset Management System?

It’s not uncommon for skeptical companies to scoff at the idea of paying for a program to manage digital marketing materials. After all, why can’t they manage these assets themselves? Consider these benefits of digital asset management software:

The benefits of digital asset management are quite clear. However, to fully reinforce why DAM is so important, think about a company that doesn’t use digital asset management. Files are in different folders, in employee’s email boxes, and stored locally. Nobody can find what they need. There are multiple versions of every file, and nobody knows which is the correct one. In short, it’s a mess, and there’s no easy way to fix it. However, with a digital asset management system, all of these issues could easily be remedied. And avoiding the disaster scenario highlighted above is enough motivation for any business to start to take their digital assets seriously by using a DAM.

Is Dropbox a Digital Asset Management System?

Dropbox is one of the world’s most well-known and widely used online storage platforms. People use it every day to store information in the cloud, where it can be accessed anywhere. Though Dropbox does have practical and useful functionality, particularly for individual use, it falls well short of being a full-fledged digital asset management system.

Dropbox, at its core, is only an online storage tool. It doesn’t do any of the other things a digital asset management system does. Though users can search for files on Dropbox, the site doesn’t allow for file tagging. Dropbox also doesn’t link to digital creations produced by the company, which means those items will remain static forever. If a file is replaced by another file, Dropbox won’t update catalogs, webpages, or any other digital assets that reference that file.

While it is a helpful tool for personal use, Dropbox has significant limitations that prevent it from being a full-fledged DAM tool. Instead of trying to “make it work” with Dropbox, marketers and manufacturers should invest in a digital asset management solution that will increase efficiency and provide tremendous value.

How Do I Choose a Digital Asset Management System?

There is a seemingly endless list of digital asset management companies, all of which swear they have the best digital asset management software on the market. However, each business has to make their own choice based on their unique situation and what works best for them. While every company wants a good deal, even the best free digital asset management software comes with a high number of restrictions. Organizations should ask themselves these questions to determine what they need most from DAM software, and then find the digital asset management companies that best meet their requirements.

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