What Are Examples of Company Owned Digital Assets?

A company's digital assets provide a great deal of value to the business, their customers, and employees. Digital assets are used to create marketing materials, manuals, internal documents, trade show materials, and anything designed electronically -- which is just about everything. Through the power of digital asset management, permissions management, and handling assets properly, companies can create searchable, shareable spaces for internal contacts, third party vendors, and even customers using public-facing sites to access them.

Digital asset management is critical to the success of a business -- without it, unapproved files could get published, and your business could waste time and money creating the same resources over and over again.

What Are Examples of Company Owned Digital Assets?

Company-owned types of digital assets include any type of digital file that helps tell the company's story, supports understanding of products and services, or facilitates better understanding of something related to the company. These are typically assets owned by the company.

Examples of types of digital assets can include blog posts, images (such as logos), end user license agreements (EULAs), video files, audio files, instructions, technical documentation, user manuals, whitepaper files, internal standard operating procedures (SOPs), and website design code. It could go as far as to include software, or anything developed in a proprietary environment and the digital domain. Digital assets could be publicly available, or they could be secure, requiring encrypted, password-protected access.

What Does a Digital Asset Management Do?

Digital Asset Management (DAM) refers to a software solution that allows companies to centrally store, manage, and share digital files. A DAM is often shared across multiple departments in the business as well as externally with partners such as agencies, freelancers, and channel partners.

As businesses grow, keeping track of files requires more oversight and management, and DAM software enables employees to easily share, sort, categorize, tag, label, and store digital files. In large companies, digital asset management is also a role assigned to an individual who oversees DAM software -- and it's a handy skill to have on a resume.

Digital asset managers, or the DAM software they use, is also responsible for keeping track of versioning. Think about it like this: if a person creates a Word document and writes a blog post and another person tracks changes, it's important to be able to see what changed. Versioning means being able to see the history and ownership of files in the company's digital asset library.

Who Manages a Digital Asset Management System?

Typically, the marketing or marketing and communications (marcom) department owns digital asset management as a role, and they often employ digital asset management tools to execute this task for the company. This involves creating the taxonomy used for categorizing content and ensuring that only approved brand content is available in the DAM.

In most organizations, many other departments have access to the DAM to pull approved, branded content. A DAM can also be shared with external partners such as agencies or channel partners. If you find that your file management system is unwieldy or that files are challenging to find and permissions tough to manage, consider digital asset management platforms to help streamline the process.

What Are the Digital Asset Management Companies?

The most prominent digital asset management companies include Adobe, Bynder, Canto, and Brandfolder. However, the disconnect with these solutions is that they aren't out-of-the-box, front-end user-friendly DAMs ideal for a marketer. Instead, they involve complex installation processes, third-party solutions, and agencies or developers to create digital experiences. While that might be worth the investment for a mega-corporation, small and medium-sized businesses requiring DAMs need a plug-and-play solution that is scalable and reasonably priced. The most prominent digital asset management solution isn't necessarily the best for your business.

Lumavate solves the DAM implementation and best practices problem. If you're a marketer worried about the budget to implement one of the more popular DAM solutions, you know how difficult it could be to go to leadership and ask for an extensive budget to make it happen. Instead, a solution like Lumavate is easier to implement, less costly, and will grow with your brand.

In Lumavate, marketers can associate assets with product records in just a few clicks, creating a true collection of digital experiences without requiring extensive technical know-how. Lumavate also includes a full PIM and DXP, making the DAM integration seamless. Skip the long list of digital asset management companies and head for Lumavate: the best digital asset management for your business' growth.