What Are Examples of Digital Asset Management?

Have you ever found yourself searching for your company's logo, only to come across five variations? Then, once you have found these logos, it takes you additional time to track down the right person to confirm which one is the correct version to use.

This can occur time and time again, with various resources, and can easily lead to frustration and wasted time.

This is where a digital asset management system can help your business.

What Is a Digital Asset Management System?

According to Adobe, digital asset management (DAM) “is the process of organizing, storing, and retrieving digital assets such as images, videos, audio files, documents, and other types of digital content.” 

This means that digital asset management systems or digital asset management software are designed to help a company organize all of its digital assets. These types of digital assets can range from your company logo to videos you share with potential customers or even important product documents.

A digital asset management tool is essential for any business, as it can improve efficiency within your organization.

Why Do Companies Need Digital Asset Management?

You might find yourself wondering if you really need to invest in a digital assessment management solution. The short answer is yes.

There are numerous benefits of using a digital asset management system. Let’s explore some of the key reasons why your company should be using a DAM:

• One Source of Truth - A DAM solution can provide a centralized location for managing digital assets across your business. This can help ensure your employees are using the correct and approved digital assets when creating your brand’s collateral.

• Brand Consistency - Since only approved marketing materials are uploaded into the DAM, these can be accessed by team members across departments, which ensures that only the latest versions are used.

• Tagging - Oftentimes DAM software comes with the ability to tag digital assets. With tagging, this can make it easier to find the assets you need. This means that if you are looking for a specific video, you can click on a relevant tag and quickly find what you are looking for.

• Searchable - Assets can be searchable which means team members can quickly locate specific resources. This leads to increased productivity and reduced time spent searching for relevant documents.

• Increased Productivity - With the ability to tag and search, relevant assets can quickly be retrieved. This not only saves time but also minimizes the risk of duplicate efforts and confusion on the correct versions.

What Are Examples of Digital Asset Management?

There are numerous companies out there that offer digital asset management solutions. Let’s explore some common digital asset management system examples.

Digital Asset Management Companies

• Lumavate - Lumavate is a product experience management (PXM) platform that also has additional capabilities. This functionality includes a DAM, PIM, and DXP, which manufacturers would need to manage their product experiences.

• Brandfolder - Brandfolder is a DAM platform that enables companies to easily organize all of their digital assets. Brandfolder has had some feedback that the search functionality is not intuitive and you would not be able to create digital product experiences with their platform, since it is only a DAM.

• Bynder - Bynder is a DAM platform that is not a cost-effective solution. This platform would also not allow users to create digital product experiences.

• Adobe DAM - The Adobe digital asset management platform allows users to store digital assets under their Adobe Experience Manager solution. That being said, Adobe is not a PXM that was built for manufacturers. With this in mind, this solution might not be ideal to use to create experiences like product onboarding.

Is Dropbox a Digital Asset Management Tool?

Dropbox is defined as “a home for all your work. You can store and share files, collaborate on projects, and bring your best ideas to life—whether you're working alone or with colleagues and clients. With Dropbox, all your files are backed up to the cloud and available online.” That being said, it does not have the ability to store complex images and videos that can then be easily added to your digital product experiences.

How Do I Choose a Digital Asset Management System?

Now that you understand why your company needs a digital asset management system and what are common examples, how do you go about choosing the best digital asset management system? The best solution is one that is more than just a DAM. 

Ideally, you would find a solution that has both a DAM, PIM, and DXP all in one. The good news is that there is a solution like this on the market. One of the top digital asset management systems is Lumavate.

Lumavate’s PXM Platform is the best DAM tool for manufacturers because its DAM solution is a part of the overall PXM platform. Lumavate has PIM, DAM, DXP, and even messaging capabilities all within one platform. This means that they are extremely useful for manufacturers when creating a comprehensive product experience strategy.

Ready to learn more about Lumavate? Book a demo with one of our product experts.