What Is Digital Management Software?

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by Lumavate | Last Updated: Dec 31, 2023

What Is Digital Asset Management?

Digital asset management, or DAM, is a method of efficiently organizing and storing a company's digital assets. The assets can range from documents, images, and audio files to videos and more.

The responsibility of managing a DAM typically falls on the shoulders of the marketing team. Their task involves meticulously curating, updating, and preparing these assets for deployment. However, the utility of a DAM is not confined to the marketing team.

A DAM tool allows all departments within an organization to access, share, and collaborate on digital assets easily. This improves workflow efficiency, saves time, and minimizes the risk of losing important files.

A digital asset management system also plays a crucial role in maintaining brand consistency. By having a centralized repository for all digital assets, companies can ensure that their branding guidelines are followed and that all assets align with the company's overall image and messaging.

In addition to organizing and storing assets, DAM also provides features like version control, metadata tagging, and search functionality. These features make it easy to find specific assets and keep track of the most recent version.

What Is Digital Management Software?

To streamline the process of organizing, storing, and maintaining a DAM, software was developed that automates most of the tasks. Instead of marketers needing to create their own spreadsheets, manually inputting and updating all data, and maintaining the sheet, the digital management software automates most of the work and centralizes all the data in one location.

Marketers can easily search through the centralized database to find specific assets. By giving access to the data to other team members, companies promote cross-collaboration and improve efficiency.

digital asset management software isn't just an internal tool, it can be shared externally with agencies, channel partners, and other stakeholders. This feature creates an ecosystem of collaboration and ensures all parties have access to up-to-date, approved assets.

When additional functionality is added to digital asset management tools, they provide powerful insights into the customer experience. The top digital asset management systems include a product information management solution or a digital experience platform to help enrich the metadata of digital assets and provide data-driven insights to create personalized customer experiences.

What Are the Digital Asset Management Companies?

The best DAM systems include Adobe, Canto, Bynder, Brandfolder, and Lumavate. These digital asset management companies all help to improve the process of storing and organizing company assets.

Adobe is a powerhouse in the digital software realm, offering an extensive range of functionalities. However, the comprehensive functionality comes with a high price tag that smaller companies won't have a budget for. The implementation process is also complicated and lengthy making it obsolete for companies who need a quick solution.

Canto, Bynder, and Brandfolder are standalone DAM vendors. These digital asset management examples provide robust asset management capabilities, but they still require partnerships with third-party solutions or agencies/developers to create comprehensive digital experiences. This could potentially add complexity and additional costs.

Lumavate stands out by offering a DAM capable of integrating with other powerful product experience tools. In addition to a DAM, Lumavate includes a full Product Information Management (PIM) system and Digital Experience Platform (DXP). This unique integration provides users with a seamless, efficient workflow.

Lumavate also simplifies asset management. With just a few clicks, assets in Lumavate's DAM can be associated with product records and used in digital experiences. This feature eliminates the need for technical resources, making it an efficient and cost-effective solution.

What Does a Digital Asset Manager Do?

Although many individuals across an organization may contribute to uploading and accessing digital assets, the Digital Asset Manager is ultimately accountable for the DAM's overall management. This role is typically housed within the marketing department, owing to its close interaction with brand materials and content.

A typical digital asset manager job description may include responsibilities such as maintaining the DAM's organization and structure, ensuring consistency in asset metadata, managing user permissions, and handling file conversions for compatibility. They may also oversee training for other employees to use the DAM effectively.

The Digital Asset Manager's responsibilities encompass more than just overseeing the DAM. They ensure that the system aligns with the company's strategic objectives, driving efficiency and productivity. They curate the assets, ensuring they're up-to-date, relevant, and ready for deployment whenever required. They also monitor usage, maintain the system's integrity, and implement improvements when necessary.

Effective digital asset management extends beyond the marketing department. Managers collaborate with other departments such as sales, product development, and customer service to optimize the use of digital assets.

A manager's oversight, coupled with strategic interdepartmental collaboration, can significantly improve a company's brand consistency and operational effectiveness.

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