What Is Meant by Digital Asset Management?

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by Lumavate | Last Updated: Dec 14, 2023

Digital asset management allows businesses to keep digital assets all in one place. Working as a single source of truth, this collection of data can help streamline business activities and serve as a library for all digital content.

The right digital asset management (DAM) tool can help businesses with efficiency and collaboration.

What Is Meant by Digital Asset Management?

A simple digital asset management definition is that digital asset management (DAM) refers to the process of storing all digital assets, such as documents, images, audio, and video. The DAM software chosen by a company is typically managed by the marketing team and its assets are used by various teams within the business and through channel partners.

What Is a Digital Asset Management Platform?

A digital asset management platform (also known as digital asset management solutions) is a kind of software that allows companies to store, manage, and share their files. Digital asset management tools are often shared across multiple departments in the business as well as externally with agencies and channel partners.

What Are the Digital Asset Management Companies?

There are several prominent digital asset management software programs from companies including:

Each of these DAMs are standalone products, which means you will need to use a third-party solution or developer to create digital experiences for your business. The problem with needing a third party is that it takes more time to get work done, and there is no guarantee that all tools will integrate with a business's current systems.

There are other issues, too. Certain brands, such as Adobe, are known to be expensive and have lengthy implementation timelines, which can be troublesome for businesses hoping to start using their DAM right away. This is particularly problematic for small businesses hoping to begin using DAM or to scale their current DAM without exceeding their budgets.

On that note, it's a reality that all digital asset management companies are not the same. Finding the best digital asset management platform for a business's needs is key. Even the best DAM systems on the market don't include all the same tools, so it's important to look closely at what they offer.

Fortunately, Lumavate provides a DAM that is a one-stop shop and the best digital asset management software for businesses that want to handle digital asset management, organization, and storage in one place. It not only works as a DAM but also has full product information management (PIM) and digital experience platform (DXP) within its product experience management (PXM) platform. As a result, there is seamless, built-in integration that makes this DAM easy for users to start working with immediately. All data is centralized on Lumavate, meaning any changes occur in real-time.

As an added benefit, assets in Lumavate’s DAM can be associated with product records in only a few clicks and used in digital experiences built without any technical resources. Without the need for a technical background, onboarding is much simpler, and users can get to work immediately.

There's no reason to struggle with multiple systems since Lumavate offers an integrated approach that allows businesses to do everything they want with their digital assets all in one place.

What Does a Digital Asset Manager Do?

A Digital Asset Manager is responsible for the overall management of the Digital Asset Management (DAM) solution. As a result, they are ultimately the individual in the organization accountable for the DAM even though multiple people may be responsible for uploading or accessing digital assets on the platform. Generally speaking, a digital asset manager is a part of the marketing department. However, a digital asset manager job description can vary from company to company, so exactly what they do will depend on the role as it's designed for a specific business.

Common tasks digital asset managers handle include:

With Lumavate, integration, and centralization make tasks easier for these busy individuals, so they can put their focus on tasks that require their specialized attention.

Lumavate Makes Digital Asset Management Simple

Lumavate is a Product Experience Management (PXM) Platform that makes managing a business's digital assets simple. With this DMP, you can pull data from the Lumavate PIM or get your digital assets from the DAM. To learn more about Lumavate, reach out to get access to a live demo.

See Lumavate in Action

Meet with one of our experts to see how easy it is to centralize your product data, manage digital assets, and create digital product experiences. Trust us…you’re going to be wowed.