Taking control of digital assets for a multifaceted return on investment

Is digital asset management on the agenda at your company? If not, it's time to ask why, says Paul Swartz, divisional executive at Argility - SA's leading digital transformation specialists.

"The best place to start with digital asset management (DAM) is a definition," says Swartz.

"Digital assets include videos, brochures, white papers, music, PDF documents, logos and any other content used by the business. DAM is one of the tools that businesses will need if they are to effectively roll out omni-channel strategies. These assets are generally under the purview of the marketing team, but, in the absence of a DAM solution - not necessarily under their control. These assets are not only used by marketers, they are also routinely accessed and used by line of business users in the supply chain, customer service and other areas in supporting omni-channel strategies," Swartz explains.

He says the old adage of 'you cannot manage what you cannot measure' is what drives the necessity for the introduction of DAM solutions. "There can be little argument that digital marketing and communication is an overwhelming reality today and part and parcel of being omni-channel ready. This in turn is critical for: agility; flexibility; cost reduction; greater control and competitive advantage. Most managers will appreciate that they have a substantial store of digital assets (which often represent equally substantial investments to create those assets). Many are likely to agree that the management and control of those assets is, at best, ad hoc and at worst, completely absent."

There are some hard facts on the benefits of DAM, too, from research conducted by IDC INFOBRIEF. It found that by implementing DAM, companies reported the following benefits:

* 79% increased revenue by 10% or more, by accelerating time to delivery for marketing campaigns, increasing the number of campaigns which can be delivered in a given period, and launching new products faster.
* 97% reduced asset creation costs by 10% or more, though better asset reuse, eliminating duplication, and reducing the number of assets created but never used.
* 86% reduced risk by 10% or more, by eliminating non-compliant use of licensed content, addressing the theft or leaking of intellectual property, and avoiding using the wrong (or unapproved) assets.

Swartz emphasises that by implementing a complete DAM system, it is possible for the first time to make sense of images, videos, music, PDFs and other documents in one central and searchable repository.

"Available as hosted solutions, DAM systems can be rapidly established on a subscription basis, putting them within the reach of any organisation which has out-of-control digital assets and, with little attention on this area to date, that probably means 'most companies'. This again highlights the crucial need for omni-channel readiness with all the benefits that this brings - the alternative is to risk obsolescence in a digitally transformed marketplace," concludes Swartz.