Digital Asset Management is on the Rise
In many cases, when people today talk about business assets, they mean more than physical or tangible assets, which have long been the most important measure of business value. Companies, especially those engaged in e-commerce, increasingly have significant “digital assets” that have a significant impact on their profits. This makes effective management of digital assets increasingly important.
Digital asset management is approaching what some experts call a “critical mass” and a potentially volatile period in the short existence and history of digital asset management. Precisely because it is such a new area and experience, sometimes it is difficult to manage it. One reason for this is that as today’s digital assets become more and more important to the business, the solutions that asset managers can use to effectively manage these unique assets are not standardized at all.
Because of this non-standardization factor, digital asset management, while becoming increasingly important, is still “technically” in its infancy. Industry insiders expect that combining both technology and management tools will lead to smaller and often more innovative players teaming up with larger competitors or simply discontinuing their operations.
The current definition of a good asset management system includes a combination of software tools and technical solutions for hardware for businesses of all sizes, and includes workflows that use these digital assets. This includes a full range of digital files, digital storage devices and digital communication channels that provide the use, sharing, integration and transmission of information.
Digital Asset Management is also a special software category that has grown dramatically in recent years, especially as digital media is growing. There is no doubt that today almost every type of organization has invested a lot of time, money and resources in digital work, which has paid significant dividends to the organization.
Digital asset management software is based on the creation of a secure electronic “information exchange center” for storage, day-to-day use, archiving and disseminating digital data assets. This “information service” is essentially a powerful database structure, carefully constructed around the organization of company files, name agreements, and day-to-day workflow patterns. Such digital management software is also often referred to as Multimedia Asset Management (MAM), content management and digital asset storage.
Digital asset management is expected to become a multi-billion dollar industry in the near future, as more enterprises, organizations and even individuals continue to move from traditional information formats and media of all types of enterprises to digital formats. This creates unique opportunities for investors and developers, as well as for people honing their skills in this important area that will only grow.
It’s worth noting that managing digital assets isn’t just about keeping in check and control of hardware, software and workflows. It is equally important, and sometimes more important, that highly skilled people not only produce high-quality digital assets, but also know how to properly manage these electronic assets.