Saving money is something every company seeks to do. For those working in creative or marketing teams, reducing company expenditure means there is potentially more money for remuneration, not to mention the kudos from the CFO’s office. One way a company can potentially save money (and become more efficient) is by using a DAM system. Read on to discover how this can save your company money.
Reduce outsourcing costs
If you have no design resource in house and rely solely on outsourced agencies, you can soon run up a hefty monthly bill for their services. According to this article from 2019 the average costs can range from $150 to $600 per hour for a design agency, which is not cheap. If your agency has all your digital assets, then each time you need to communicate with them you will be contributing to their monthly fees. Far better it would be if you had all those assets in house within one cloud-based piece of DAM software.
Reduce staff time wasted looking for assets
Using a Digital Asset Management tool means that you can easily search for assets through keywords, potentially saving hundreds of hours of staff time that could be put to a much more productive use. At the end of the day time is money and the more time you can save doing one task, the more you can use it on another task. If your team/colleagues can quickly and efficiently get their hands on the file(s) they need it will save them a huge amount of unnecessary admin time.
Avoid copyright fees
Using an unlicensed image could land your company with a substantial fine. However using DAM software means you can track whether an image can be used legally or not, because a company using a DAM can specify which images can be used in any marketing material, as well as approving each and every asset which is being created by others within the company. It only takes one rogue colleague or agency to cut a corner and grab the first image they find from Google and before you know it, you could have a letter from the rights holder.
A serious data breach could unleash an unknown amount of financial damage to a company. By securing your digital assets security you are drastically reducing the chance of these assets falling into the wrong hands and wreaking financial damage to your company. Although digital assets are not the same as credit card details or P and L data, they are still hugely valuable, so in effect a DAM tool will pay for itself by helping avoid a data breach. It makes sense.