Any organization considering implementing a Digital Asset Management (DAM) system evaluates the anticipated Return on Investment (ROI). A positive ROI on software purchase should be the primary determinant in the decision-making process, particularly for small and medium-sized businesses where every expenditure is critical.
The first question to ask is: Why invest in a DAM system?
A DAM system facilitates the storage of all digital assets (such as photos, videos, graphics, brochures, logo files, and documents) in one secure and centralized location. Users gain quick, permission-based access to these assets from any device, allowing for efficient management as part of their business operations. Additionally, assets can be edited locally without dedicated editing software and easily shared with external stakeholders such as suppliers and customers.
With the benefits of a DAM system established, the next question is: Is this investment worthwhile?
Time is money – this adage holds true. Creating digital assets incurs expenses, whether through platforms like Canva, stock image purchases from Shutterstock, or external agency services. Without a DAM system, the likelihood of misplacing assets and needing to recreate them is high.
Consider this: the time spent searching for digital assets translates into significant costs annually. On average, organizations handle approximately 60,000 digital assets each year. Prior to implementing the MasterDAM system, users reported an average search time of about 3 minutes per asset, totaling around 3,000 hours annually. This figure excludes instances where assets took several hours to locate, such as those stored on personal drives or Dropbox.
How do you quantify the cost savings of using MasterDAM?
Four parameters must be considered:
- Annual search hours
- Average hourly employee cost
- Cost of recreating existing assets
- Cost of the DAM system per year
| Yealy search hours | Average hourly cost of employee | Annual searching costs |
Without DAM | 3000 | $25 | $75,000 |
With DAM | 200 * | $25 | $5,000 |
Yearly savings | $70,000 |
Therefore, after deducting the system cost, the annual saving is $80,000!
Let’s delve into how the MasterDAM system saves you time:
The system features an AI object recognition tool that automatically tags uploaded images. This simplifies asset organization and retrieval.
Once all digital assets are centralized in a DAM system, their utility can be maximized. Assets produced by the marketing department can be repurposed across various campaigns, while the sales team can easily access and share them with clients.
Moreover, the DAM system safeguards against mistakes that could lead to copyright infringement or brand damage, such as using expired or unlicensed images, outdated assets, or incorrect versions.
