DAM Perks up Financial Services in the Digital-First World
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DAM Perks up Financial Services in the Digital-First World

By Energy CIO Insights | Tuesday, August 13, 2019

In a digital-first world, the capability for FS marketers to locate and handle rich-media marketing assets easily, swiftly, and cost-effectively makes the business sense better. It is time for the FS firms to revive their DAM strategy for the utmost possible competitive advantage.

FREMONT, CA: Significant complexities arise when financial service firms grow digitally ambitious with their marketing activities. Soon, managing their productive media assets along with connected digital rights and permissions, become difficult. To the greater complexities, companies have responded by establishing a considerable level of digital asset management (DAM) capability, for over 20 years now. However, the widely spread utilization of digital assets become more sophisticated in financial services (FS), the systems for organizing, keeping, and checking everything undergoes an evolution too.

In several cases, organizations still use a moderately rudimentary content management platform or DAM infrastructure that has been paved together from piecemeal solutions. It puts down the FS marketing teams at the mercy of reduced transparency and coordination. It also gets generally inefficient as users have to hunt around for the newest versions of files and find it difficult to understand how and where the digital assets can be utilized.

To hold up the new generations of digital campaigns, banks, and other, FS firms have started to revisit the existing approaches to digital asset management. Larger companies have various technologies that store and manage their systems. Each of them functions as a specific use in different parts of the business, resulting in legacy silos and limited functionality.

Beyond the FS firm’s restrictions, the market-leading DAM technology has come up with five significant methods that can help to address the issues:

Insightful Asset Management:

There are differing perspectives which do not get reflected in traditional content organization systems and can be a host for limiting the effectiveness. In case, a social media manager who solely needs to see an image with specific dimensions might have to go through irrelevant metadata fields and image renditions at an initial stage.

Preferably, a DAM system can readily arrange individual teams, so that people see materials entirely relevant to their needs and can manage their assets intuitively. In the same manner, product teams can also organize their ideas and workflows around individual products; promote marketing teams, and photographers via photoshoots and campaigns.

The latest DAM allows assets to be cross-referenced and accessed by teams concerning the organizational structures that matter to them, by supporting the creation of objects such as product, campaigns, and photoshoots.

 Extremely Scalable:

To ensure the longevity of firms, new solutions will need the ability to scale as well as cope with the towering digital asset sizes and volumes. An advanced DAM can handle high search volumes, sophisticated, rapid, and full-text searches of assets and metadata. Besides, it can foster global collaboration and content reuse with fast file transfers.

Production:

An ideal DAM system tends to provide several levels of work-in-progress functionality and workflow automation, to improve the occurrences of the digital assets and monitor their status. It also acts as a single source of truth for every asset production, where each version and alteration is viewed directly within the DAM interface. It holds power to employ cutting-edge AI and ML technologies to make automatic tagging and metadata creation available. Furthermore, competence improves when the DAM becomes a nearly invisible layer on top of applications being used by teams, and has shortcuts for tools, relevant to their roles.

Immediate Asset Control:

An uneven or inefficient approach toward DAM can create a potential for inefficiency and risk. A modern DAM, nonetheless, allows for detailed user-level and asset-level permissions, so that none of the users access the content they are not supposed to see. It also shields the reputation of the FS firm from digital watermarking to automated legal review processes depending on specific language, configurable workflow automation, and security integration.

It has the ability to react swiftly in the event of a crisis or negative publicity related to a sponsor or model by putting it through a process of termination. It further assures that each event associated with the campaign and asset will be spotted and action will be taken without delay.

Out-of-the-Box Customer Experience:

A traditional DAM system was intended primarily as a repository for finished assets. But in recent times, DAM has been progressively linked to the customer experience. The appropriate system can help FS firms to simplify the creation, review, and publishing of new, customized content using atomized assets. Companies can save nearly 80 percent of their time to create content by automating asset personalization.

An exceptional DAM solution can avail a complete view of the customer, through entirely tracking the asset access and making it easy to see the effectiveness of the outcomes. Some solutions can also serve assets directly to end customers, which reduce duplication with experience and web content management (WCM) systems. It makes sure that the customer always sees the newest approved content and makes it much easier to monitor the value of assets upstream.

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