Reshaping the Way Organizations Think About Digital Asset Management
Posted on September 3, 2009
Filed Under Technology | 9 Comments
By definition, Digital Asset management (otherwise known as DAM) includes tasks and decisions relating to ingesting, annotating, cataloging, storage, retrieval, repurposing and the distribution of digital assets. DAM, in its earlier days, was referred to as optimizing, maintaining, thinning and exporting files. As digital libraries grew so too did the need to do more with the assets contained therein. DAM has since evolved to become an essential part of an organization’s business process for organizing rich media assets such as pictures, images, video and audio for storage, retrieval and distribution.
What Digital Asset Management Can Do For You
Many organizations are integrating DAM as part of their business-critical strategy for managing digital assets. They need dedicated solutions to help overcome operational and organizational challenges unique to them. DAM provides much needed centralization, optimizing workflow, virtual collaboration and seamless integration with other digital media applications so that there is minimal disruption to existing processes while maximizing business efficiencies. It ultimately helps organizations of all shapes and size work better, faster and smarter – giving them more time to focus on other mission-critical objectives.
Broadcast, Media and Entertainment
Primarily DAM is used by creative users including photographers, video editors, marketing and advertising professionals, to name but a few. So, DAM systems must integrate with all kinds of creative applications, allowing digital data to be quickly accessed, easy to manipulate in a collaborative environment and made available via simplified distribution. Other key benefits include streamlining internal operations, as well as the entire production environment; shortening editing cycles in post production and providing an end-to-end storage and management solution. DAM plays a vital role in media and entertainment businesses in innovating new designs, generating new sources of revenue or return on investment, and ultimately, in achieving high customer satisfaction.
Print and Publishing
DAM also helps print and publishing businesses in managing the assets that are created in image form like graphics and scanned documents layouts. DAM solutions manage various components of digital assets like images, photographs and their description data associated with them. DAM systems are a key component in identifying the most efficient way to get images, video, audio, pdf’s, InDesign, PPT’s, Excel, Word, EPS, GIF, and SVG files from where they are created and managed to their ultimate destination.
Advertising and Marketing Agencies
Advertising, design and marketing services companies face a challenging business landscape with shorter client engagement times, lower billed revenue per account executive, reduced customer switching costs and an increasing commoditization of the services they are delivering. These changes suggest that revenue growth appears to be an impossible goal for agencies when you also consider the: It provides a powerful tool that relieves some of the throughput strain on existing creative, studio, and production staff; meets the need for tighter security for clients’ rich media assets; and enables creative teams to move faster, be more efficient and effective everyday.
Educational Institutions
Instructors are challenged with the task of integrating e-learning environments with in-class teaching programs. DAM plays a vital role in helping modern educational and training institutions promote and encourage new forms of learning and generate revenue from sources never before possible. DAM systems give them the ability to leverage a virtual ‘treasure trove’ of existing learning assets contained within libraries and instructors’ offices. The technology lets instructors cost-effectively access, repurpose and deliver them via distance-learning, video lectures and instruction, self-service portals, and collaborative curriculum development and make them available to the faculty, students, and the wider world.
Conclusion
The unprecedented rise in the number of digital assets in an organization’s virtual library is one of several driving forces behind the need for sophisticated DAM solutions. In less than 10 years alone DAM has moved from a ‘nice to have’ service to a ‘need to have’ business requirement that: streamlines the creative workflow process; enables a centralized and collaborative creative working environment; provides a reliable and scalable platform that cost-effectively delivers assets across a distributed network; and finally, unleashes the revenue potential of an existing library of assets that can be easily repurposed to generate new top line growth. Innovative technology vendors and their ability to bring solutions to market are helping reshape the way organizations think about what DAM can do for them.
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The Following is an excerpt Lucent Technologies Management?The following is a excerpt from Lucent Technologies Management? Executive Summary We design and deliver the systems, software and services that drive next-generation communications networks. Backed by Bell Labs research and development, we use our strengths in mobility, optical, access, data and voice networking technologies, as well as services, to create new revenue-generating opportunities for our customers, while enabling them to quickly deploy and better manage their networks. Our customer base includes communications service providers, governments and enterprises worldwide. We have three segments organized around the products and services we sell. The reportable segments are Integrated Network Solutions (“INS”), Mobility Solutions (“Mobility”) and Lucent Worldwide Services (“Services”). INS provides a broad range of software and wireline equipment related to voice networking (primarily consisting of switching products, which we sometimes refer to as convergence solutions, and voice messaging products), data and network management (primarily consisting of access and related data networking equipment and operating support software) and optical networking. Mobility provides software and wireless equipment to support radio access and core networks. Services provides deployment, maintenance, professional and managed services in support of both our product offerings as well as multi-vendor networks. Beginning in fiscal 2001, the global telecommunications market deteriorated, resulting from a decrease in the competitive local exchange carrier market and a significant reduction in capital spending by established service providers.This trend intensified during fiscal 2002 and continued into fiscal 2003. Reasons for the market deterioration included general economic slowdown, network overcapacity, customer bankruptcies, network build-out delays and limited availability of capital. We believe that the market for telecommunications equipment has stabilized and is starting to grow in certain areas. The growing demands of enterprises and consumers for additional services tailored to their needs is creating the need for a new convergence of networks, technologies and applications. Required 1. Using the Consolidated Balance Sheets for Lucent Technologies for September 30, 2004 and 2003, prepare a common-size balance sheet. 2. Evaluate the asset, debt, and equity structure of Lucent Technologies, as well as trends and changes found on the common-size balance sheet. 3. What concerns would investors and creditors have based on only this information? 4. What additional financial and nonfinancial information would investors and creditors need to make investing and lending decisions for Lucent Technologies?
About Author
Founded in 1994, North Plains Systems, Inc. is the world’s leading provider of enterprise-class and hosted digital asset management and marketing asset management solutions. Its comprehensive family of TeleScope solutions delivers true end-to-end workflow support from asset creation and collaboration to production and distribution.
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