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DMS vs DAM blog banner

What’s the difference between a DMS and a DAM?

It’s no punch up or old school rap battle that’s for sure. Nope, it’s way more sedate than that. But if you’ve ever sweated bullets thinking you signed the wrong version of a contract, or spent hours hunting an elusive piece of creative, this will rock your world better than Jay Z vs Nas on their best day. A DMS is a Document Management System and a DAM is a Digital Asset Management system. Document Management Systems are software developed in the 90s to manage paper based documents, evolving to also handle electronic documents. Digital Asset Management platforms are modern platforms designed to manage all your digital assets as well as documentation.

They both use high tech to help you collaborate, streamline workflows and organize your files to save you time, and potentially, a 95 million dollar recording contract.

What is a digital Document Management System (DMS)?

A DMS can be many things to many people. So, depending on who you ask, it can be a simple file structure on a desktop or an Enterprise level DMS, which is what we will be discussing here today. An Enterprise DMS’s wheelhouse is the workflow that goes into the creation, control, distribution, signing, and file management of online versions of documents. In its day, online document management’s value was particularly relevant when it came to legally binding documents such as mortgages, insurance policies, partnerships, and SLAs.

Through its ability to securely track the lifecycle of a document, a DMS reduces the amount of paper documents requiring storage, as well as the amount of time that’s needed to find a particular document and chase wet signatures.

While platforms like Microsoft Sharepoint and Dropbox are great for straight filing and sharing, they lack trackable metadata and there is very little you can do with those files. They do not offer the same functionality as a Document Management System. And a Digital Asset Management system trumps them all.

What is a Digital Asset Management (DAM) System?

If you’ve ever tried to find a poorly placed file on your computer, you know how frustrating it can be. Now imagine trying to find a specific image or video amongst millions of others. That’s where a DAM (Digital Asset Management System) comes in. A DAM system is a central file library that manages digital creative assets like images, videos and creative work. Users access these files by logging in to a secure online portal with a dashboard that acts as a control center. They are typically used by marketing and creative teams. IntelligenceBank’s Digital Asset Management system allows you to organize and locate vast quantities of high res files at what feels like warp speed. But it’s way more than a simple cloud filing system. Files in IntelligenceBank’s DAM can be tagged, tracked, rights managed, marked up for editing, manipulated and circulated, sent for approvals then download into different file formats. Better yet, if you’re dealing with a crazy amount of inventory, bulk actions can be performed on hundreds of files at a time with a single click. A DAM is also a great way to preload commonly used creative templates that satellite offices and franchisees can update with local pricing or dates and still be wonderfully on brand. Your DAM becomes a self-serve kiosk that cuts out hundreds of hours of to and fro.

DAM and AI

Artificial Intelligence makes previously labor intensive tasks a piece of cake. For example, AI can be used to automatically scan and tag thousands of images with the correct metadata, making your DAM file library easier to search. Audio and video file also benefit from AI as they can now be transcribed and time coded making them both accessible and searchable.
 
Artificial Intelligence is transformational technology that has made previously labor intensive tasks a piece of cake. Now, thousands of images in your DAM file library can be quickly searched and categorized whether it’s by person, a specific group of people, an activity, animals or locations.  Audio and video file also benefit from AI as they can now be transcribed and time coded making them both accessible and searchable.

Can a DAM also hold documents?

Along with its capacity for creative assets, our DAM file library system is also home to non-creative documentation relating to marketing projects. Want to find the 2021 Christmas media campaign Post Analysis? The Market Research deck on the new TV spot? The documentation supporting the next ESG campaign? Right this way… In fact, our DAM file library connects to Microsoft 365, so when you open up a document, presentation or spreadsheet from within the DAM, a new version will save right alongside it.

Key benefit of using a DMS or DAM

As well as making life easier for marketers, centralized DMS and DAMs also offer improved security. Because all your content is stored in a central online file library, it’s easy to set permissions, keep track of who has access to it and monitor for any security breaches.

Digital Asset Management extensions

IntelligenceBank’s DAM also connects seamlessly with other tools in our suite. Imagine the convenience of having your creative assets in your file library right alongside your brand guidelines. Our BrandHub, is a space for all things brand and brings style guides to life with video and downloadable assets. Completing the stack is our Marketing Operations tools that visualize and automate campaign management making collaboration and compliance effortless.

Which solution is right for you – a DMS or DAM?

The best way to decide is to figure out what your specific needs are and then find the system that can offer the most comprehensive and modern solution. Do you need a system that can manage both digital documents and assets? Or, do you need a system that will create and track documents approvals, contracts and reports with no need for images or video file management?

For big business with heavy compliance requirements, a DAM, with its ability to streamline governance of documentation and creative assets within and auditable, secure system is a far larger solution. If you’re Jay Z, with product endorsements, robot pizza truck ventures, staff contracts, album cover artwork and pictures of Beyonce and the kids, you’re definitely going to need a DAM.

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Find out more about IntelligenceBank’s online document and asset management systems by booking a live demo.

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