Unsuccessful search as a cost factor: Why a digital asset management system is indispensable.

Costs due to unsuccessful file searches

The inability to find the files you need quickly not only leads to a loss of productivity, but can also have a financial impact. Studies show that inefficient data management results in significant costs. For example, according to McKinsey reports, employees spend up to 19% of their working time searching for information. This corresponds to almost one full working day per week per employee. Extrapolated to a company with 100 employees, this means an immense loss of productivity.

In addition to the direct costs of lost working time, there are other negative effects: Delays in projects, duplication of work and employee frustration. According to a study by the McKinsey Global Institute, employees spend 28% of their working time processing emails, 19% on researching information and 14% on internal company communication. This corresponds to 61% of working time or 24.4 hours of a 40-hour week. Only 39% of working time remains for role-specific and therefore value-adding tasks, which corresponds to just 15.6 hours per week. Especially in creative and marketing-oriented teams that need to access digital assets on a regular basis, inefficient search processes can have a significant impact on the workflow. According to a study by IDC, inefficient digital file management costs companies up to €3.5 million per year.

In addition, data breaches caused by improper data management can be costly. According to statistics from Statista, the estimated cost of the most serious data protection breach in the last three years for companies in Germany averages 4.35 million euros. (en.statista.com)

Advantages of a digital asset management system

A DAM system centralizes the storage, organization and access to digital content, significantly increasing efficiency in file management. By implementing such a system, companies can realize the following benefits:

Time savings: employees can find needed files faster, which increases efficiency. According to a study by Brandfolder, organizations with DAM platforms spend 28% less time searching for digital assets. (brandfolder.com)

Cost reduction: Reduced search times and improved data management can result in financial savings. According to a study by Forrester Research, companies achieve an average return on investment (ROI) of 366% over a three-year period with DAM systems.

Improved security: Clear access rights and centralized data management minimize the risk of data breaches. Especially in the context of GDPR (General Data Protection Regulation), a DAM system allows companies to ensure that all sensitive files are properly stored and managed.

Increased efficiency: Marketing teams report a 34% increase in efficiency through optimized workflows and better asset management. (brandfolder.com)

Brand consistency: A DAM system ensures that all teams are working with the most up-to-date and approved versions of logos, product images and other marketing materials. This prevents inconsistencies in brand communication.

Better collaboration: Remote teams and external agencies can access the assets they need at any time via a DAM system without having to rely on manual file transfers. This improves collaboration and reduces misunderstandings.

Economic benefits and long-term profitability

For most companies, implementing a DAM system is a financial no-brainer. A positive net return on investment is usually possible in the first year through cost savings alone. While factors such as brand value and legal risks are more difficult to calculate in the short term, many companies see these as additional benefits. The investment is therefore often primarily justified by cost savings, with a stronger brand and reduced legal exposure as additional benefits. (brandfolder.com)

Companies using a DAM system report not only cost savings, but also a significant increase in efficiency in the production of marketing materials. For example, a global company was able to reduce the production time for new campaigns by 40% by introducing a DAM system, as all the required assets were immediately available.

A practical example shows that by implementing a DAM system, companies can not only regain an overview of their files, but also save costs. (genesis.swiss)

Conclusion: The unsuccessful search for files is an often underestimated cost factor in companies. By implementing a digital asset management system, companies can not only increase the efficiency of their employees, but also achieve financial savings and increase data security. The long-term benefits range from increased brand integrity and improved collaboration to reduced legal risks. In the face of increasing digitalization, an effective DAM system is an indispensable tool for modern companies.