The business process of organizing, storing and retrieving rich media and managing digital rights and permissions.
OK, we know that sounds awfully dry, so how about this:
Digital Asset Management gives you a single place to store your valuable files and organize them in such a way that your coworkers don't need your help to find them. By adding metadata to the files, you make them assets – their value increases since they can be found and reused when you need them again.
You can share important files, such as logos and graphics that you frequently need access to, and control which users have access to the system. By employing a set of metadata rules, you can make sure that all assets have sufficient information in them to be found and used later.
Remember: A file without metadata is just a file. A file with metadata has intrinsic value: it becomes an asset!
A key feature of DAM is the ability to integrate with other systems to allow convenient repurposing of the assets: for instance, an integration with a CMS to allow you to use your content on your corporate website, while the assets themselves reside safely in your DAM.