Feature Article: The Implications of Covid-19 for DAM – Part 1
My co-contributor and DAM News Editor, Ralph Windsor, has recently published the first instalment of his two-part feature series investigating the implications of the current Coronavirus pandemic for the DAM industry. With no direct precedent, Ralph takes a look back to the global financial crisis of 2008 as the nearest comparable scenario, and although the differences are obviously far more tragic and immediate with Covid-19, it is nonetheless an historic event that can provide some insights into how businesses and individuals react and proceed after a meltdown. The article first considers the likely short-term uptick in usage and adoption of digital solutions due to lockdown and increased demand, however, the longer term effects and the actions taken by both vendors and customers during the recovery period can be difficult curveballs to anticipate or prepare for, let alone handle.
“The business impact of the virus is very much like the thing itself. If there is any form of weakness in either the DAM or the vendor who offers it, this is likely to get found out” [Read More]
After providing a sizeable list of weak-points that could potentially cause a business to go under, Ralph warns that no vendor should feel overly secure:
“A number of vendors reading the above list of points above, might begin to feel quite secure and perhaps even a little smug. That kind of complacency needs to be fully disinfected from anyone’s thinking, however. The definitions of ‘high’ (especially as it relates to anything to do with cost) are going to get comprehensively tested.” [Read More]
Ralph’s straight-talking narrative doesn’t pull any punches, and with a notable absence of rose-tinted predictions, it might not be the news you were hoping for. There are however, a number of serious and important observations and insights into the inevitable transformation of the DAM landscape in the coming months and years. You can read the full article in our features section. Part two will be published tomorrow (15th April 2020).
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