Compliance and Governance in Enterprise Digital Asset Management
Enterprise digital asset management, or DAM, software helps enterprise-level companies manage all data and assets in accordance with applicable regulations. Companies can ensure compliance by using a centralized platform and system for standardizing the collection, securing, and distribution of assets. Successfully implementing a robust DAM platform empowers companies to remain agile among continuously evolving rules and regulations regarding data privacy.
TL;DR: DAM as the Engine for Content Operations
Compliance and governance are fundamental features of Enterprise Digital Asset Management. Compliance focuses on conforming to external legal requirements and privacy laws, while governance sets the internal rules and procedures for asset creation, storage, and sharing throughout their entire lifecycle. Enterprise DAM ensures compliance by using granular access controls to protect sensitive data and tracking asset usage through audit trails. Effective governance relies on standardizing workflows and prioritizing employee training to avoid misuse and ensure data cleanliness.
Overview and Definitions in Enterprise DAM
Before exploring how Enterprise DAM manages these requirements, understanding the concepts of compliance and governance in a standalone context is essential.
Compliance
Compliance means “conformity in fulfilling official requirements,” such as laws and regulations. In the context of digital assets, this typically focuses on laws surrounding the collection, protection, and distribution of personal information by companies. Laws and regulations set standards for how consumer data must be handled.
Governance
Governance refers to the process of “overseeing the control and direction” of an organization. For DAM, this means setting internal rules and procedures for creating, storing, and sharing all digital assets and information.
In the context of compliance and governance, cybersecurity and clear, efficient processes are the most important aspects of enterprise DAM.
Key Elements of Compliance in Enterprise DAM
Data privacy regulations continuously change how enterprise-level companies collect, store, and use data from individuals.
Protecting Sensitive Data
Using an enterprise DAM platform built with privacy in mind allows companies to set granular access controls that protect their most sensitive data from misuse. Access controls prevent unauthorized users from accessing specific assets, ensuring confidential data stays safe. Administrators can set precise levels of access for individual users or groups.
With enterprise DAM software, records are kept, accessed, and updated from one centralized, protected place. DAM systems include strong security measures to protect intellectual property and sensitive corporate information from unauthorized access or breaches, such as access controls, encryption, and secure backup.
Industry-Specific Requirements
Sensitive data compliance requirements often vary by industry. This is why companies in regulated fields must prioritize features that provide enhanced control.
- PII Management: Compliance involves the proper management of personally identifiable information (PII), such as customer and personnel contact and payment information.
- Healthcare: For medical and healthcare organizations, compliance requires protecting personal health information (PHI) per HIPAA.
- Finance: For financial institutions, compliance includes managing private financial information properly per the Gramm-Leach-Bliley Act.
On-premises DAM systems may be the preferred choice for industries with strict regulatory demands, like healthcare and finance, because they offer enhanced control over data security and compliance.
Governance Frameworks for Effective Enterprise DAM
Governance frameworks include every standardized rule and procedure across a digital asset’s entire life cycle, from creation to distribution, and even to deletion.
Standardization Throughout the Asset Lifecycle
Governance rules should clearly define key aspects of asset management:
- Creation and Storage: How and where a new asset is created, and where it is stored (including accompanying information like metadata).
- Ownership and Access: Who is responsible for owning the asset, and who is allowed access to a specific type of asset.
- Approval and Distribution: When, how, and by whom assets may be approved and distributed.
- Deletion: When and by whom an obsolete asset should be removed or deleted.
Maintaining Consistency and Integrity
Content governance goes beyond protecting sensitive data; it also ensures the integrity and usability of the entire content library.
- Data Cleanliness: Governance encompasses ensuring data cleanliness and accuracy with smart technology that identifies redundant or obsolete records for merging, updating, or deletion.
- Consistency: It ensures that information remains consistent across tools and platforms through secure integrations.
- Audit Trails: Governance features include audit trails. DAM systems can include audit trails that track who accessed what files and when, as well as what actions they took. These detailed logs of asset usage, modifications, and distributions support compliance with regulatory standards and can be invaluable during external audits or legal challenges.
Risk Mitigation and Employee Awareness
Inherent risks in using a digital asset management system must be proactively mitigated. These risks include: unauthorized access or distribution of unapproved, incomplete, or private assets; inconsistent assets or data leading to misunderstandings; and accidental misuse or deletion of assets due to a lack of clear training and process documentation.
Strategies for Risk Mitigation
To avoid these scenarios, companies should plan to perform regular audits and assessments for risk mitigation within their DAM systems and processes. Collaborative efforts between IT and legal teams will also aid in ensuring compliance. Minimizing legal risks prevents substantial financial penalties and reputational damage.
The Role of Training and Culture
Employee training is one of the most important aspects of compliance practices. If employees do not properly understand the rules, procedures, and processes for dealing with different types of assets and data, accidental misuse of information is easy.
Developing a culture of compliance within the organization involves embedding compliance into everyday activities. Ideas for achieving this include:
- Providing regular training and reminders of processes.
- Promoting awareness of changing regulations as they arise.
- Putting in place clear, easy-to-follow procedures for noncompliance reporting.
Bottom Line
Compliance and governance are foundational to effective Enterprise Digital Asset Management. A DAM system is not merely a place to store files; it is a critical component that ensures assets are managed securely, used legally, and consistently maintained across complex, multi-departmental organizations. By prioritizing governance frameworks, robust security features like access controls, and comprehensive employee training, companies can stay compliant, reduce risk, and maintain a strong foundation for future growth. When selecting a platform, look for one that fits your operational requirements today, and has the scalability to grow with you tomorrow.
Frequently Asked Questions
What is the difference between compliance and governance in Enterprise DAM?
Compliance means conforming to external legal requirements, such as laws and regulations focused on protecting personal information. Governance refers to the internal process of setting standardized rules and procedures for creating, storing, and sharing all digital assets and information throughout the organization.
What are the most important aspects of Enterprise DAM in the context of compliance and governance?
In the contexts of compliance and governance, the most important aspects of enterprise DAM are cybersecurity and clear, efficient processes. This focus ensures that sensitive data is protected and that workflows adhere to established rules.
How does DAM protect sensitive data and support legal compliance?
DAM systems protect sensitive data by using granular access controls that let administrators set precise levels of access for individual users or groups, preventing unauthorized access. They also support compliance by maintaining audit trails, which track who accessed what files and when, providing logs that can be invaluable during external audits or legal challenges.
What should be defined within a governance framework?
Governance frameworks include standardized rules across an asset’s entire life cycle. Rules should define items such as how and where a new asset is created, who owns the asset, who is allowed access, when assets are approved and distributed, and when an obsolete asset should be removed or deleted.
Why is employee training crucial for DAM compliance practices?
Employee training is one of the most important aspects of compliance practices. If employees do not properly understand the rules and procedures for dealing with different types of assets and data, it makes accidental misuse of information all too easy.