AMSTERDAM, January 23, 2024–(BUSINESS FEED)–Bynder, a global leader in enterprise digital asset management (DAM), today released data highlighting the strategic importance of DAM and enterprise content for brands looking to grow in a context of market uncertainty and economic headwinds.
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Increased market demand highlighted by a record number of new business logos and customer base expansion in Q4 2023, as brands continue to view content as a strategic enabler.
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AI functionality drives demand and is included in nearly 50% of new business transactions in Q4
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Customers report 30-40% time savings using AI and are 2x more likely to find the resources they need.
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Leading indicators show significant growth in enterprise DAM usage and integration, as businesses look to improve efficiency and generate increased ROI from their content investments.
The need to provide customers with an exceptional content experience is driving more brands to seek efficiency, speed of value creation and increased ROI in content creation, management and distribution. In this landscape, an enterprise DAM platform becomes mission critical as organizations compete for share of wallet in a growing and increasingly crowded digital and retail market.
Recent AI innovations have highlighted Bynder’s market leadership, and its extensive AI and automation capabilities have led to continued new business growth, customer adoption and use of the platform. The latest of these innovations, AI Search Experience, enables the identification of similar assets and text in images, as well as the ability to search using images and identify duplicate assets. These features enable teams to find, reuse, and deliver more relevant content, faster, and more efficiently.
Brittany Chase, project specialist at architecture and planning firm HFA, said: “AI Search Experience would save between 30% and 40% time by avoiding the need to download and tag assets that already exist in the DAM. » Additionally, a US-based healthcare company attributed a minimum savings of 6 hours per week to the new AI functionality, allowing team members to focus on more strategic initiatives.
As organizations continue to use content as a strategic advantage, using enterprise DAM enables efficiency throughout the content lifecycle. Over the course of 2023, Bynder saw 38% annual growth in the number of assets stored on its platform and a 250% increase in the delivery of assets from Bynder’s platform to websites. Over the holiday season, Bynder saw an exponential increase in assets created, stored and distributed as brands sought to deliver exceptional digital shopping experiences.
Bynder’s is home to the largest marketplace of out-of-the-box integrations and in 2023 this grew by 38%. Additionally, Bynder reported a 176% increase in API calls to its platform, demonstrating the importance of a connected ecosystem to improve content operations.
Bob Hickey, CEO of Bynder, said: “As digital commerce continues to accelerate, brands must deliver a seamless content experience to their customers. Our continued year-over-year growth, culminating with a record fourth quarter in 2023, indicates that investment in an enterprise DAM platform is vital for those looking to deliver content experiences while achieving compelling value and ROI from their content operations and IT investments.
“We are pleased to see that our continued innovation and leadership in the AI market further drove our growth in the fourth quarter, highlighting that AI has become a strategic tool for marketers looking to streamline operations content and improve the customer experience.
For more information about Bynder and its AI capabilities, please visit https://www.bynder.com/en/solutions/initiatives/ai-automation/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240123344937/en/
Contacts
Manisha Mehta
manisha.mehta@bynder.com
