AI innovation fuels record quarter for Bynder

24.01.2024 - 05:50:45

Business Wire India

Bynder, a global leader in enterprise digital asset management (DAM) has today released data highlighting the strategic importance of enterprise DAM and content for brands looking to grow amidst market uncertainty and economic headwinds.

Increased market demand highlighted by record number of new business logos and customer expansion in Q4 2023 as brands continue to see content as a strategic enabler
AI functionality drives demand and is included in nearly 50% of new business deals in Q4
Customers report time savings of 30-40% utilizing AI, and are 2x more likely to find the assets they need
Leading indicators show significant growth in enterprise DAM usage and integration as businesses look to improve efficiency and drive increased ROI from their investments in content.

The need to deliver customers an exceptional content experience is driving more brands to look for efficiency, speed to value and increased ROI in the creation, management and distribution of content. 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 marketplace.

Recent AI innovations have highlighted Bynder’s market leadership, and its host of AI and automation capabilities have led to continued growth in new business, customer adoption and platform usage. The latest of these innovations, AI Search Experience, enables identification of similar assets and text in images, as well as the ability to search using images and identify duplicate assets. These capabilities allow teams to find, reuse and deliver more relevant content, quicker and more effectively.

Brittany Chase, Project Specialist at Architecture and Planning firm, HFA, said, “AI Search Experience would save between 30% and 40% of time from not having to upload and tag assets that already exist in the DAM.” In addition, a US-based healthcare company attributed a minimum saving of 6 hours a week to the new AI functionality, enabling team members to focus on more strategic initiatives.

As organizations continue to use content as a strategic advantage, usage of enterprise DAM enables efficiency across the entire content lifecycle. Across 2023, Bynder saw a 38% year-on-year growth in the number of assets stored on their platform, and a 250% increase in delivery of assets from Bynder’s platform to websites. Over the holiday season Bynder saw an exponential uplift in assets created, stored and distributed as brands looked to deliver exceptional digital shopping experiences.

Bynder’s hosts the largest marketplace of out of the box integrations and in 2023 this grew 38%. In addition, Bynder reported a 176% increase in API calls to their platform showing the criticality of a connected ecosystem to improve content operations.

Bynder CEO Bob Hickey said, “As digital commerce continues to accelerate, brands need to provide a seamless content experience to their customers. Our continued year-on-year growth, culminating in a record Q4 in 2023, indicates that investment in an enterprise DAM platform is vital for those looking to deliver content experiences while gaining compelling value and ROI from their content operations and IT investments.

“We’re pleased to see that our ongoing innovation and market leadership in AI has further driven our growth in Q4, highlighting that AI has become a strategic tool for marketers looking to streamline content operations and improve customer experience.”

For more information on Bynder and its AI capabilities, please visit https://www.bynder.com/en/solutions/initiatives/ai-automation/.