PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Locating and reformatting its 2,000 product images as needed once took 1,500 hours of labor a year. Digital asset management software now reformats a batch of 700 photos in under an hour.
Shoe manufacturer Cole Haan has trimmed some $50,000 from the cost of repurposing its product images for different formats by automating the process through MediaBin Inc.’s brand asset management solution, e-commerce project manager Buzz Morley tells InternetRetailer.com.
The savings are in the form of labor costs, adds Morley. Until January, when Cole Haan implemented MediaBin’s software, the company stored its estimated 2,000 product images and logo graphics on CDs . To locate, download and manually repurpose the images into different media formats as requested by its manufacturing plants, retail partners and other departments within the company, Cole Haan had been depending on up to 1,500 hours of freelance help per year.
Since Cole Haan went live with a transactional web site in December 1999, “The demand for digital images has grown tremendously,” says Morley. “Keeping up with it was practically becoming a full-time job for the freelancers.”
He adds the company has already broken even on its investment in MediaBin, which he places at around $50,000, far ahead of schedule on what he’d initially estimated as a three-year payback. The company saved on implementation costs by reconfiguring some unused servers to cut its hardware investment to connect with Media Bin’s platform. The remaining costs were in software, training and licensing fees.
“It used to take 15 to 20 minutes just to locate an image on a CD,” says Morley. “Just on the time savings on that task alone, not including repurposing the images, we’ve already broken even.”