Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The NRF’s Association for Retail Technology Standards has created the XML-based Digital Asset Management program to assist retailers in acquiring, storing, and maintaining photographs, logos, and graphics.
The growing need for digital assets that retailers can use across channels has created a management problem for most retailers. AMR Research Inc. reports that retailers spend $350 to manage each digital asset-- photographs, logos, and graphics. In response, The Association for Retail Technology Standards, a division of the National Retail Federation, has created the Digital Asset Management program to assist retailers in acquiring, storing, and maintaining their data.
“The creation of a Digital Asset Management Standard will be invaluable to retailers who now spend millions of dollars per year circulating their images between departments,” said Richard Mader, executive director of ARTS. “Ultimately, it is our hope that this new standard will save retailers money and time.”
Digital assets can represent a problem because often many departments within one company need access to digital assets, including sales, advertising, claims, and merchandising.
The ARTS Digital Asset Management Standard is an XML schema that allows retailers to request specific images from suppliers for communicating them in a standard format with associated classification information. ARTS says that by using the Standard, retailers can reduce their need to create images and can provide central storage for all departments to easily access a single copy.
“This first release of the Digital Asset Management Standard is just the beginning of leveraging a common standard for industry-wide cost savings,” said Jay Heavilon, Partner of MARS Interactive, a service provider. “The standard will save our clients money in terms of efficiency with the added benefits of reducing duplication of effort and decreasing time to market for merchandising of products with correct images.”
The standards were developed by representatives from: AccessVia, Blue Martini, El Corte Ingles, Interwoven, MARS Interactive, Reebok, Sears and QRS.