Choose the Right Digital Asset Management Software for your Business

re you thinking of investing in a digital asset management software? And, did you know that the expected worth of global digital asset management software market is estimated to be around $5.7 billion by 2022? Indeed, with the proliferation of the marketing technology niche and the wake of the digital content tsunami, connecting digital asset management to your business verticals is now a priority. Well, marketing teams in many organizations are up on toes to manage this significant rise in digital content. Hence, if you are relying on digital assets, you are no exception. And, in order to thrive in the digital landscape, your in-house marketing team needs a perfect digital asset management solution to fuel a multitude of campaigns and drive marketing vehicles every day. So, which digital asset management software is right for your business? And, how do you make that decision?

Perform an audit before selecting the Digital Asset Management Software 

Whether you are a market newcomer or a leading solution provider, the first thing to remember is that technology is not a solution. Essentially, it’s a tool for your business to maximize scalability. Obviously, many unanswered questions crop up in mind before coming to a final decision about the right digital asset management system. However, don’t get overwhelmed with the sheer variety of digital asset management software available in the market. Instead, before you decide which digital asset management tool will fit business needs, ask yourself these questions. 

• First, what do I need from the digital asset management system and vendor? 
• Next, is the DAM system a replacement of the existing one in place? 
• And, what do I need to accomplish with the DAM software implementation? 
• Further, is there any metadata integration plan from the perspective of digital asset management users? 
• How many types of digital assets that the digital asset management tool should support? 
• Or, how much value shall I get from the digital asset management tool and digital assets? 
• Finally, are the key functionalities and integrations good enough to meet the user expectations? 

Thus, this audit will help you to review the key considerations that impact the business need for Digital Asset Management (DAM) Software. So, once you have found out the answers to these questions, its time to develop an actionable roadmap for making a DAM system purchase. Hence, while mapping your marketing technology it is important to identify the solution requirements.  And, clarify how the new system will complement the organization workflows.

Now, take a look at these 5 top guidelines to help you identify effective digital asset management (DAM) platform for your business. 

1. Identify digital asset management system requirements 

First, perform a future-focused evaluation of your existing infrastructure to identify the system requirements. Further, to be sure that your DAM solution is the right one for your business infrastructure, consider these points. 

• How will the DAM system integrate into my business infrastructure? 
• What types of authentication do I need for user access to protect sensitive and proprietary information? 
• Do I need to address the compliance issues to users for their ease of access? 
• What will be the impact of analytics on my existing system that includes digital assets and content? 
• Do I need an enterprise solution to address a multitude of configuration options? Or a less complex solution coupled with pre-packaged features will suffice? 

2. Distinguish the top business challenges that digital asset management should solve 

Further, a close inspection into your business requirements will identify your key selection parameters. And, help you see through the challenges that your DAM solution should resolve. So, in order to find out the business requirements, examine these points closely.

• First, learn about the different use cases of the DAM solution across the organization. 
• Next, check if you need to build custom workflows or modify asset management software workflows. Also, check if there’s any pre-built solution for workflows. 
• Now, check the compliance requirements that include reporting and eDiscovery, you might require. 
• Further, look for the different access levels for sharing. This is based on the distributed workforce or third-party vendors that require configuration set-up for access levels. 
• And, examine if you need to give rights for control, use, management of assets under enterprise copyrights policy. 
• Finally, inspect your DAM software scalability based on unique business needs 

3. Determine if you need a cloud-based, hybrid or on-premise DAM solution 

Next, check on your budget limitations and available IT resources to determine if you need cloud-based, hybrid or on-premises DAM solutions. In fact, this will help you envisage if you need to scale up or down in the future. 

4. Determine the digital asset management ROI 

Additionally, always remember to calculate the dollar value, revenue gains, and organizational benefits. Essentially, this will give you a fair idea of the additional revenue you expect to generate based on digital asset management deployment. 

5. Get approval from the internal stakeholders

And finally, since you have defined the business requirements of your enterprise DAM system, it’s time to get the approval for the purchase. So, let the internal stakeholders validate the impact of DAM software on business and support when you present the solution to business decision-makers. Also, don’t forget to brief them about the business value and the ROI that the DAM solution will generate for your business. 

To conclude, DAM software purchase can be a vital decision for your business. While there’s a lot more to consider before choosing and implementing the DAM solution for your business, check out our ngDesk asset management tool. The platform supports dynamic features that can be customized to manage the entire asset lifecycle for your business.