How to Choose a Digital Asset Management System for Your Business

Five tips to help you identify the right software and avoid common DAM selection mistakes

If your business holds onto and uses digital assets, you’ve probably experienced many frustrating searches for precisely the right document or file ahead of a big pitch, company-wide meeting, or in the throes of a campaign brainstorming session. Even worse, you’ve probably found yourself (or your team) wasting time looking for – or even re-creating – those documents, while precious and advantageous opportunities slipped just beyond your reach. If this scenario sounds all too familiar, you’re not alone. Channel partners and international resellers experience these same frustrations. Unaware of where they can locate your company’s most updated logo or brochure, they often find themselves either using outdated versions, or overloading your HQ with requests to send the right files over already. Digital asset management (DAM) systems can put an end to that. As tools or solutions designed to create a single source of truth or a centralized database, DAM systems highly organize all of your organization’s digital assets, making it easier than ever to find, retrieve, work on, and collaborate on files, documents, and any other digital materials, whenever and wherever you need them. The global DAM market is booming and is expected to grow from USD 3.4 billion in 2020 to reach a staggering USD 6.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.0%. With so many digital asset management solutions available, how do you know which to choose for your business, so you can avoid common mistakes? Here are five handy tips to get you pointed in the right direction.

Tip #1 – Before you get started, audit your existing processes

A preliminary review of your existing systems and workflows will help you better understand current weaknesses and which features and capabilities you should be looking for in a DAM system. Be sure to determine who uploads new documents to your current system, who uses the uploaded documents and why, how well or how poorly your processes are performing, and anything you may like or dislike about your digital asset management endeavors to date.

Tip #2 – Determine your configuration needs/preferences

Before you select any particular DAM system, it’s best that you first determine your organization’s configuration needs. Think ahead to how existing and future assets will be stored. The DAM solution’s ability to be configured to work with cloud storage and without any installation or IT management  should be make-it-or-break-it for your business. After all, the goal is to make your operations more seamless and efficient, not more time consuming and involved.

Tip #3 – Study up on the latest DAM tech and trends

Your selected DAM system should be  as precise as possible, so as to ensure your work processes are seamless, successful, and have your organization’s security and scalability in mind. A DAM system that leverages the latest artificial intelligence technology to enrich the information within the bounds of your organization is key

Tip #4 – Evaluate ease-of-use

Your business has its own, unique needs, preferences, and constraints. You don’t have time to waste on navigation struggles; your selected DAM system should be intuitive and easy to use, at all times. From the initial learning and assimilation stage, through ongoing operations, it’s critical that your DAM system  best benefits your business. Is there an adjustment setting, or will coding or programming need to be involved? Can you create and name your own catalogs on a per-user basis? Can it manage video or other media-rich content? Do your due diligence to determine which DAM system is easy to use and requires little to no outside help and maintenance.

Tip #5 – Prioritize partnerships and guidance

Finally, while it’s easy to veer towards vendors offering more attractive prices, remember that a DAM system is a long-term investment. Look beyond the DAM system itself and into the company that provides it, so as to determine whether you’ll receive the ongoing guidance, support, and maintenance you’ll need, from the initial implementation period, and for years to come.

MasterDAM, the only DAM system for your business

With so many DAM systems on the market, selecting the right solution can be challenging, especially when you’re pressed to onboard and get your digital assets organized. However, taking time to find the solution that checks off most if not all of your boxes will save you from falling into common gopher holes and making costly mistakes. Idea’s MasterDAM platform can provide your business with the single source of truth it needs, to make your everyday operations run smoother and more effectively. Contact us to discuss how Idea’s MasterDAM system best meets your business’ digital asset management needs, today!

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