Digital Asset Management Requirements - What do You Need to Evaluate and How?

Selecting an appropriate DAM is critical to managing digital content effectively. When you carefully evaluate what you need from your DAM system, it ensures you don’t invest in unnecessary features or incompatible technologies and that the DAM system you select aligns well with your company’s goals.

A digital asset management requirements plan provides a clear roadmap for streamlining the buying process. Vendor evaluations become structured when the asset management requirements are in place. This way you can compare easily between different solutions and make quicker decisions.

Key Content Challenges Shaping Your Digital Asset Management Requirements

Having worked with multiple clients from various industries, we found common content challenges revolve around three main buckets - process, storage, and functions.

Let us elaborate on them for a better understanding.

Process inefficiencies in the content lifecycle

The content lifecycle can be divided into two sections – creation and distribution.

Longer approval cycles, lack of version control, and erratic collaboration can jeopardize content creation.

Distribution, in turn, is affected if the search and retrieval functions are not streamlined with proper folder structures, naming conventions, or metadata tagging.

To elaborate on how even a single inefficacy can impact the entire lifecycle, let’s consider the approval cycle. When approval takes long, the content lifecycle gets distorted, which could impact the success of marketing campaigns. A delay in content distribution could lead to missed opportunities or losing out to competitors. Inconsistent approval processes, such as stakeholders releasing a design element to the content team without brand approval, could lead to loss of content integrity. Miscommunications and issues in version control are other challenges of poor approval processes.

Storage challenges

When digital assets originate or reside in numerous locations, users find it challenging to organize and retrieve them. Also, moving assets from one place to another makes security a prominent risk and version control very hard. This could result in the use of obsolete assets or those that are not brand-approved, which can have a far-reaching impact on your brand’s reputation and make you risk legal liabilities. Collaboration also becomes a burden when no centralized space exists, as teams find it difficult to work together on a project.

Lack of robust asset management functions

When managing digital assets, it is important to have a system that supports the primary functions of organizing, searching, retrieving, downloading, sharing, and access control in a robust manner. For instance, sharing an asset without centralization is risky. Employees often share files over emails, leading to a loss of control over versions or security risks. It also means when searching for an asset, employees will need to dig into individual emails, which could take time.

Here's a DAM demo for you to understand what are the key features for managing you creative workflow

Creating an End-to-End Digital Asset Management Requirement Plan

Step 1 - Understand your content challenges

The first step to recognizing what you need from your DAM solution is to identify your digital asset challenges. Why? Because it helps you understand the features or customizations required to tailor the DAM solution to address the precise inefficiencies or gaps that exist in your organization. Common content challenges range from multiple content formats, incongruent storage locations to inconsistent use of metadata, collaboration holdups, and more.

Step 2 -  Conduct a content lifecycle assessment

The easiest way to identify the pain points in digital asset management is to conduct a content life cycle assessment. Map the content journey from creation to deletion and gather feedback from the stakeholders in each stage. Study and assess all the dimensions of the content lifecycle, such as the different stages of approval, the collaboration matrix, storage locations, tracking of version changes, metadata consistency, and more. Review and evaluate the processes and systems. Record the gaps and irregularities in your content lifecycle to create a foundation for developing relevant solutions within the digital asset management framework that will address these pain points.

Step 3 -  Understand your organization’s requirements

Digital asset management requirements vary for each organization, even if they are from the same industry. Every industry is different in the standards they must comply with, the security imperatives they must adhere to, or the kind of content they deal with. Similarly, the organizational size places different demands on a DAM system - from the simplistic need of a small ad agency to the large volumes of media a television producer handles, the capabilities needed vary vastly.

Step 4 -  Select a well-suited Digital Asset Management solution

A well-suited DAM solution does not disrupt existing processes and encourages faster user adoption. It aims to solve your organization's specific problems without diluting its implementation with general-purpose functions and tools. When you choose a DAM system after considering all the requirements, it can become an integral component of your digital ecosystem, working in cohesion with other systems and delivering tangible benefits that resonate with your company goals.

Digital Asset Management Checklist to Choose Your DAM Vendor

An organization that needs a DAM software needs a solution that is easy to implement, efficient, flexible, reliable, and scalable. However, measuring suitability and ensuring it meets your specific needs is crucial.

Consider the following criteria for choosing the right DAM solution for your business.

1. Migrating to an expandable and future-ready storage

The primary function of Digital Asset Management (DAM) is to serve as a centralized repository, simplifying the storage and retrieval of digital assets. So, the DAM system you choose must have expandable storage.

A cloud-based platform, like ImageKit, provides a centralized location for storing high-resolution images, with the ability to expand as needed. ImageKit's integrated media library offers infinite storage and allows users to configure external storage options. The data backup and sync feature ensures the availability of different versions and archived assets, eliminating the need to store multiple size variants of the same file.

Once DAM is implemented, migrating existing assets to its media library requires a thoughtful approach. The steps involve assessing current asset states, identifying formats, metadata, and ownership, establishing a clear taxonomy and metadata structure, and planning for data cleansing and normalization. It also encompasses evaluating compatibility with file formats and metadata standards and implementing a phased migration plan with robust security measures. Comprehensive user training and ongoing monitoring contribute to a smooth transition, preserving the accessibility and usability of assets within the DAM solution.

2. Moving beyond the basic functionality of metadata and quick searches

Facilitating quick searches is a fundamental aspect of a DAM system.
ImageKit for, e.g., allows advanced searches using filters and tags, empowering you to group multiple search queries and search files using their custom metadata. ImageKit's AI supplements the search with visual search capabilities & autocomplete suggestions. Beyond these features, our comprehensive DAM functionality involves version control and access control for asset integrity security and facilitating streamlined processes. The adaptability to various file formats and superior integration capabilities enhance the DAM system's utility. Customization based on your organization’s needs is possible to enhance usability and overall efficiency.

3. Seamless collaboration between stakeholders

A DAM’s collaboration features enable stakeholders to work effortlessly without geographical constraints. This is particularly important in a globalized business environment, where external stakeholders often need real-time access to assets across various time zones.

A cloud-based DAM, such as ImageKit, supports borderless content sharing within and outside the organizational boundary. Easily facilitate collaborative efforts among teams by seamlessly sharing assets and media collections within the ImageKit platform. Unlike conventional access levels such as view, comment, and edit, ImageKit offers nuanced controls, ensuring secure sharing within your account. Harness the power of Collections to grant everyone access to the most up-to-date versions, thereby streamlining workflows and retaining control over the distribution of media resources.

For external stakeholders requiring access to specific assets without entering your Digital Asset Management (DAM) system, ImageKit provides a solution. Safely distribute assets through public links for assets, folders, or collections, guaranteeing a controlled and secure sharing experience. Moreover, the DAM system DAM systems is equipped with version control to ensure that collaborators always work with the most recent asset versions, mitigating errors and confusion in collaborative projects.

4. Role-based permission management for security, efficiency, and safe collaboration

A DAM must align with the specific workflow requirements of each role in the team, which means it must provide role-based access, which also ensures security and efficiency in collaboration. Team members must have appropriate permissions to view, edit, or share assets based on their responsibilities.

For example, ImageKit allows five kinds of role-based access. Administrators are given full access, including user management. A developer can access everything but not the billing or user management. The finance team can have access to analytics and billing. Full access or view-only access to the media library is given based on need. Avoiding unnecessary restrictive permissions reduces delays and bottlenecks.

User permission management is vital for large and distributed teams to protect sensitive assets from unauthorized access, prevent data breaches, and preserve intellectual property. When DAM assigns appropriate permissions, it helps streamline workflows and fosters seamless collaboration, facilitating controlled asset sharing and communication within teams. This is especially important in regulated industries; user permission management ensures compliance with industry standards, enabling such organizations to enforce data governance policies and demonstrate adherence to regulations.

5. Adaption to various asset formats and types

Digital Asset Management (DAM) must support various file formats to accommodate the diverse

range of digital assets modern organizations use. As businesses create and utilize content in different formats, such as multimedia, electronic forms, digital images, scanned PDFs, and even emerging file formats like AR, VR, or 3D, they need a versatile DAM system to ensure comprehensive coverage. ImageKit can store high-quality images in High-efficiency Image File (HEIF) and AVIF formats for superior quality and compression.

With ImageKit, you can stream the best video viewing experience for different devices over a broad set of connection speeds. It is called adaptive bitrate streaming. Images are delivered based on the users' network quality. Users can seamlessly access and work with assets in their native formats, preserving the content integrity. Moreover, this capability facilitates collaboration across teams, as different departments often work with specific file types. Your DAM system's ability to handle diverse formats enhances workflow efficiency and allows you to leverage the full spectrum of digital assets for marketing, communication, and operational needs.

6. Evaluating integration capabilities

Ensuring smooth integration with existing software and systems is essential for optimizing

overall operational efficiency within DAM. This seamless integration facilitates cohesive workflows, eliminating operational silos and nurturing a unified digital ecosystem. When various tools, including content creation software, marketing platforms, and project management systems, effortlessly integrate into the DAM, it streamlines the asset lifecycle for easy creation,management, and distribution. This integration fosters cross-functional collaboration, allowing teams to access and share assets within familiar interfaces.

While DAM systems may not inherently support every organizational system, APIs (Application Programming Interfaces) come to the rescue with seamless integration by facilitating data exchange, automation, and interoperability.

Related Read: Here’s how ImageKit facilitates API-driven asset   management

• Build Custom Front Ends & Integrations: With ImageKit's Headless DAM, you can create tailor-made front ends and seamlessly integrate them with your applications, Content Management Systems (CMS), Product Information Management (PIM) systems, and other tools.
• Enhance Team Productivity: Empower your team to work efficiently with digital assets by integrating ImageKit's Headless DAM into their preferred tools. This integration streamlines workflows and boosts productivity.
• Embeddable Media Library Widget: Implement ImageKit's embeddable Media Library widget to integrate the Headless DAM directly into your existing platforms. This allows for easy access to digital assets without switching between multiple systems.
• Utilize Powerful APIs: Leverage ImageKit's APIs such as List and Search to enable seamless interaction with the Headless DAM. These APIs facilitate efficient management and retrieval of digital assets within your custom solutions.
• Develop Multi-Tenant Interfaces: Create multi-tenant media management interfaces for your end customers or develop solutions that seamlessly combine the DAM with other tools in your team's workflows.
• Custom Solutions for Unique Needs: Harness the capabilities of ImageKit's media upload and DAM APIs to develop bespoke front ends and solutions tailored to your requirements. This flexibility enables you to address unique challenges and optimize your workflows effectively.

7. Understanding pricing to know if it’s worth the value

Determining Digital Asset Management System (DAM) pricing can be challenging due to various factors, such as the complexity of organizational needs, user licenses, storage requirements, and additional features. The need for customization and scalability further contribute to the intricacy of pricing structures.

For example - choosing between on-premise and cloud DAM systems makes a difference to the price, as a cloud-based DAM is more economical with a pay-per-use model, while an on-premise system needs investment in infrastructure, but it offers better control. Similarly, an open-source DAM is inexpensive, but proprietary architecture can be tailored as needed.

Transparent pricing is crucial for informed decision-making, ensuring organizations understand the costs associated with DAM implementation and ongoing usage.

For instance, often, vendors do not include all the functionalities in the basic subscription package and offer them as add-ons and charge extra for them, or the installation and training show up as additional costs after the purchase. Such hidden costs can lead to unexpected financial burdens and hinder the successful implementation of DAM solutions.

Transparent pricing promotes trust between vendors and clients, empowers organizations to make informed choices, and promotes a more satisfactory DAM adoption experience.Several factors influence the Digital Asset Management (DAM) system pricing and contribute to the overall cost structure. Storage capacity is a primary determinant, where organizations pay based on the volume of digital assets stored. The number of user seats impacts pricing, as more users often necessitate higher licensing costs. Additional functionalities, such as advanced search features, collaboration tools, and integration needs with other platforms, contribute to increased costs. Customization needs, scalability options, and the level of customer support may also influence pricing.

Explore ImageKit's  DAM Solutions for Your Every Need

If you're considering ImageKit, you'll find a trio of pricing choices to fit your needs.

First off, there's the 'Forever Free' package, perfect for beginners. Simply sign up to explore its perks at absolutely no cost.

Should you find yourself drawn to the advanced functionality of our DAM, consider the Premium Plan. For just $89 per month, you'll have access to features that cater to your specific needs, and you only pay for what you use—no minimum deal required.

If your company deals with a hefty collection of assets or demands specific speed and security features, ImageKit offers custom solutions at a monthly fee of over $500.

We also have tailored pricing plans so you can ensure your requirements are met while enjoying the benefits of our platform.

Want to experience a DAM before investing in it?

Sign up for the free version of ImageKit.