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How to Select a Digital Asset Management Partner

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Openasset

Published on 15th September 2021

Once you’ve determined that your organization can benefit from better Digital Asset Management (DAM) and you know which type of solution you need, it’s time to decide which provider is right for you.

Here are five simple steps to help you evaluate your options.

1. Look at your digital assets and how they’re used

First thing’s first, evaluate the size of your asset library and how quickly it’s growing.

Consider how many assets you have, what types of files you need to manage and where they are stored.

Next, consider who has access to this content. Is it multiple users in multiple locations? Do they need mobile access? You need to understand how your business is using digital assets, as this will be part of your DAM selection criteria.

Start by talking to the teams that depend on digital assets to understand their pain points.

2. Consider your technology and functionality requirements

When choosing a Digital Asset Management solution, consider what features you require from the system to meet the business needs you identified. Do you need project-based tagging, multiple image search options and controls for who can and can’t access images?

Consider whether you need a cloud-based DAM or are OK with one that is on-premise. Cloud-based Digital Asset Management systems are fast becoming the industry standard due to their ease of integration, global access and worry-free backup, but some firms prefer an on-premise solution due to having poor Internet service or need for a LAN.

Speaking of integration, ensure that any solution you are considering will be able to work with your existing systems, such as a CMS and any project databases.

3. Evaluate industry and fit

You’re not only choosing a technology solution; you’re choosing a business partner.

It’s important that your DAM provider understands your business, your industry and has a solution that accommodates it. If your vendor has a deep understanding of what you do, they’ll be more likely to provide reliable advice and best practices for successful implementation and ongoing support.

Ask your vendor to supply references that match your company’s industry and size. And be sure to ask what support they offer after the onboarding process.

4. Consider upfront and ongoing costs

Beyond the obvious software costs, there are other costs to consider when implementing a DAM. In fact, with some DAM vendors, it’s likely that you will spend more on services, such as software licenses, installation and configuration, data migration, product training, and ongoing support than you do on the software itself. Be sure to evaluate your own needs and ask your vendor to clarify their fees for support, training and customizations.

Take all these costs into account and balance them against the Return on Investment (ROI), which we’ll delve into in the next section.

5. Create and distribute a Request for Proposal (RFP)

Once you’ve done your homework and you have a list of criteria that your DAM solution needs to meet, it’s time to create and send an RFP.

In your RFP, detail your pain points and how you see a DAM solution solving them. Share real-world examples to bring the problems and anticipated solutions to life and set your expectations. You also need to include a list of the features and functionality you’ll need to solve your pain points.

Now, create a distribution plan to ensure the RFP ends up in the right hands. Make sure you scan the market for vendors that match your requirements, focusing on those with specific industry experience. Be wary not to cast your net too wide, though, as it could make for a more complicated review process.

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If you’re still a bit overwhelmed by the process, no need to worry. Contact one of our solution experts today, and we’ll be happy to walk you through the process of evaluating your options.