In the past, business assets can only be classified into two categories: physical and intangible. However, in today’s increasingly digital world, a new classification was introduced—digital assets.
6 Key Requirements for an Enterprise Digital Asset Management
Unlike tangible assets, such as real estate and office furniture, you can’t hold digital assets in your hand. And the value of digital assets is often difficult to measure, as opposed to intangible assets, like copyrights and patents.
Hence, more often than not, entrepreneurs underestimate the value of digital assets. But it’s essential to understand that nowadays, digital assets have become much more important than any other type of asset there is.
hat’s why just like how you store and secure your physical assets, enterprises must also take steps to catalog, manage, and protect their digital assets through digital asset custody solutions. One of the best ways to do this is by establishing an enterprise digital asset management (DAM) system.
What Is an Enterprise Digital Asset Management?
The traditional method of managing an enterprise’s assets is to set up a server inside the office and create a backup of all files. These include photos, documents, presentations, videos, and all vital company data.
Unfortunately, this method often leads to overcrowded, bulky, and disorganized servers. And even if it’s the most perfectly organized server, it doesn’t change the fact it’s only accessible from the inside.
Simply put, it’s just not a practical way of managing digital assets. That’s precisely why enterprise DAM systems were introduced into the industry.
DAM is a system that aims to manage every sort of digital asset used by an enterprise, like documents, videos, audio, images, and more, all in one place. This system can take many shapes, but it’s usually in the form of a platform or software.
In short, DAM is a tool designed to help enterprises store, find, manage, share, and retrieve assets in an organized manner, as opposed to the traditional method.
If you want to know more about enterprise DAMs, including how they work and their potential benefits, you can proceed here.
What Should You Look For in a DAM System?
While all types of organizations can get value from enterprise DAMs, not all DAM systems can provide all the solutions. Each enterprise is unique, and each team in your company interacts with your digital assets differently.
Hence, your best bet is to choose a solution according to your enterprise’s structure. On that note, here are the six key requirements you must look for in a DAM system.
1. Scalability
One of the main goals of an enterprise is to grow. Therefore, you must expect your collection of digital assets to grow as well. So while your collection can fit in a 500-GB platform now, it might come to a point where a whole terabyte can’t contain it eventually.
For that reason, when choosing a DAM solution, you must make sure it’s scalable, meaning it doesn’t have any restrictions or caps when it comes to storage space. Otherwise, you’re bound to stumble upon complications further down the line.
Of course, to figure out your requirements in terms of scalability, you might have to do an audit on your current assets and the rate at which they’re growing. This should give you an idea of how scalable your DAM system should be.
2. Security
Phishing, malware, virus, and trojan are just a few examples of threats that can potentially damage or even completely destroy the digital assets that hold value in your enterprise.
Therefore, data security should also be one of your top requirements when looking for an enterprise DAM.
Of course, you shouldn’t rely solely on the security measures of the software. You must use it in conjunction with other security measures to maximize the security of your digital assets and enterprise as a whole.
3. Compatibility
If your business has been operating for more than a year, chances are you’ve already gotten used to utilizing platforms like database programs, accounting software, and word processing tools.
These are some of the essential platforms an enterprise must have in order to function. Since one of the purposes of DAM is to help organizations access files easier for different business operations, it’s a common practice to integrate DAM software with the other programs your enterprise uses.
So for the second key requirement, make sure the DAM system is compatible with the following software:
- Accounting tools
- Database software
- Desktop publishing programs
- Word processing tools
- Billing software
- Payroll software
4. Accessibility
Since your DAM system is supposed to make digital assets more accessible, it goes without saying the software must also be. Perhaps the most accessible such platform can be is when your employees can access it through the internet.
For that to happen, the DAM solution must be able to make the system available as a web app. It may also help if the system is available as a mobile app to cater to employees who mainly use their smartphones.
In other words, the DAM system should be accessible from browsers, mobile devices, and desktops.
5. Personalization
Having full control over the DAM software should also be one of your key requirements when selecting a solution. That way, you can make full use of the software by installing the features you need and removing the ones you deem unnecessary.
Of course, being customizable won’t be of much help if there aren’t many features available, so make sure it has the following features:
- Search bar
- Filters and sorting
- Download buttons
- Version control and history
- Sharing options
- Access control
- Multiple format compatibility
- Meta tagging
Being able to customize the appearance of the DAM software can also go a long way in optimizing the workflow in your enterprise.
If you can change elements like its color and layout, you can make it so that it would be easy to look at and interact with, which may be helpful for employees who aren’t exactly techies.
6. Feasible Onboarding
Centralizing all your enterprise’s digital assets into the DAM software would require a lot of effort from the provider and your employees.
Since your employees are already accustomed to how the enterprise used to handle digital assets, they’d most likely feel overwhelmed by the sudden asset management framework change.
For that reason, you must also consider whether it’s possible to introduce the new DAM system into your onboarding process.
If so, this can help your new employees get accustomed to the features that’d be at their disposal.
Final Words
While it’s true not every digital asset management system could provide solutions to all problems, there are bare minimums you must look for if you want your system to be at least half-decent.
By taking into consideration these six essential requirements, you should be able to find a somewhat ideal enterprise DAM system for your organization.
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