Digital Asset Management demand is growing – the market is set to reach over $5.2B by 2023, and for a good reason. Companies need a way to catalog, store, and easily access their information assets, whether digital or analog. They can serve as a library or archive of information and store several versions of documents with the ability to restore previous versions.
Often businesses will use DAM for workflow management, a repository for branding, logo, and media files to ensure brand uniformity throughout campaigns. This prevents duplication of data (imagine all the time wasted having someone work on the wrong version of a file), among other benefits.
DAM is categorized as such if it fits the following criteria:
● Enables users to search for files, access them and tag assets within the software
● Can manage rights and permissions of media content to embed on websites (external or internal) and for external use.
There are four basic models for DAM administration:
A third-party vendor manages SaaS (Software as a service) DAM. It is a cloud-based DAM solution that is accessed through the internet, possibly through a browser. There are a few drawbacks to this type of solution, as many software solutions are not compatible with existing in-house systems. This design is typically by design so that you are encouraged to use other settlements by the same vendor.
This DAM solution is on-site and installed on company servers, hosted on the company’s local network. This is ideal if you need greater control of your assets.
Hybrid (Saas and hosted) DAM
A company would want to use a hybrid DAM if they wished to the added benefit of accessing data through the cloud while still running the software through local servers.
Open source DAM
Open source DAM solutions are software programs with source code that a company can access freely so that they can create and modify a DAM solution that is tailored to their needs. If your company has particular customization requirements, open-source DAM is your best bet – your IT team will be responsible for the installation, customization, and maintenance of the software.
Each company must evaluate its DAM needs to determine which model is best suited for them. It is also essential to assess needs for the long-term – will the capabilities be scalable as the company grows? This is when an open-source DAM should be considered as a viable option.
You may be ready to switch to Open-source DAM if you want the following:
1. Secure and controlled access – you can give limited access to specific sets of data. Only the people authorized to see it can access it.
2. Customized communications management.
3. Faster adaptation as you grow your business.
4. Effortless search and filter – your open source DAM will enable even faster, more intuitive, and accurate search results, saving precious time, and increasing efficiency.
5. Flexibility and freedom