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What Is Digital Asset Management Software: Analysis of Features, Benefits and Pricing

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What is digital asset management software?

Digital asset management software helps businesses manage their digital assets in an organized, secure and easy-to-retrieve manner. Such assets may come in the form of digital documents, music, videos, pictures and other digital data stored in devices such as laptops, desktops, smartphones and hard drives.

Most companies love to keep their data and digital assets organized. To help with this task, many corporations, big or small, run to the aid of digital asset management software. This popular program has been around for quite a while and the purpose of digital asset management software is to help companies with an array of tasks to manage their digital assets in an organized, secure and easy-to-retrieve way.

At the core of companies and businesses are huge amounts of files which are integral to the company’s needs. Many refer to these files as digital assets. By definition, a digital asset is any binary format that can be used. Most companies love to keep their data and digital assets organized. To help with this task, many corporations, big or small, run to the aid of digital asset management software.

What is digital asset management software? Digital asset management, also referred to as DAM, is the cataloging, annotation, and distribution of digital assets. To make this task easier, many companies rely on digital asset management software. This software will be best used by companies who have countless digital assets to organize.

The basic definition of digital asset management software is that it’s just a tool to be used when organizing digital content. The software is also considered to be under enterprise content management or EAM. What EAM is, is a broad term that many use to describe software the gives company owners and executives a way to overlook company-owned assets.

Previously, digital asset management tools were used solely by publishing and media companies only as part of making production easier. Many establishments have seen the benefits of the software and now, the tool isn’t limited to publishing and media companies anymore.

Source: Content Science Review.

Why use digital asset management software when one can organize the assets on his own? According to a report by Harvard Business Review, digital assets have doubled in the past 15 years. This is in lieu of firms investing resources into digitizing their physical assets. Seeing as digital assets are becoming a norm across various sectors, it’s easy to say that it might fully take over the industry and it would be best for businessmen to think of better ways to organize their assets.

The digital asset management market is already big, and it’s projected to be worth around $2.64 billion this 2019. A report by Research and Markets suggests that the sector will grow to $5.7 billion by 2023. A wise move for investors would be to rely on digital assets as soon as they can; organizing these assets will be a lot easier.

In this guide, we’ll go beyond answering: what is digital asset management software? We’ll discuss the different aspects of digital asset management. Specifically, we’ll touch on the following key points:

  1. Benefits of Digital Asset Management Software
  2. Features of Digital Asset Management Software
  3. Examples of Digital Asset Management Software
  4. Cost of Digital Asset Management Software
  5. Trends in Digital Asset Management Software
  6. Issues with Digital Asset Management Software

Benefits Of Digital Asset Management

The advantages of digital asset management software come aplenty. Tools in this field resolve an array of productivity issues that can set back a company and use up time and resources along the way.

  1. Easy retrieval. For starters, with the help of digital asset management software, content retrieval will be easier. If done the old way, getting a specific asset from a huge selection can cost a lot of time and can hamper productivity. Moreover, these digital assets can be reused, repurposed, and edited with this tool.
  2. User permissions. Another benefit of digital asset management is that it can give employees permissions and access to the assets. Clients using the tool can even set levels to the digital assets so that not all employees can gain access to one particular file on the cloud.
  3. Mobile access. In today’s fast-paced business world, business owners are most likely looking to access their files even if they are on the road. Some digital asset management tools provide a mobile version that gives clients access to their assets wherever they are, 24/7.
  4. Secure. Last but not the least of the benefits is security. Most tools providing digital asset management also come bundled with top-notch security for the files stored in the cloud. Many of the providers guarantee full privacy and security to their clients so they don’t have to worry about cyber attacks.

Authoring tool in Adobe Experience Manager.

Features Of Digital Asset Management Software

What does digital asset management software do? Each digital asset management software comes with a set of features that make it stand out above the rest. However, there are standard features of digital asset management software that clients should know of first.

  1. Management. What is digital asset management software but managing your digital assets. At its core, digital asset management software solutions come bundled with an array of tools that make management of digital assets easier. One of the most important tools is metadata. This gives files and content descriptions so that they can be easily searched and organized. Also in line with the searching of assets are advanced searching tools that give clients filters to help in searching very specific files. Some tools also give reports and analytics on the activities regarding digital assets.
  2. Sharing. A common feature across digital asset management software is an array of tools that aid in sharing files. An important tool that many software have is social sharing. This allows clients to directly share digital assets on their social media accounts. Another important sharing feature is one that allows several employees to work on one digital asset at the same time which makes collaboration a lot faster.

  3. Security. Digital assets are an integral part of a company and that is why it is important to keep them safe. With encryption, files are given data and account information so that they are protected even more. Another important feature when to comes to security is digital rights. This adds watermarks to digital assets so that even if it is taken by others, the rights remain to the client. One of the main purposes of digital asset management is to keep files safe and secure so many tools provide extensive protection.

Cloudinary’s media library with editing tools.

Examples Of Digital Asset Management Software

How does digital asset management software work? There are a few notable names when it comes to digital asset management that will give you a general idea of the key functionalities. There are a few that are a cut above the rest and they have set the bar for other digital asset management software. Here are a few examples of digital asset management software:

  1. Adobe Experience ManagerOne of the leading names in digital asset management is Adobe Experience Manager. This software is basically a center for companies to help distribute all sorts of media and digital assets with ease. What’s good about Adobe Experience Manager is that it can connect with other Adobe software like Creative Cloud and Marketing Cloud to provide a more streamlined experience. Those given access to the assets of a company can see the files wherever they are through the use of Adobe Experience Manager. This software also allows clients to add in tags and metadata to files to make managing and finding digital assets easier.
  2. CloudinaryThis digital asset management tool provides an array of management tools for companies worldwide. Cloudinary makes uploading, downloading, and storing assets to the cloud easier and faster. A good feature of Cloudinary is that it also offers an array of file editing tools before uploading a file. Basically, Cloudinary gives tools that resize, crop, convert digital assets that need to be edited first. Cloudinary will be best used by companies who mainly focus on media services. With the help of Cloudinary, clients can focus on other tasks at hand as this software makes a huge cut on the time and resources needed when it comes to digital asset management and media content distribution.
  3. Panopto. This software is made to give companies a platform to easily stream, share, or create on-demand content for the members of an establishment. Panopto is one of the most feature rich digital asset management software available. Some of its best features include livecasting, video streaming, video analytics, presentation record, live DVR, brand customization and system-wide analytics. With the help of these features, clients can provide presentations, and important videos to their employees in just a few clicks. Panopto also streamlines the video sharing or streaming experience by providing as little buffering times as possible regardless of the internet speeds between the users. Moreover, those in the video presentation can switch between presentations with ease so it’ll be easy for the presenters to provide examples. 
  4. Interplay MAM. This software comes from Avid’s line of tools and it can be integrated with other products such as MediaCentral Platform. With Interplay MAM,  teams in a company are able to easily access digital assets in a local and cloud storage. This solution can also be customized depending on what the company needs. This personal touch gives clients the chance to make their money’s worth through the application. Aside from the digital asset management tools, Interplay MAM also provides several analytic and reporting tools. With the help of this additional features, users of Interplay MAM can keep track of their digital assets and see which of them are more profitable to the company.
  5. ImageKit. An image optimization solution that offers smart image optimization in real-time, enabling users to easily optimize images via dynamic resizing and cropping as well as seamless and fast delivery. It offers users with a friendly platform that lets them tweak all elements of their pictures without losing image quality.

Panopto can host your high-res videos and keep them safe while easy to access.

Cost Of Digital Asset Management Software

The cost of digital asset management software varies from product to product. What’s good about it is that clients can easily find a solution that’s more in line with the budget they have in mind.

  1. Adobe Experience Manager. For Adobe Experience Manager, the price will come by quote. If clients are interested in the product, they should contact the providers for a rundown of the cost.
  2. Cloudinary. Cloudinary offers a few plans for their subscription. There’s a free plan that clients could avail but it is very limited. The basic plan is $44 a month and it offers a decent storage capacity. For those who want to go all out, there’s an advanced plan that costs $224 a month.
  3. Panopto. Panopto’s subscription fee also come in by quote and clients simply need to ask the provider for a breakdown of the expenses.
  4. Interplay MAM. The subscription Interplay MAM is also by quote so business owners can ask Avid for the prices.

In recent years, more companies are turning to digital asset management software to resolve their storage needs. It has become a norm when it comes to keeping a company’s files and data in a secure platform and many are expecting the software to improve even more in the next years. Digital Management Asset News notes that some of the trends in the field are:

  1. Connectors
  2. Commoditization of Metadata
  3. Location-Specific Tagging Goes Mainstream
  4. Continued Push Toward Process Automation
  5. Affordable AI
  6. More File Types
  7. More DAM Competitors

Issues With Digital Asset Management

There are a lot of advantages in using digital asset management but we cannot simply overlook the issues that come with it.

  1. Technical requirements. One potential issue with digital asset management software is that clients using this program might need to hire an operator that can handle the program. Although there are some software that are intuitive and easy-to-use, there are others that require experts to handle. While this isn’t necessarily a con, having to hire an extra person might not be the a good option for some.
  2. Security. The biggest problem with digital asset management is security. Since the files are stored in a server or a hard drive, there’s still a chance for something to happen to these files. The good thing is, a majority of the providers assure top-notch security so cyber attacks and data losses are hardly a problem.

By Nestor Gilbert

Senior writer for FinancesOnline. If he is not writing about the booming SaaS and B2B industry, with special focus on developments in CRM and business intelligence software spaces, he is editing manuscripts for aspiring and veteran authors. He has compiled years of experience editing book titles and writing for popular marketing and technical publications.

Best Digital Asset Management Software of 2019

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