You know what they say, “money talks”. It’s just sometimes the price tag nervously whispers back “how much?” Certainly when working out how much Digital Asset Management software costs, the expense varies as much as the solutions. In this article, we’ll explore the key factors impacting price.
How will your DAM be deployed?
The deployment model of Digital Asset Management software plays a significant role in determining its cost. There are generally two options available:
This model involves hosting the DAM software on your own servers, which requires additional infrastructure, maintenance, and IT support. The upfront costs associated with hardware, licenses, and implementation are typically higher.
Cloud-based DAM software is hosted and maintained by the service provider. It offers scalability, flexibility, and lower upfront costs, as you pay a subscription fee based on usage or a tiered pricing structure. This is by far the most common deployment method.
What features are needed?
The features and functionality offered by DAM software greatly influence its cost. Basic DAM systems generally provide core functionalities such as asset storage, metadata management, and search capabilities. As you move towards more advanced solutions, additional features like version control, automated workflows, advanced metadata capabilities, AI-powered tagging, and integrations with other tools and platforms are included. This of course results in a higher cost.
Scope for scalability and customization
While you may initially begin with a basic offering of features and functionalities, you need to be aware of the costs to add on to your tech stack as your business and systems scale up. Additional costs may also present themselves in the form of number of users and storage. And, if your DAM needs highly specific customization to align with existing workflows or company branding, this will involve additional development time / higher costs. When working out how to buy a digital asset management system, it’s wise to build out a roadmap with your provider for future budgeting.
The ability of DAM software to integrate with other systems and applications is crucial for seamless asset management across the organization. Integration with popular software like content management systems (CMS), customer relationship management (CRM) tools, project management platforms, and creative software can enhance productivity and efficiency. The complexity and level of integration required will determine the impact to the cost.
User licenses and access levels
The number of user licenses and access levels needed within your organization can influence the cost of DAM software. Some solutions offer pricing tiers based on the number of users who will access the system simultaneously or based on the roles and permissions required. The more users and varied access levels you require, the higher the cost is likely to be.
Training and support
For a DAM to be effective, it has to be used. Thorough onboarding and ongoing support are crucial for the successful implementation and utilization of DAM software. Some providers include training and support as part of their pricing package, while others charge separately. Consider the level of training and support you may require and evaluate the associated costs to ensure a smooth adoption process.
Vendor reputation and service levels
The reputation and credibility of the DAM software vendor also play a role in determining the cost. Established vendors with a strong track record may charge higher prices due to their superior tech and reliability. Additionally, the service level agreements (SLAs) offered, including uptime guarantees, technical support, and data security measures, can impact the pricing structure.
But the most important question is…
Can you afford not to deploy a DAM? Consider the hours wasted hunting for decentralized creative assets, the cost implications of using unapproved assets that are either out of license or non-compliance as well as data security risks. If you’re a medium to large organization, it’s likely the effort will be worth the reward.
To find out about the full range of efficiency gains, read our Ultimate Guide to Digital Asset Management software. Or if you want more information on the price of IntelligenceBank’s award winning DAM software, click here.