Choosing a digital asset management solution (DAM) is not straightforward. As consumers, most of us go to a retailer and pick a product off the shelf – real or virtual. In fact, as consumers, there are usually only two or three real competitors to choose from in any one area – Microsoft or Apple, Netflix or Amazon Prime. But when it comes to buying a business solution, the decision making process can be infinitely more complex.
First of all, who is actually making the purchasing decision? Is it coming from marketing, or perhaps merchandising? Sales will have an opinion and needs, as will IT into whose systems the new solution has to fit seamlessly. Each department speaks its own language, has a greater or lesser technical knowledge, and may or may not already have experience of similar DAM solutions .
It is rare to find a single resource which evaluates the marketplace and is understandable and relevant to all potential buyers and stakeholders of a DAM system. Which is why Research In Action’s (RIA) Vender Selection Matrix Digital Asset Management SaaS and Software: The Top 20 Global Vendors is a hotly anticipated resource.
Each year, RIA deploys its unique methodology to explore and evaluate the growing range of DAM solutions available worldwide. Certainly, it is not the only matrix available to help marketers make purchasing decisions, but it is the only one that is entirely vendor agnostic. Comprised of a buyer survey that makes up 60% of its evaluation results, along with press reports, peer contacts, social media, webinars and more, RIA’s vendor selection matrix asks the right questions so that you can review the information all in one place and make much better decisions as a result.
DAM Evaluation Criteria
How well providers perform in RIA’s top 20 ranking depends on a various evaluation criteria, from how responsive a vendor is to client needs and market trends, to its ability to innovate. as well as how broad its product suite is.
For example, the top three priorities for companies considering a DAM solution are:
Fits customer requirements – 11%
Local support – 10%
SaaS platform – 8.5%
In addition, business and IT managers state that their top three investments in DAM for the next year will be around:
System performance and responsiveness – 13%
Artificial intelligence and predictive analysis - 11%
Migration to a SaaS platform - 10.5%
Finally, the top three areas of DAM support in terms of customer touchpoints for buyers are revealed as being:
Internet/Website – 17%
Customer Support/Call Center – 13%
Point of Sale (PoS) – 8%
From RIA’s independent evaluation of each DAM vendor, there were a total of eight different criteria, split evenly between each supplier’s strategic aims and the actual delivery of their product.
The strategic criteria look at how well each solution meets its market’s needs, how well it develops partner networks to help it broaden its product set, its overall financial health, and how well it sets itself apart from the competition.
In terms of product delivery, the matrix judges providers on how many capabilities the product exhibits, and whether those meet customer expectations, whether it is a significant player in the market, customer satisfaction and the relationship between product cost and perceived value.
The ranking of top 20 providers lets potential buyers see at a glance how well providers stack up. If this is their first foray into DAM solutions, the detailed evaluation of each company gives buyers an idea of how responsive and comprehensive one supplier is against another. For seasoned DAM buyers, there is a sense of how well providers are investing for the future, and which solution might help take their own business to the next level.
The matrix is also a tool against which DAM solutions providers can compare their own progress - censhare is delighted to be sitting in the top five DAM vendors, worldwide!
This selection matrix comes from independent research and consulting firm, research in action, and ranks the top 20 vendors of digital asset management solutions, as well as outlining macro trends and predictions for the industry globally.View Summary