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Jody Sappington Oct 6, 2022 1:23:26 PM 2 min read

What are 3 Methods Used to Manage Asset Management?

Introduction

Asset management can be done in a variety of methods.  In fact, you and your team currently have an asset management system whether you realize it or not.  The 3 methods most commonly used to manage asset management include 1) Manual organization with spreadsheets and process agreements 2) DAM (Digital Asset Management) Software purpose-built for managing your assets or 3) Asset management tools provided with centralized storage systems. Check out our Ultimate GUIDE to Asset Management Systems for more information.

1. Manually Managing Assets

Many companies forgo a more formal Asset Management system and opt for, what is the often easier and always less expensive method of simply using Excel or Google Sheets to input information about projects, files, and locations. 

There are many advantages to this method, as it’s easy to deploy, flexible, and has no investment cost. 

There are downsides to this method as well.  It does not scale well and is 100% manual, making it very easy to not achieve the goal of organizing digital assets. 

 

2. Digital Asset Management Software

Another common method for managing your digital assets is purpose-built DAM software, or MAM software (Media Asset Management).  There are several very good options for managing video and creative assets including CatDV, Axle.ai, and iconik to name a few. 

The advantages of this method include powerful tools like AI tagging, and auto-indexing as well as deep integrations with many professional tools you are likely already using like Adobe Premiere and Frame.io. 

The disadvantage to this method is generally complexity, followed by cost.  These applications tend to ‘do it all’ which often leads to oversaturation of options resulting in low usage of these powerful tools. 

3. Asset Management Software Built into Storage

A trend that started around 2015 is asset management tools built into storage for creative teams.  A variety of vendors offer this such as EditShare, Studio Network Solutions, ProMAX Systems, and Facilis.  These are often bundled with storage as low or no-cost add on. 

The advantages of this method include a good balance of powerful features, but with a higher ease of use than an add-on DAM system, as well as a single vendor to work with on storage and asset management.  These can be a good compromise between a DIY and a purpose-built system. 

The disadvantage of this method is generally being locked into a vendor for both storage and asset storage management.  This makes it much harder to change vendors. 

Conclusion

An asset management system can help you better manage your company’s digital assets. Your team is using a method whether you realize it or not.  There are many options out there and it’s best to align the right tools with the right needs.  If you have any questions on how ProMAX Systems can help you with this, please contact us today!