Security Prioritizing DAM Security from the Start: Addressing this Common Oversight in Vendor Selection Learn how to prioritize DAM security with MediaValet. We help organizations safeguard brand reputation & prevent costly data breach incidents. June 26, 2024 Jean Lozano Chief Technology Officer 4 min read I’m Jean Lozano, CTO at MediaValet.Over the years, I’ve had the privilege of speaking with hundreds of our customers. What often emerges from these conversations is a pattern: DAM security tends to be initially overlooked in the vendor selection process, only to surface as a critical factor later in the sales cycle.With this piece, I aim to highlight why a secure digital asset management system isn’t just important—it’s essential. Your business deserves top-notch protection, and I want to make sure you’re equipped with the knowledge to make informed decisions. This guide will delve into why security should be a central consideration right from the start of your DAM buying journey.In this blog post we’ll cover:The state of data security,The importance of DAM security, andIntegrating DAM security into the buying process.The State of Data Security in the Digital LandscapeOur digital world is full of opportunities, but it also comes with significant challenges. With the surge in digital data due to cloud computing, IoT, and remote work, the need for robust security has never been greater.Cyber threats are becoming more sophisticated and frequent. Just look at these recent breaches:Pegasus Airlines breach: In May 2022, the airline had a significant breach due to an unprotected AWS S3 bucket, exposing 6.5 terabytes of sensitive data, including flight information and personal data of employeesMOVEit Transfer breach: In May 2023, the cybercrime group Clop exploited a vulnerability in MOVEit Transfer, affecting over 600 companies and exposing sensitive data of 40 million peopleDropbox breach: In January 2024, 26 billion leaked records, including Dropbox data were found. Considered one of the biggest data breaches ever, it highlights the vulnerabilities and potential risks for growing organizations considering an option that cannot provide true security.T-Mobile API breach: In January 2023, T-Mobile faced a breach due to an API vulnerability, impacting 37 million customer accountsThese incidents highlight the devastating consequences of inadequate security, from financial losses to reputational damage. For instance, the global average cost of a data breach in 2023 was USD 4.45 million, marking a 15% increase over the past three years. Furthermore, cybercrime is projected to cost the world $23.84 trillion by 2027, up from $8.44 trillion in 2022.As regulations tighten, businesses must prioritize security and compliance. There’s no excuse for anyone operating in the cloud to not take this seriously and make the necessary investments.The Importance of DAM Security in the DAM Buying ProcessDespite the critical need for DAM security, it often takes a backseat during the buying process. Many organizations focus on usability and scalability, forgetting to thoroughly assess security measures. This oversight can lead to significant vulnerabilities, as usability and scalability are important, but they do not protect against cyber threats.Additionally, security is often not top of mind for marketers until a vendor selection process reaches the IT team. This delay in considering security can leave gaps in the evaluation process, as IT teams may uncover significant security deficiencies that were previously overlooked. Smaller organizations are especially susceptible to this risk because they often lack dedicated software oversight, increasing their vulnerability to cyber threats. These businesses frequently do not have the resources to invest in comprehensive security evaluations or the personnel to manage ongoing security needs.For example, small to mid-sized businesses (SMBs) often fall prey to cyberattacks due to inadequate security measures. Studies have shown that over half of small businesses go out of business within six months of a cyberattack. Moreover, 70% of SMBs do not enforce multi-factor authentication, a critical security measure, and 43% of cyberattacks target SMBs specifically due to their weaker security postures.These statistics highlight the critical need for integrating robust security evaluations early in the DAM selection process, ensuring that all potential vulnerabilities are addressed before they can be exploited. By prioritizing security from the outset, organizations can protect their data, reputation, and bottom line from the ever-growing threat of cybercrime.Common Oversights when Buying a DAMFocus on functionality: Buyers often become distracted by features over security.Perception of low risk: There’s a misconception that DAM systems are low-risk targets.Vendor assurances: Companies may take vendors’ security claims at face value without due diligence.Consequences of Ignoring DAM SecurityData breaches: Breaches like Dropbox and MOVEit show the severe impacts of neglecting security.Compliance issues: Non-compliance with GDPR, CCPA, and other regulations can lead to hefty fines.Operational disruptions: Cyberattacks can halt operations, delaying critical projects or worse flat lining the business.Integrating DAM Security into Buying ProcessEnsuring robust security in your DAM system is essential to protect your organization’s valuable data from cyber threats. Here’s how to make security a central focus in the DAM procurement process.Security certifications: Look for vendors with certifications like SOC 2 Type II and ISO 27001. These certifications demonstrate that the vendor has met stringent security standards. SOC 2 Type II focuses on the operational effectiveness of security controls over a period, ensuring that your data remains protected. ISO 27001 is an internationally recognized standard for managing information security, highlighting a vendor’s commitment to maintaining robust security practices across their organization.Comprehensive security features: Ensure the DAM system includes encryption, access controls, audit logs, and secure data centers. These features protect data integrity, limit access to authorized users, track user activities, and safeguard data in well-protected physical locations.Vendor assessments: Thoroughly review vendors’ security policies and incident response plans. Understanding their approach to security and their preparedness for handling breaches will help ensure they can effectively protect your data.Ongoing security management: Choose vendors that offer regular updates and continuous monitoring. This ensures that the system is protected against evolving threats and that any unusual activities are promptly detected and addressed.Secure Your Digital Future with MediaValetSecurity isn’t just an option—it’s a necessity. Prioritizing DAM security in your buying process protects your digital assets, ensures compliance, and maintains operational integrity. By integrating robust security measures, you can confidently navigate the digital landscape and safeguard your business’s future.MediaValet is the #1 in DAM security, making security a priority from the outset will help safeguard your organization’s reputation and prevent costly incidents in the future. Book a demo today to learn more about how MediaValetcan secure your digital assets. 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DAM Knowledge Leveraging the DAM Capability Model for Organizational Growth and Innovation In this detailed blog post, we explore the DAM Capability Model, its origins, practical applications, and the importance of community in fostering continuous improvement. June 11, 2024 Carlie Mason Director of Growth Marketing 6 min read Digital Asset Management (DAM) is essential for the efficient handling, organization, and retrieval of digital assets. At the forefront of advancing these capabilities is the DAM Capability Model, conceptualized by industry pioneer David Lipsey.Since the inception of digital asset management in 1998, David Lipsey has been at the forefront. Working with organizations on a global level, David is considered the leading expert in the field.This model has been instrumental in driving DAM adoption, growth, and innovation across organizations worldwide. The DAM Capability Model is the foundation of any DAM journey; whether you’re at beginner level or expert, the DAM Capability Model will enable you to elevate and future-ready your DAM skills.In this detailed blog post, we explore the DAM Capability Model, its origins, practical applications, and the importance of community in fostering continuous improvement.What is the DAM Capability Model?The Centrality of DAMThe Importance of Community in DAMHow to Apply the DAM Capability ModelThe DAM Capability Model Workshop (Video)This post is supplementary to the complimentary DAM Capability Model (available for download)! Read on to learn:What is the DAM Capability Model?The DAM Capability Model is a comprehensive framework designed to help organizations assess their current DAM practices and identify areas for enhancement. It serves as a roadmap for organizations at any stage of their DAM journey, from beginners to seasoned experts.Categories of the DAM Capability ModelOrganization: The “people” roles, responsibilities, technical know-how, strategic alignment and talent in an organization’s use and management of DAMInformation: The core material and related descriptors (such as metadata) that enable using an assetSystems: The related components that work together to facilitate asset lifecycleProcesses: The repeatable set of procedures and operations designed to realize each stage of an asset’s lifecycleKey Components of the DAM Capability Model:Benchmarking: The model allows organizations to evaluate their current DAM capabilities, providing a clear picture of where they stand.Structured Growth: It offers a structured approach to implementing changes, ensuring that DAM practices evolve in line with organizational goals.Future-Readiness: By following the model, organizations can prepare for future challenges and technological advancements in the DAM space.The Centrality of DAMOver the past 25 years, DAM has evolved from a niche solution to a central pillar of modern organizational operations. The exponentially growing need for digital content across myriad platforms and channels has led to the crucial need for a robust system to manage these assets.DAM systems serve as the central repository for all digital assets, ensuring that they are easily accessible, organized, and secure.But, according to David Lipsey, a DAM is a crucial component of the digital landscape and critical to an organization, not just as a central repository. He has long emphasized the importance of placing DAM at the heart of an organization’s digital strategy.“DAM does not sit in isolation.”DAM plays a larger role in the broader ecosystem of digital operations. By centralizing DAM, organizations can:ensure digital assets are leveraged to their fullest potential,drive innovation and support strategic goals,streamline workflows, reduce redundancy, andenhance collaboration across departments.This centralization not only improves efficiency but also ensures that brand consistency is maintained across all digital touchpoints, providing a cohesive and professional image to the audience.Watch the DAM Capability Model Workshop with David Lipsey here.Centralizing DAM Enables Continuous ImprovementThe centrality of DAM fosters a culture of continuous improvement, as it provides the foundation upon which advanced analytics, personalized marketing, and dynamic content strategies are built.In essence, DAM is not just a tool; it is the backbone of digital transformation, enabling organizations to thrive in an increasingly digital world.Lipsey advocates for an ongoing commitment to refining DAM practices, ensuring they meet evolving business needs and technological advancements.“Maturity in this field is never done. It’s always continual improvement in DAM.”Continuous improvement is a cornerstone of effective DAM practices. Organizations must focus on maintaining and enhancing their DAM capabilities to ensure long-term success.Strategies for Continuous Improvement:Persistent ROI: Focus on achieving a persistent return on investment by regularly evaluating and optimizing DAM practices.Documentation: Record opportunities and challenges to track progress and identify areas for enhancement. This practice helps maintain a record of what works and what needs adjustment.Regular Reviews: Periodically review and update DAM practices to ensure they align with organizational goals and industry trends. This approach keeps DAM practices relevant and effective.All of this brings us to one of Lipsey’s most valuable perspectives: working with and learning from the DAM community.The Value of Community in DAMBuilding and engaging with the DAM community is crucial for achieving sustained success. The collective knowledge and experience within the community provide invaluable resources for learning and improvement.By fostering a sense of community, organizations can tap into a wealth of expertise, staying ahead of industry trends and implementing best practices. The DAM community is not just a network of professionals; it is a dynamic ecosystem where ideas are exchanged, challenges are discussed, and solutions are crafted collaboratively.Community Benefits:Collaboration: Engaging with other DAM practitioners fosters collaboration, allowing for the exchange of ideas and best practices. Through forums, webinars, and conferences, DAM professionals can connect with peers, sharing insights on successful strategies and innovative solutions.This collaborative environment encourages creative problem-solving and helps organizations to implement more effective DAM practices. The shared goal of optimizing digital asset management brings together diverse perspectives, leading to the development of new methodologies and tools that benefit the entire community.Support: The community offers support and guidance, helping organizations navigate challenges and capitalize on opportunities. Whether dealing with technical issues, policy changes, or strategic decisions, members of the DAM community can rely on each other for advice and assistance.This support network is especially valuable for those new to DAM, providing mentorship and resources that accelerate learning and adoption. Experienced practitioners can offer practical solutions and reassurance, making the journey smoother and more manageable.Learning: Shared experiences and insights contribute to a richer understanding of DAM, driving innovation and efficiency. By learning from the successes and failures of others, organizations can avoid common pitfalls and adopt proven practices.The DAM community is a continuous learning environment where professionals can stay updated with the latest advancements and trends. Workshops, training sessions, and knowledge-sharing platforms provide opportunities for ongoing education, ensuring that DAM practitioners are always equipped with the latest skills and knowledge.Moreover, the community plays a pivotal role in shaping the future of DAM. Active participation in discussions and collaborative projects can influence the development of new standards, tools, and technologies. By contributing to the collective knowledge base, organizations not only benefit themselves but also help to advance the entire field of digital asset management.Practical Applications of the DAM Capability ModelThe DAM Capability Model is a powerful tool for driving adoption and growth within organizations. Here are some practical applications on how to use it to your advantage:Onboarding New Departments: Integrate DAM into new departments’ workflows, ensuring consistency and efficiency across the organization. This process involves educating teams on DAM best practices and demonstrating the value of centralized asset management.Mapping DAM Usage: Conduct a comprehensive mapping of current DAM usage to identify strengths and areas for improvement. This exercise helps uncover gaps and opportunities for expanding DAM capabilities.Engaging with Legal and Risk Management: Collaborate with legal and risk management teams to ensure compliance with regulations and prepare for disaster recovery scenarios. This integration helps safeguard digital assets and mitigate risks.Engaging with the DAM Capability ModelTo effectively leverage the DAM Capability Model, organizations should follow these steps:Cross-Functional Involvement: Involve teams from various departments in the assessment and implementation process. This holistic approach ensures that all perspectives are considered and that DAM practices are integrated seamlessly across the organization.Resource Utilization: Take advantage of resources such as the Center for Advanced Studies in Digital Asset Management and Henry Stewart conferences for further learning and community engagement. These resources offer valuable insights and opportunities for professional development.Steps to Get Started:Download the DAM Capability Model: Access the complimentary model to begin your journey.Conduct an Assessment: Evaluate your current DAM practices using the model as a benchmark.Develop an Action Plan: Create a roadmap for implementing necessary changes and improvements.Engage with the Community: Participate in DAM forums, webinars, and conferences to stay informed and connected.Watch the DAM Capability Model WebinarAre you interested in hearing from David Lipsey himself? To learn more about the DAM Capability Model you can watch our on-demand webinar right here.This session offers in-depth insights, practical examples and best practices for you to follow! Watch it here. Related Articles DAM Knowledge DAM vs CMS: How Are They Different? 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