What do you mean by digital asset custody solutions? It’s just me and my computer, right? This attitude may have been acceptable ten years ago, but not today when it comes to managing your digital assets (photos, music, videos, etc.). We now live in a digital-first world where everything is online, and even paper documents are increasingly being scanned into the cloud.
What is the Best Way to Manage Digital Assets?
Digital assets, while they do not have a physical form, are still important pieces of most business infrastructure. In fact, many business owners find that digital asset management is something that cannot be ignored or relegated to an employee with lower-level responsibility. This means that many businesses seek solutions like custodial services and backup plans to ensure their digital information has a safe place. While these measures are often overlooked or disregarded as unnecessary luxuries, they play an important role in keeping your information safe and accessible without compromising security or access rights.
What Should I Consider When Looking for a Digital Asset Custody Solution?
Before purchasing a digital asset custody solution, there are some factors that you should consider. These will help you make an informed decision on what is right for your business. If a provider doesn’t show that they have considered these factors, then chances are they haven’t put much thought into their product. And, like any purchase, if a provider hasn’t put much thought into their product or service, then it probably isn’t worth your time or money.
In addition to considering these factors, it can be helpful to talk with industry experts and others in your network who have experience using digital asset custody solutions. This will give you insight on things like What kind of platform do they use? Why did they choose that platform? How easy was it to implement? Did they run into any challenges along the way? Are they happy with their choice? Has it met all of their needs? Do they see room for improvement, and how would they fix those issues?
Another important thing to keep in mind when evaluating digital asset custody solutions is whether or not it integrates well with other systems used by your firm. The ability to seamlessly integrate into existing systems can help streamline operations and save valuable time. For example, organizations may need different types of permissions (admin rights) depending on what part of operations someone is working on.
Your Partner for Managing Digital Assets
Delegating is not a one-way street, especially in regards to managing digital assets. If you’re going to manage digital assets for another business, be sure you’re clear about how it’s being handled before entering into an agreement. That way, if one of you isn’t happy with how things are working out, there won’t be any ambiguity about what can be done about it. And make sure that whatever agreement you enter into has buyout provisions in case your relationship changes or ends. While you may currently be on friendly terms, a breakup could still end up in court, and lawyers hate ambiguity more than anything else.
Delivering The Best in Managing Your Digital Assets.
There are many ways to help your clients or company manage their digital assets. You can’t do it by yourself. The key is to be organized. Block out chunks of time for each client or company you’re helping manage, even if it’s just a day at a time so that you don’t get overwhelmed with emails and files and contact sheets from different people. If you miss something one day, move on and tackle it another day if possible. In other words, stay flexible about when you will get back to everyone!
What are some tips for managing digital assets in-house?
First, always communicate clearly how often you need information delivered (daily/weekly/monthly). Be sure also to include a deadline for delivering said information every time. Second, allow flexibility around your deadlines as much as possible – but only as long as no service delays result from these extended deadlines (like not being able to deliver an important announcement fast enough because someone couldn’t find an original document). Third, work with employees who are responsive and eager to help; after all, these employees will play a big role in ensuring things run smoothly.
Remembering that everyone has a different set of circumstances will help you decide how you want to manage your digital asset operations. While some may find it easiest to assign an outside team, others may find success through more personalized methods such as outsourcing assets one at a time. The choice is yours and whatever method works best for you is what should be used in your company.