Prioritizing DAM Security from the Start: Addressing this Common Oversight in Vendor Selection

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, and
• Integrating DAM security into the buying process.

The State of Data Security in the Digital Landscape

Our 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 employees
• MOVEit 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 people
• Dropbox 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 accounts

These 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 Process

Despite 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 DAM

• Focus 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 Security

• Data 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 Process

Ensuring 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.

1. 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.
2. 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.
3. 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.
4. 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 MediaValet

Security 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.