How to Write a Digital Asset Management Software RFP

Do You Actually Need an RFP?

If your organization has complex needs, multiple stakeholders, or operates in a regulated industry, an RFP is a smart move. It helps you clearly outline your requirements and ensures each provider understands what you're looking for.

This process helps avoid misunderstandings and ensures you get the right software for your team. Consider creating an RFP in these situations:

• Handling sensitive data or compliance issues
• Managing a large number of digital assets
• Coordinating input from multiple departments
• Working with a strict budget and timeline
• Needing customized DAM software solutions

When an RFP Might be Overkill

If your team is small, your needs are straightforward, or you’re making a low-risk decision, an RFP might just slow you down. Directly engaging with DAM vendors can be faster and more efficient in such cases. Here’s a list of software you might consider without an RFP:

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Top 10 DAM Software To Consider

Here’s my list of the top 10 DAM software options available, to help you get started in your search:

1. 1. Air — Best for agile, collaborative enterprise teams
2. 2. MediaValet — Best for AI-powered search & collaboration
3. 3. Adobe Experience Manager — Best for cloud-native content publishing
4. 4. Stockpress — Best for AI-powered team collaboration
5. 5. Cloudinary — Best for dynamic media transformations
6. 6. Bynder — Best for enterprise brand consistency
7. 7. Lingo — Best for unlimited brand kits
8. 8. Scaleflex — Best for being MACH-certified
9. 9. Acquia DAM (Widen) — Best for configuration and customization
10. 10. Pics.io — Best for mid-markets wanting unlimited storage

RFI vs RFP vs RFQ: What’s the Difference?

Understanding the differences between RFI, RFP, and RFQ can help you streamline your digital asset management system procurement process.

Simply put, an RFI gathers general information, an RFP seeks detailed proposals, and an RFQ requests specific pricing.

Not every purchase needs an RFP, and choosing the right document can save time and make the process smoother. Here’s how each document stacks up:

Document Type	Purpose	When to Use	What to Include	Level of Detail Required
Request for Information (RFI)	Gather basic information about vendors and solutions	When you need to learn about available options and capabilities	General questions about services and features	Low
Request for Proposal (RFP)	Solicit detailed proposals from providers	When you're ready to evaluate specific solutions for complex use cases	Detailed requirements and evaluation criteria	Medium to High
Request for Quotation (RFQ)	Obtain specific pricing for defined products/ services	When you have a clear understanding of your organization’s needs and want competitive pricing	Exact specifications and quantity needed	High

Common RFP Mistakes to Avoid

Rushing through an RFP or skipping key details can cause confusion, waste time, and lead to choosing a DAM system that doesn't fit your needs.

By steering clear of common pitfalls, you can help your team create a smoother selection process and make a more informed decision. Here are some mistakes to be mindful of:

Insufficient Background or Context

Without a clear background, vendors might not understand your needs. Explain your team’s goals, content management challenges, and any relevant metadata workflows to give them the right context.

This helps vendors tailor their proposals, ensuring you get solutions that align with your objectives.

Missing or Unclear Budget

If you don’t mention a budget, vendors may submit proposals that are too costly or not feasible. Clearly state your budget range upfront to set realistic expectations.

This ensures you only receive DAM software pricing proposals within your financial reach and aligned with your project management constraints.

Vague Requirements or Legal Jargon

Vague requirements or complex legal terms can confuse vendors, leading to unsuitable proposals. Use plain language and be specific about what you need—including expectations around access controls, permissions, or scalability.

This helps vendors know exactly what you’re looking for, making their proposals more relevant. Plus, it helps your team stay crystal clear on what you’re looking for, and what your must-haves are.

No Evaluation Criteria Shared

Without evaluation criteria, vendors won’t know how their proposals will be assessed. Share your criteria so vendors can focus on what matters most to you, whether that’s integration with existing APIs, strong customer support, or reliable deliverables. This helps you fairly compare proposals and select the best fit for your team.

No Standard Format for Vendor Responses

If you don’t specify a format, vendor responses can be inconsistent and hard to compare. Use a structured RFP template and outline a defined response format to make it easier for vendors to organize their proposals. This allows you to efficiently review and evaluate each submission.

Assemble Your Digital Asset Management Software RFP Team

Creating a strong RFP isn’t a solo job. The best RFPs reflect the input and needs of a cross-functional group, ensuring all perspectives are considered.

By involving the right people early, you reduce risk and avoid rework later on. Here’s who you need on your team:

Project Sponsor

The project sponsor provides direction and secures resources for the RFP process. They ensure that the project aligns with the organization's strategic goals, keep track of key milestones in the process, and can help resolve high-level issues.

Typically, this role is filled by a senior leader or department head who has a vested interest in the project’s success.

Functional Experts

Functional experts bring detailed knowledge about specific areas like IT, marketing, or asset management. They help define technical requirements and ensure the RFP addresses all necessary DAM software features and functionalities.

This group often includes IT managers, marketing leads, or digital asset managers. Whoever’s in the know of the behind-the-scenes requirements should be consulted in this group.

Procurement or RFP Writers

Procurement or RFP writers have expertise in crafting clear, comprehensive RFPs. They structure the DAM RFP template, and ensure it’s structured well and that all legal and procedural requirements are met.

This role is usually filled by procurement officers or experienced RFP specialists in your organization.

End Users and Stakeholders

End users and key stakeholders provide insights into daily digital asset management workflows and what they need from the software. Their input ensures the solution will actually meet the team's needs and improve efficiency.

This group includes team members who will use the DAM software daily, such as content creators, librarians, or digital asset coordinators. Usually, there’s some overlap with this group and the functional experts, but it will depend on the context and size of your business.

Define Must-Haves & Goals

Before sending out an RFP, your team needs to clearly define what the new DAM solution needs to do, and why. Aligning around pain points, goals, and non-negotiables helps vendors respond more accurately and makes it easier to evaluate proposals. Here’s what to consider:

• Identify pain points with the current system: What’s frustrating your team? Maybe it’s slow search functions or limited storage. Knowing this helps you find a vendor who can solve these issues.
• Outline required improvements and success outcomes: Define what success looks like. Is it faster retrieval times or better user collaboration? Make sure these improvements are clear in your RFP.
• Specify functional, technical, and compliance needs: Do you need integration with existing tools or specific compliance features? Detail these needs so vendors know what’s essential.
• Consider user roles, usage levels, and workflows: Who will use the software, and how often? Understanding user roles helps you find a solution that fits your team’s daily operations.
• Decide on deployment preferences: Do you prefer cloud-based or on-premise solutions? Knowing your deployment choice helps narrow down the list of suitable vendors.

Write the Digital Asset Management Software RFP

Now it’s time to put everything together in a clear, structured RFP document. A well-organized RFP template makes it easier for vendors to respond accurately and for your team to evaluate those responses effectively.

Here’s what to include:

1. Executive Summary

The executive summary provides a quick overview of your project’s goals and needs. It should outline what you’re looking for in a digital asset management solution and why it’s important to your organization.

This section sets the stage for vendors, helping them understand the big picture. Keep it concise to ensure clarity and focus.

2. Scope of Work

Define the scope of work by detailing what you expect the vendor to deliver. Include specifics like the types of digital assets involved and integration with existing systems.

This helps vendors understand the extent of the project and tailor their proposals to meet your needs. Clearly outlining the scope reduces the risk of misunderstandings later.

3. Technical Requirements

List the technical requirements that your new software must meet. This might include disclaimers around compatibility with your current systems, preferred technologies, or specific features.

Being precise here ensures that vendors know exactly what’s needed. It helps filter out those who can’t meet your technical demands.

4. Vendor Qualifications

Specify the qualifications and experience you expect from potential vendors. This could include past projects, industry experience, support options, or certifications.

By setting clear expectations, you ensure that only qualified vendors respond. This makes your evaluation process more efficient and focused on the best fits.

5. Security and Compliance Needs

Detail your security and compliance needs to ensure the vendor can meet industry standards. Include any specific regulations or certifications required, such as GDPR or ISO standards.

This section is vital for protecting sensitive data and maintaining compliance, so be thorough in your disclaimers and requirements.

6. Implementation and Training Expectations

Explain your expectations for how the DAM software will be implemented and how your team will be trained. Include timelines, support needs, and any specific training formats you require.

Clear expectations here help vendors plan their delivery and support strategies, ensuring a smoother transition for your team.

7. Pricing and Licensing

Outline how you want pricing and licensing information presented. Specify if you need breakdowns by feature, user, or other criteria.

This transparency helps you compare costs accurately and ensures there are no hidden fees. It also assists in budgeting and financial planning for the project.

8. Contract Terms

Include any contract terms or conditions that are non-negotiable for your organization. This might cover payment terms, warranties, or service level agreements.

By stating these upfront, you avoid surprises during negotiations and ensure vendors are aware of your expectations from the start.

9. Submission Instructions

Provide clear instructions on how vendors should submit their proposals, including deadlines and formats. Specify any documents or forms that need to be included.

This clarity helps vendors comply with your requirements and ensures a smooth submission process. It also makes it easier for your team to review and compare proposals.

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Define Your Evaluation Criteria

Clearly defined evaluation criteria help keep the decision process objective, transparent, and aligned with business goals. Establishing these criteria before reviewing proposals means you’ll avoid bias and ensure fair assessment. Here's how to define your evaluation criteria:

What Matters Most?

Choose 3-5 weighted categories that align with your team’s goals and priorities. This focus helps you stay on track and make decisions that truly meet your needs. Common RFP scoring categories for digital asset management software include:

• Functionality (asset organization, storage, and shareability)
• Integration capabilities (does it connect with your other core tech stack?)
• Support and training (will your team need 24-hour support, or will a help center chatbot be enough?)
• User experience (how easy is it to share files and navigate the platform?) 
• Cost (what’s your budget, and how do you see it scaling with your needs?)

Use a Scoring Matrix

A scoring matrix helps you weigh each category according to its importance to your team. For instance, if functionality is a priority, it might have a higher weight than cost.

You can score each criterion on a 1-5 or 1-10 scale. Adjust the weightings to reflect what matters most to your organization, ensuring the final decision aligns with your priorities.

Clarify Your Scoring Process

Define who will score the proposals and how they’ll do it. Use a standardized rubric to ensure consistency and fairness. Schedule a meeting with all reviewers before scoring begins to align on expectations and criteria.

Issue the Digital Asset Management Software RFP

Issuing the RFP isn’t just about sending it out—it’s about giving vendors the right access, timelines, and instructions so they can respond effectively. A smooth distribution process sets the tone for the quality of proposals you’ll get back. Here’s how to get started:

Choose the Right Distribution Method

Consider options like email, RFP software platforms, or procurement portals for distributing your RFP. Each method has its benefits, but using a centralized system to track responses is key.

This ensures nothing slips through the cracks and you can manage communications efficiently. You might also include a vendor contact list or use a role-based inbox to keep everything organized.

Set Clear Timeline Expectations

Outline a standard RFP timeline and share it within the RFP:

• RFP release date
• Vendor Q&A window
• Final submission deadline
• Evaluation and selection period

By setting these expectations upfront, you give vendors a clear roadmap to follow, which helps them plan and optimize their response to align with your team’s expectations.

Define Submission Requirements

Make sure vendors know exactly how to submit their proposals. Specify accepted file formats like PDF, Word, or Excel templates, and indicate the preferred delivery method, such as an upload portal or a reply-to inbox.

Clearly state if specific templates or forms are required and whether late submissions will be accepted. This clarity helps avoid confusion and keeps everything running smoothly.

Evaluate & Shortlist Vendor Responses

This is where your structured approach pays off, and when your team turns vendor responses into a shortlist with confidence. Consistency, objectivity, and collaboration across everyone involved in the evaluation process are key. Here’s how to evaluate and shortlist vendors:

• Organize and format proposals: Start by organizing proposals in a consistent format for easy comparison. This makes it simpler to spot differences and similarities in what vendors offer.
• Use a scoring matrix: Apply the scoring matrix you’ve developed to each proposal. This helps ensure each vendor is judged by the same standards, keeping things fair and objective.
• Schedule demos and interviews: Arrange or watch prerecorded DAM software demos with top vendors. Seeing the software in action and engaging directly with the vendors can reveal insights that written proposals don’t.
• Check references: Contact references provided by vendors to verify their claims. Ask specific questions about their experience to get a real-world perspective on performance and support.
• Clarify anything unclear in proposals: Don’t hesitate to reach out to vendors if something in their proposal isn’t clear. Clear communication ensures you fully understand what each vendor is offering.

Select & Notify Vendors

Once your team has chosen a vendor, the final steps are just as important as the evaluation process. Clear, professional communication with all vendors—both selected and unselected—is crucial, and ensuring internal alignment is key before moving into contract execution. Here’s what to do next:

Notify Selected and Unselected Vendors

Timely, respectful communication with vendors builds strong relationships, even with those you didn’t choose. Send a short thank-you note or provide high-level feedback where appropriate. This courtesy can leave a positive impression and keep doors open for future opportunities.

Prepare for Final Negotiations

Common negotiation items include pricing, service level agreements (SLAs), and contract terms. Define your team’s walk-away points ahead of time to know your limits. Use a checklist or agenda during discussions to stay focused and ensure you cover all necessary points efficiently.

Ensure Internal Alignment Before Signing

Before signing, make sure all necessary internal approvals are in place. This usually involves leadership or finance signoff, a legal or procurement review, and summarizing key decision drivers. Providing a clear summary helps internal reviewers move quickly and keeps the process on track.

What’s Next:

If you're in the process of researching digital asset management RFP, connect with a SoftwareSelect advisor for free recommendations.

You fill out a form and have a quick chat where they get into the specifics of your needs. Then you'll get a shortlist of software to review. They'll even support you through the entire buying process, including price negotiations.