Photoshop's Color Settings dialog box controls how Photoshop displays, tags, and color manages images. Properly setting up, Photoshop will ensure smoother and more predictable color output.
Color management of digital camera images in a standard file format such as JPEG or TIFF is easily performed in Photoshop by converting images from embedded or custom camera profiles to the Photoshop working-space profile.
Digital camera RAW files require more processing but include more original (unprocessed) data. Applications such as Adobe Camera RAW and Capture One Pro provide color-management conversion options.