Modifying color is quicker and more precise when working with vector graphics. Changing a raster image (JPEG or PNG) to a vector graphic is usually the best option. Changing a raster image can be done with trace tools found in both CorelDRAW and Adobe Illustrator. Logo images that have separate or distinct elements work well with trace tools. It also helps to start with a high-resolution image. If the logo image has a gradient, faded areas, or extremely fine details, this can be more difficult for these trace tools. Sometimes redrawing the logo into a vector object is the best option to modify the color.
—9th Street Designs