How Customers Use Enterprise Cloud Marketplaces To Respond to New Business Conditions | 5 spglobal.com Another reason cited by digital leaders is that it is easier to make a choice when given fewer alternatives. Interestingly, digital leaders are more likely to see the advantage of having other users vet the apps first than the digitally delayed, with 18% of the leaders citing this reason compared to only 15% of the delayed. This finding suggests that digital leaders are more likely to value peer feedback and reviews in their decision-making process. Surprisingly, one reason chosen by more digitally delayed respondents than digital leaders has to do with cost. Just over a third (34%) of the digitally delayed believe that using app and consulting solution marketplaces is cheaper than a custom build, compared to only 26% of digital leaders. This finding highlights the importance of cost for organizations that are just starting their digital transformation journey. According to our survey, digital leaders have more reasons for using app and consulting solution marketplaces than the digitally delayed. Digital leaders prioritize security reviews, prefer fewer alternatives to streamline their decision-making process, and value peer feedback and reviews. Figure 3: Reasons for using app and consulting solution marketplaces Q. What are the reasons you use marketplaces in general? Base: All respondents. Source: S&P Global Market Intelligence and Salesforce custom survey, November 2022. Extending the application architecture is an essential aspect of software development, but it also challenges enterprises and vendors. For enterprises, one of the biggest problems in extending the tech stack is the need for industry-specific business processes. Meanwhile, vendors may find it costly to make enhancements that only a few customers will use, and they often lack industry-specific expertise. However, enterprise cloud marketplaces can provide industry-specific solutions. Examples of industry-specific add-ons across different enterprise cloud marketplaces in financial services include solutions for new account management, portfolio management, account data aggregation, document management, back-office support and client onboarding that are distinct to this industry. In healthcare, common examples include patient management, patient billing, medical practice operations, hospital operations, vendor and supplier contracts, and human resources data management. 54% 49% 43% 34% 33% 32% 17% 56% 68% 51% 44% 26% 31% 18% 49% 35% 41% 28% 34% 33% 15% Easier to research between choices Security checks and trust provided by marketplace Easier to make a choice when given fewer alternatives Recommended by implementation partner Cheaper than custom build Recommended by a peer Other users have vetted the apps first Total (n=400) Digitally driven (n=102) Digitally delayed (n=151)