The Massive Marketplace Opportunity
With major players like AWS, Google Cloud, and Azure marketplaces, companies can showcase their software offerings for potential buyers to discover, purchase, and deploy. These marketplaces offer remarkable business opportunities in the realm of cloud computing. Canalys predicts cloud marketplace is expected to be at $45B by 2025, indicating a CAGR of 84%.
Scaling enterprises across the globe have embarked on the journey into the marketplace. This strategic move has enabled them to access the vast pool of the $600 billion or more in spending that circulates among the major public cloud service providers as of 2023.
Furthermore, beyond gaining access to this substantial cloud spending pool, B2B marketplaces also unlock increased buyer budgets, expedited deal cycles, and valuable co-selling prospects with cloud providers. Notably, 73% of B2B buyers express a preference for the convenience of purchasing through e-commerce, web-based direct sales, or marketplace platforms. 27% of buyers would spend even more than $500,000 (Source: McKinsey & Company).
“All roads lead to the marketplace.” - Jake Swenson, Vice President - Commercial Marketplace, Microsoft Corp.
The Marketplace Impact: Beyond Transactions to Transformation
Picture this: for Partner Business and Sales Managers, the marketplace is not just a virtual space—it's a lifeline. It's the heartbeat of their daily operations, influencing decisions, shaping strategies, and propelling success. The ripple effect of marketplace dynamics is felt in every aspect of their professional lives.
Operational Challenges: A Balancing Act
Partner Sales Managers and Partner Operations Managers grapple with the intricacies of managing marketplace transactions. The operational challenges range from listing complexities to resource and technological costs associated with transaction management on Cloud Marketplaces. The need for a streamlined and automated solution becomes glaringly evident.
One significant hurdle organizations face is the absence of seamless automation and integration with their existing sales processes. Without a unified approach, achieving speed, accuracy, and success in marketplace transactions remains an uphill battle.
Enter WorkSpan Hyperscaler Edition, a leading solution designed to revolutionize the way organizations manage and scale co-sell and offers on the Cloud Marketplaces. WorkSpan addresses the operational challenges and inefficiencies that hinder co-sell and marketplace success. As organizations strive to capitalize on the massive cloud marketplace opportunity, WorkSpan paves the way for streamlined operations, compliance assurance, and accelerated success in the dynamic cloud ecosystem through its industry-leading capabilities.
Co-Sell Management
CRM-Integrated Co-Sell and Marketplace Transactions: WorkSpan seamlessly integrates your Salesforce CRM with Cloud partner portals and Cloud marketplace portals, allowing organizations to streamline sales transactions directly from inside their CRM platform. This integration ensures efficient cloud service management with speed and precision.
Automated Partner Processes: WorkSpan's Hyperscaler Edition streamlines various co-selling processes, automating tasks such as sending and receiving co-sell referrals. It efficiently handles the creation and updates of opportunities owned by any partner, providing a seamless experience in partner collaborations.
Marketplace Offer Management
CRM-Centric Offers: WorkSpan allows users to create and add marketplace offers directly within their CRM, integrating the cloud marketplaces’ offer creation process with their existing workflow. Users can attach these offers to co-sell opportunities, facilitating a centralized view. The platform also enables sending reminders to internal teams and customers, ensuring smooth communication and progression of next steps in the sales journey.
Performance Insights
Streamlined Performance Management: WorkSpan simplifies performance management on Cloud Marketplace by offering a user-friendly interface for goal tracking and providing comprehensive views for data-driven decisions. Organizations can set clear objectives, monitor progress, and gain valuable insights. This streamlined oversight facilitates improved performance and strategic decision-making, allowing businesses to adapt and thrive in the ever-evolving cloud commerce landscape.
Compliance Management
Continuous Compliance Assurance: WorkSpan's fully managed application assures continuous compliance with the cloud partner's requirements. The solution overlays your CRM/ Salesforce processes seamlessly onto Cloud Marketplace, ensuring compliance in opportunity, customer quote, and order management. This means that Partner Business and Sales Managers can operate with confidence, knowing that their operations align with strict standards and regulations set by cloud partners. This assurance serves as a solid foundation for successful co-selling ventures, eliminating any concerns related to adherence.
WorkSpan Hyperscaler Edition is not just a tool; it's a strategic companion in the journey of co-selling mastery. It's the key that unlocks the door to streamlined operations, compliance assurance, actionable insights, and accelerated success. For Partner Business and Sales Managers navigating the dynamic landscape of hyperscaler partnerships, WorkSpan is the difference between operational adequacy and mastery. It's not just a solution; it's the bridge to co-selling excellence in the expansive realm of cloud commerce.
Nitin Mathur is a marketing maverick with an extensive experience in the tech, telecom, and consumer electronics industry. As Director of Product Marketing at WorkSpan, Nitin is on a mission to revolutionize the way businesses manage their multi-partner ecosystems with WorkSpan's cutting-edge product capabilities. Prior to his stint at WorkSpan, Nitin worked at various marketing positions at some of the biggest names in the industry, including IBM, Motorola, and Philips. He is also a tech enthusiast passionate about harnessing technology's power to solve real-world problems.
