Based on recent Forrester study, 78% of respondents, including ISVs and end customers, disclosed that the lack of a well-defined governance model was putting their companies at risk, according to Whit Crump (pictured), director of Americas business development, worldwide channels and customer programs, AWS Marketplace, at Amazon Web Services Inc.

The AWS Marketplace seeks to reduce enterprises’ risk profile and accelerate FinOps through cost optimization and a modern procurement practice.

“What we’re really talking about is helping customers adopt FinOps practices,” Crump said. “When using Marketplace either directly or through a partner, customers are able to really save money through a licensing flexibility. They’re also able to streamline their procurement. And then if there’s an at-risk spin situation, they’re able to manage that at-risk spend by combining Marketplace and AWS.”

Crump spoke with theCUBE industry analysts Lisa Martin and Dave Vellante at Ignite ’22, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how the AWS Marketplace is acting as a game-changer in terms of cost optimization, licensing flexibility, and heightened visibility.(* Disclosure below.)

AWS Marketplace slashes contract time by 90%

Through the Standard Contract for AWS Marketplace, or SCMP, Crump believes the issue of time-consuming contacts is significantly addressed and the challenge of shelfware is tackled.

“We actually built a feature called Standardized Contract, where we talked to a number of customers and ISVs, distilled a contract down into a, largely, set of terms that both sides already agreed to,” he said. “And it cuts that contract time down by 90%. If you can shave 90% off your time, now you can work on a lot of other things for the corporation.”

Since vendor management can be a hassle, the AWS Marketplace incorporated a new feature dubbed Vendor Insights to enhance enterprises’ discoverability journeys. As a result, companies can assess a vendor’s risk profile, according to Crump.

“With Vendor Insights, a customer can actually subscribe to this, and they’re able to actually see the risk profile of that vendor from the inside out, from the inside of their SaaS application — what does it look like on a real-time basis?” he stated. “And they can go back and look at that whenever they want. The feedback since the launch has been fantastic.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of Ignite ’22:

(* Disclosure: TheCUBE is a paid media partner for Ignite ’22. Neither Palo Alto Networks Inc., the sponsor for theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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