Criteria to choose the right digital experience platform company

It might be challenging to select a Digital Experience Platform (DXP) because there are so many factors to take into account. Over the past several years, the DXP industry has continued to develop quickly as top suppliers compete for the market by acquiring specialty providers and incorporating them into their current offerings. 

This post from SMARTOSC Fintech will outline the requirements for selecting the best digital experience platform company.

A range of features

The majority of the top DXPs are feature-rich and are probably equipped with components that will check some or even most of the boxes. There are a total of 23 distinct types of features included in the DXP guide’s introduction, so there are a lot of features banks can add to your martech stack.

Additionally, as platforms advance to allow headless publishing and even a composable DXP model with additional functionality made available as independent microservices on a SaaS basis, it means you may start to combine features from various sources.

Vendor suitability

A crucial non-functional need for every significant purchasing decision is the acceptability of the vendor. Your company may already have procedures in place to evaluate a supplier’s appropriateness as part of your procurement process, and your RFP procedure may include a corresponding checklist.

The vendor’s beliefs, objectives, and size should also be taken into account.; however, if it is smaller, you may choose a provider with a more personalized approach. Each supplier is profiled in the DXP guide, including information on their background, most recent acquisitions, size, and more.

How well it plays with others

Each vendor profile in the DXP market guide includes a substantial section titled “Plays well with others” that discusses how effectively a platform integrates with the other elements of your martech stack; otherwise, you risk incurring additional fees, having functionalities malfunction, or having to find a replacement for other tools.

Additionally, businesses should make sure that their DXP will expand their alternatives rather than constrain their ability to develop the martech stack in the future. The vendor profiles in the DXP market guide provide some general information on stack integration skills and then detail each DXP’s unique content and experience APIs. 

Overall partner ecosystem

Dealing with a partner agency who can assist you with implementation, support and maintenance, as well as other particular projects, is usually the case when working with the big DXP providers. 

Businesses should likely take the following factors into account when choosing a partner network:

• How robust does the network’s certification or verification component seem to be? 
• Are there any organizations I can work with in my home nation, neighborhood, and time zone?
• How extensive is the partner network? Are there enough agencies in my area so that I may choose the finest one while still receiving a fair price?
• Does the partner ecosystem imply that my DXP will support additional plug-ins and tools as well?

Cost and licensing options

Any solution’s price and associated licensing choices will be a key consideration. Due to a number of factors, including a lack of vendor transparency, the costs from implementation partners, hosting, support, and maintenance contracts, any infrastructure dependencies, training, the need to hire additional resources.

The effect of cloud computing and SaaS solutions has typically resulted in more flexible licensing choices with less lock-in for DXPs. This implies that costings may also be approached in a more precise manner.

A best digital experience platform company is a significant investment that has strategic value because it will support the primary go-to-market digital channels for several years. It’s important to get the customer experience perfect since it’s so important. Please don’t hesitate to contact the experts at SMARTOSC Fintech if you have any questions about fintech.