Trust as a Service in the B2B Technology Market of ASEAN: Factors of Trust and Motivations for Choosing a New Vendor

In the B2B technology sector, buyers evaluate products not only based on technical quality but also primarily weigh the risks involved when deciding to purchase from a new vendor. The need for reliable signals and the ability to protect these decisions internally is increasingly becoming a key criterion. This article analyzes why Trust as a Service is emerging as a core driver of purchasing decisions in ASEAN markets, especially as international vendors expand into the region.

1. The Development of the ASEAN B2B Market and the Demand for Trust as a Service

The B2B technology market in ASEAN is undergoing significant transformation under the influence of a wave of investment in digital transformation, strong growth of small and medium enterprises, along with adjustments in national digitalization policies in each country.

Notably, the high rate of GenAI startups prioritizing the B2B market indicates that the regional tech ecosystem is focusing on serving businesses. According to a report by VnEconomy referencing GenAI Fund, 92% of GenAI startups in ASEAN are concentrating on the B2B market (2026). This reflects a strong inclination towards selling to businesses instead of consumer-driven models.

Moreover, the countries in the ASEAN region are all oriented towards promoting business connections through cross-border B2B platforms. This initiative not only meets the demand for market expansion but also emphasizes the importance of building trust in transactional relationships between parties. The Ministry of Industry and Trade of Vietnam acknowledges that ASEAN is focused on supporting business connections on digital platforms, thereby contributing to enhancing transaction security and making B2B a core development direction (2026).

In this context, the analytical framework of this chapter focuses on the key factors: the motivations for choosing vendors, the criteria for assessing risks when cooperating, the role of third-party verification, and practical signals to build trust between businesses.

The analysis focuses on the group of technology buyers in the markets of Vietnam, Singapore, Thailand, and Indonesia, where business culture characteristics, expectations, and barriers to verifying new vendors continue to present challenges for technology service providers when expanding operations in the region.

2. Trust as a Service and Changes in Buying Behavior of ASEAN Buyers

The trend of building trust in the B2B technology market in ASEAN is clearly changing as data and practical evidence become the focus of evaluation by enterprises when selecting solutions. According to Frost & Sullivan’s survey, in 2023, more than 63% of businesses in Southeast Asia identified “operational risks and practical implementation” as the top priority when selecting new solutions or vendors, and this criterion far exceeds the factors of price or technical features (Frost & Sullivan, 2023).

The motivation for trust does not stem from vendor statements but focuses on verifiable signals about reliability and suitability from practical implementations. PwC’s 2024 report adds perspective by pointing out that 72% of B2B buyers in the region prioritize data on industry reputation, independent expert verification, as well as evidence of deployment at similarly characterized organizations, instead of relying on self-promotional content (PwC, 2024).

In Vietnam, the pressure for transparency and accountability when purchasing technology solutions further drives the need for verification of decisions based on data. A survey by Vietdata in 2023 reflects that nearly 80% of new technology solution procurement decisions at businesses require “expert signature” or practical deployment evidence at peer companies. This demonstrates that the process of reviewing and evaluating vendors/solutions is standardized based on more objective norms and certifications.

Signals considered crucial in the decision-making process include expert-verification from the industry, especially individuals with practical experience in the local market; independent third-party evaluation reports on the solution’s suitability for practical operating context; and data or successful deployment case studies at organizations within the same industry or region.

The shift towards these objective bases reflects an increasingly clear requirement for transparency, risk minimization, and confirmation of suitability when integrating new technology in an environment with increased internal pressures and controls.

3. The Verification Channels Founding the Trust as a Service

Trust in the B2B technology market in the ASEAN region currently operates based on external verification channels rather than internal claims from providers. This is particularly evident for new technology applications like artificial intelligence, educational technology, green technology, medical technology, or advanced manufacturing solutions, where high complexity requires independent verification before proceeding with transactions.

The supplier verification process mainly occurs through three basic routes. The first is sector verification through independent expert assessments, where opinions and rankings from reputable individuals in the industry have a significant impact on buyers’ initial decisions. The second is execution capabilities verification, demonstrated through project evidence, implementation profiles, or real-world evidence of the solution’s availability and effectiveness for actual needs.

The third verification route relies on cross-evaluation mechanisms within same-industry buyer networks, including consulting opinions, reviews from partners with previous vendor experience, or sharing information in closed groups and specialized forums to further verify before making decisions.

In the Vietnam and Singapore markets, buyers are increasingly proactive in directly approaching local experts to gather filtered opinions on products and services before submitting them for Board of Directors’ approval. In terms of market dimensions, intermediary organizations and platforms are emerging to provide a bridge between buyers and industry experts, making it easier for stakeholders to access independent information for evaluating the suitability and feasibility of technology in the practical context of each business.

4. Drivers and Barriers with Trust as a Service at ASEAN

The growth drivers of Trust as a Service in ASEAN mainly stem from the rapidly developing digital economy outlook in the region along with the pressure for transparency in governance. The caution towards new service providers is not only based on deployment failure rates but also relates to differences in operating standards between international norms and regional practices.

Therefore, building trust in digital transactions becomes an increasingly clear requirement. According to the World Economic Forum (2024), the ASEAN Digital Economy Framework Agreement (DEFA) is being established to form a unified digital market for all 10 member economies, with ASEAN’s digital economy scale expected to reach 2,000 billion USD by 2030.

Internal transparency pressure is also increasingly high, reflected in the requirement to justify all procurement decisions at multiple management levels, thereby driving demand for trustworthy verification solutions. Additionally, the local expert network with practical experience is increasingly expanding, playing an intermediary verification role and contributing to increasing the reliability of new services. Another significant driver comes from state policies, as some countries encourage experimentation under local expert supervision, facilitating the practical testing of Trust as a Service models.

Alongside growth drivers, many barriers still exist for Trust as a Service in the ASEAN region. Notable is the shortage of independent sector-specific verification services, particularly in emerging markets like Vietnam or Cambodia. The connection between purchasing enterprises and independent verification experts is limited by the lack of centralized platforms and a moderate number of reputable intermediaries. Simultaneously, businesses also face the risk regarding fake verifications or non-transparent expert profiles, increasing reputational risk when using external services with inconsistent evaluation standards.

Another important barrier is the significant difference in verification standards between buyer groups in leading countries like Singapore, Malaysia, and emerging markets like Vietnam, Indonesia. In the context of ASEAN economies pushing forward infrastructure and digital standards to build trust, the region is also regarded as leading the way in the widespread adoption of real-time payments, e-wallets, and digital banking, but standardizing cross-market verification solutions remains a major challenge for the Trust as a Service model.

5. How Does Trust as a Service Operate in the ASEAN B2B Market?

In reality, Trust as a Service is not merely introducing partners or providing reference information. It is a model that provides systematic verification mechanisms to help buyers reduce risk when evaluating new vendors.

A Trust as a Service model typically includes multiple different verification layers:

Verification of expertise through independent industry experts.
Verification of implementation capabilities through pilot projects or practical evidence.
Local verification through a network of local experts, universities, and innovation support organizations.
Market verification through feedback from buyers or partners who have used the solution.

When these verification layers are connected into a unified process, buyers can significantly shorten the time to evaluate vendors, while increasing the ability to protect decisions in front of internal management levels. This is the core value that Trust as a Service brings to cross-border B2B technology transactions in ASEAN.

In the next phase of the ASEAN technology market, competitive advantage will not come solely from product quality or the level of technological innovation. The ability to build and provide systematic trust is becoming a separate business capability. As cross-border transactions become more complex, Trust as a Service is expected to evolve as a new infrastructure layer helping connect buyers, vendors, and independent verifiers, thereby reducing risk and promoting more effective collaboration across the entire B2B ecosystem of ASEAN.

At M-Expert, the Trust as a Service model is deployed through networks of Local Experts, Universities & Science Parks, along with local partners to help international businesses build trust faster when expanding operations in ASEAN.

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