Industry analysts predict that the adoption of low code would be higher, where over 60% of applications will be developed on low-code platforms by 2024. And by 2025, the global low-code development platform market will surpass $45 billion.
Low-code is being used across all industries – fintech, healthcare, manufacturing, for creating a wide array of applications. Web apps, mobile apps, partner-, customer-, and employee-facing portals, were some of the commonly developed applications, according to a survey participated by over 3000 IT professionals.
What is low-code development?
Low code is a visual approach to build software applications rapidly. With a low-code platform, you don’t have to write several lines of code, instead you just use the prebuilt templates, drag-and-drop components, and develop applications easily. Due to its simplicity, it enables rapid development, deployment and maintenance of business applications.
With low code bringing in a host of benefits, is it a requisite to your business? Or is it just a value-addition? Here, we bring to you the top five warning signs to decide better.
- Your organization faces skill gap
- You want to keep pace with digital transformation
- Your customers are looking for great experiences
- Your employees are always busy tracking data
- Your app development process starts hampering revenue
Your organization faces skill gap
IT skill gap is one of the most pressing issues across the globe. An IDC survey concluded that over 52% of IT leaders say that the shortage of skilled personnel is their toughest challenge, and that it could cost nearly $775B for organizations annually.
Whether you are just starting up on a shoestring budget, or you want a larger number of experienced human resources to meet an increased demand of tech innovation, an ideal solution would be a low-code platform. Low-code solutions empower citizen developers to deliver applications on a secured, user-friendly interface with less effort.
You want to keep pace with digital transformation
The pandemic has pushed the buttons of organizations to reset their IT initiatives. A report by AppDyanmics states that around 66% of IT professionals feel the pandemic has exposed their weaknesses in their digital strategy. Many are still stuck with antiquated systems, reluctant to take the big leap to digital transformation. Let’s accept that migration is messy, complex. At the same time, let’s also accept that legacy systems are notoriously vulnerable to security threats, inflexible to modernize, and can hold back innovation.
If yours is a forward-thinking company, in a digital era, it is important that IT environments are updated to drive innovation and continuous improvement, and above all stay on top of the game.
Migrating to a low-code platform, or designing applications with this modern-day solution is not very complicated. It allows you to choose the pathway to modernization that works best for your needs. Whether it is replacing or fully rebuilding the architecture, it can make the processes streamlined, and bring in benefits like:
- Meeting customers’ evolving needs proactively
- Increased agility to sustain in the changing business conditions
- Decreased costs
- Higher productivity
Related reading: Eight reasons why your enterprise needs low code
Your customers are looking for great experiences
We are in a world, largely driven by technological advancements around us. Customers love to get instant responses in a click of a button, just like how they order a cab, a pizza or even schedule an appointment with a healthcare provider. As rightly put in by industry analysts that “customer experience is the new marketing battlefield”. Are your customers struggling with long waiting times, inadequate representatives, low first-time resolution, etc.? Then, it’s time you switch to a low-code platform.
You can embed real-time communication capabilities like chatbox, voice interface into the workflow for a more personalized customer experience. In fact, 90% of IT leaders feel that the flexibility and the speed of a low-code environment improve customer experience better than the traditional development counterparts.
For example, with low-code you can build customer portals that enable your customers to access information whenever they need, thus reducing the dependency on the agents.
Your employees are busy tracking data
Gathering, analyzing, storing, cleaning data consumes a lot of time. Are your employees’ precious hours wasted on data management that never seem like ending? Low-code is your solution. Low-code enables seamless integration of existing data, and automation of simple to complex tasks across data silos. Plus, designing a low-code solution using visual, graphical user interface costs lower and offers higher flexibility and scalability.
Your app development is too slow
When you realize the app development moves at snail’s pace, it’s time for a technology facelift. Cost optimization always remains one of the key things to consider. In addition to reducing typical app development cycles dramatically, low-code also brings down costs involved in hiring talents and greater engineering efforts.
The following statistics will help you understand why low code is an option worth considering to improve ROI.
Low code automation platforms can reduce development time by 90% (Source: Redhat)
The average company avoided hiring two IT developers using low code tools. This reaped about $4.4 million in increased business value over three years from the applications designed (Forrester)
71% of organizations that leverage citizen development have sped up application development by at least 50% (Source: Quickbase)
29% of companies have seen a 2X or more jump in delivery time (Source: Quickbase)
90% of developers who use a low-code platform have less than five app requests per month in the backlog. (Source: Quickbase)
Low code development is 10 to 20 times faster than traditional approaches (Source: Appian)
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