Low-code platforms are quickly democratizing digital innovation from startups to governments. Here are four (4) reasons why your organization should consider a low code platform investment.
1. The cost of not investing could be the difference between thriving and bankruptcy.
According to Credit Suisse, the average age of an S&P 500 company is under 20 years, down from 60 years in the 1950s. The disruptive force of technology is killing off older companies earlier and at a much faster rate than decades ago, squeezing employees, investors and other stakeholders. Organization that embrace innovation and technology are out-innovating the competition. Read more about Digital Risks and Opportunities.
2. Business moves faster than IT’s ability to keep up
Delivery Gap between Business Demand & IT Capacity. Image courtesy of Mendix.
The market demand for software is growing faster than IT’s ability to deliver. Low code platforms help bridge this productivity gap by using visual models to communicate business logic between developers and subject matter experts (i.e. a pictures worth a thousand words). By using models, functional and technical experts can quickly identify if the virtual model addresses the real world need. Here is an example of a simple loop written java vs. Mendix (a low code platform).
// Java program to illustrate for loop.
class forLoopDemo
{
public static void main(String args[])
{
// for loop begins when x=2
// and runs till x <=4
for (int x = 2; x <= 4; x++)
System.out.println("Value of x:" + x);
}
}
A Visual ForLoop built in Mendix, a low-code platform.
By displaying the logic visually, business and IT are able to communicate more easily which results in significant productivity gains which ultimately lead to results.
3. Low-code Platforms let you do more with less
According to Quantitative Software Management (QSM), an independent authority, Low-code applications significantly outperform a representative set of 12,000 industry benchmark of projects. The productivity advantage is the result of the following factors:
- Project teams are 60% smaller
- Project duration is 50% shorter
- Development effort is reduced by 70%
4. Cloud computing has dropped the price of software ~70% from 1997 - 2017.
This cost decrease has leveled the playing the field, allowing small, agile organizations, to take market share from larger incumbents. Put differently, the large investments previously required to build digital products and services has been drastically reduced over the last two decades. Read more about the price decrease in software over the last twenty years.
United States Bureau of Labor Statistics - 67% Drop in Software
Conclusion
Low-code platforms are quickly democratizing digital innovation from startups to governments. The true cost of failing to adopt cloud technologies could be bankruptcy if the competition innovates your business into irrelevance. Low code platforms let your organization do more with less, kickstart innovation, and close the gap between business need and IT’s ability to deliver. Organization that embrace innovation and technology are out-innovating the competition. Read more about Digital Risks and Opportunities.
Are you ready to begin your digital transformation?
