Using a Low Code Development Platform (LCDP) like Mendix for Business Transformation
Blog: Indium Software - Big Data
Low Code Development has been here for at least a decade. But the pandemic has accelerated the growth of the low code ecosystem, thanks to the increasing need for automation and digital transformation. And, low code development platforms offered an easier, quicker, and more efficient alternative compared to traditional development, in certain contexts. Gartner expects the market to grow at 22.6% from 2020 to touch $13.8 billion in 2021.
Within the overall low-code ecosystem, the market for low-code application platforms (LCAPs) is expected to see a growth of 30% from 2020 to reach $5.8 billion in 2021.
Though initially looked down upon as not being capable of creating usable applications and considered more as a short-term fix used by business users, low code today has become a platform of choice even for developers and the IT teams. In fact, Gartner predicts that by 2024, at least four low-code development tools will be used for IT application development.
With Covid-19 compelling employees to work from home, businesses have had to transform their manual, office-based processes to digital ones using low code. In fact, businesses have also had to improve ways to interact with their customers and low code has enabled them to come up with solutions to make this transition quickly.
Advantages of Low Code
Some of the key reasons for low code’s popularity in driving business transformation include:
- Drag-and-Drop Application Development – The use of a visual modeling application facilitates a visual representation of processes. As a result, developers can drag-and-drop interfaces and do not need to write too much code. This way, ideas can be converted into apps quickly. Businesses do not have to struggle to hire talent, which is hard to come by given the demand due to widespread digitization, and improve productivity.
- Aligning with business goals – Low code facilitates greater collaboration between the developer and the user, thereby improving the outcome.
- Simplifies Complex Processes: A low code platform like Mendix comes with many features such as storyboarding, component reusability etc. which simplifies the development process. Iteration of apps and releases is made possible because of the agile environment in low-code development that also permits cross-platform functionality without much extra effort
- Update Quickly: Implementation of declarative tools using visual models and business rules makes it simpler and faster to make changes or add features.
- Secure and Scalable: A low code platform such as Mendix is enterprise-grade, secure, and scalable, thereby making it ideal to keep pace with your business transformation needs.
Low code can help to quickly automate paper-based processes for greater efficiency, reduce the time-to-market and improve governance.
Low code has a wide application potential. We list a few as a quick reckoner to highlight the business transformation that it enables efficiently and effectively. These include:
- A waste management company built an eCommerce portal using the Mendix Platform to empower customers with self-service features for performing routine tasks such as finding services, getting a quote, and paying bills. This enabled the company to provide a uniform customer experience cost-effectively as well as generate new revenue streams. The portal was developed in a fraction of the time taken by traditional development and with collaboration between the developers and IT using consumer-grade UI. A key advantage was that the interface was developed once but can be reused several times for different devices and purposes.
- A bank catering to entrepreneurs was trying to speed up its lending process and failed to achieve much progress with the traditional development method for its lending system. By adopting the Mendix low code platform, they were able to initiate rapid development and deployment cycles. In the next eight months, they released a fully integrated core lending system that meshed new functionalities with its existing applications, achieving a business transformation.
- A provider of grow light systems built IoT-enabled apps using Mendix low-code to generate actionable insights and transform themselves from an installer of grow lights to a total light solution provider.
- A healthcare solution provider developed a software product to automate the billing processes for the purchase of medical devices in 9 months as against the estimated 12 months in the traditional method. The software provides transparency to the billing process, which was missing earlier, and delivers multi-million dollar savings for its clients. It also enables ease of audit and compliance.
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