Five Reasons Why ISVs Should Adopt Low-Code

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Low-code is a visual application development approach that can significantly speed up the entire development process. Low-code allows users to integrate every step of the application development cycle to speed up the deployment of a wide range of solutions. Furthermore, low-code can empower your organization to develop digital systems that fit the needs of your business by breaking down traditional business and IT barriers.

An ISV (Independent Software Vendor) develops and sells software for one or more operating systems. ISVs typically work with hardware, software, or cloud hosting providers to create and deploy solutions.

Today, low-code is more than just a tool that aids development; it is a key strategy that principally shapes the way that enterprise applications are delivered. A recent study conducted by Gartner reveals that 75% of large enterprises will be using at least 4 low-code tools for IT and citizen development initiatives by the year 2024.  Low-code software platforms can enable ISVs to accelerate their digital transformation strategy at unprecedented speeds.

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Why Is Open-Source The Right Choice For Software Vendors?

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Open-source software is defined as any computer software that enables individual end-users to freely utilize, modify and redistribute its source code. As open-source technology continues to evolve rapidly, many businesses are beginning to adopt the use of open-source platforms in day-to-day business functions. According to Red Hat, 75% of IT leaders stated that open-source software is extremely important.

Open-source software can help software vendors create high-quality, secure software by providing them with a secure and tested code base. Many people collaborate on open-source projects, and that makes the discovery of bugs and errors more efficient. Hence, in most cases, open-source is more secure and reliable than closed-source code.

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Why Support Is Essential For ISVs

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An Independent Software Vendor or ISV is any organization or software publisher that creates, develops, and distributes enterprise software to businesses or individual end-users through licensing agreements. An ISV company retains all intellectual property rights and ownership over its software.

Cloud-based management software is more in demand than ever before. Recent studies have shown that 50% of enterprises spend more than $1.2 million on cloud-based services annually. Specialized accounting and data migration niche software is also a major market need that ISVs continually address.

Constantly meeting these needs of the market and its trends requires full support. ISVs are expected to readily develop and distribute relevant software, and many ISV companies may not be able to churn out new products so swiftly without support from their app-building platform.

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Are Independent Software Vendors Using Cloud Services?

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An Independent Software Vendor is defined as any enterprise or software publisher that focuses on creating, developing, and distributing software through commercial licensing agreements with individual end-users or organizations. Recent studies indicate that the ISV industry is expected to reach a market value of $408.15 million by 2026, with a CAGR of 10.5%.

Many ISV companies leverage the power of cloud services for various reasons. As digital systems and cloud technology continue to evolve, the majority of ISV companies are currently shifting towards cloud-based solutions to foster and facilitate digital transformation.

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What Challenges Do Independent Software Vendors Face?

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An Independent Software Vendor (ISV) is defined as any software publisher or organization specializing in the generation, development, and distribution of enterprise software by licensing agreements with individual end-users and businesses. However, the ISV company retains all ownership and intellectual property rights over its software. The ISV industry is expected to reach a market valuation of $408.15 million by 2026.

However, although the software and ISV industry are currently extremely lucrative, as digital technology develops exponentially and market trends evolve, many ISVs may face challenges such as issues with cloud migration, testing processes during the application development cycle, mobile optimization, and third-party feature integration.

Meeting the demand for new product deliveries is another issue that vendors face provided that software development takes a lot of time. Even after the delivery, the solutions require maintenance and error handling which is another major challenge that ISVs face.

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What Are The Five Bits of Advice To Start an ISV Startup?

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An ISV company is defined as an organization or software publisher that specializes in the creation, development, and distribution of commercial software by licensing agreements with various enterprises and individual users. However, the ISV company retains all ownership and intellectual property rights to its licensed software.

The ISV industry is expected to reach a market value of approximately $408.15 million by 2026. Therefore, the market for ISV startups is highly lucrative for software publishers and organizations. However, it is extremely important to ensure that you understand how to start an ISV startup before venturing into the industry.

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What Is The Difference Between ISV and COTS?

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As digital technology continues to evolve, cloud-based technology and computing processes are being increasingly integrated into modern day-to-day business processes. Studies have shown that 50% of enterprises spend more than $1.2 million on cloud-based services annually.

An Independent Software Vendor (ISV) is defined as a software publisher that generates, develops, and distributes commercial software through licensing agreements. These commercial agreements may either be one-time licenses or time-interval-based subscription plans. ISV companies retain all ownership and intellectual property rights.

Commercial-Off-The-Shelf (COTS) software is defined as commercially available packages software that is ready-made and instantly available for the use of the general public and other interested parties. COTS software is commercially produced and distributed to users and does not require any modification.

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What Are The Most Adaptive Tools For ISV

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An ISV company is defined as any software developer or organization that creates, refines, and sells software that runs on a minimum of one hardware or operating system to other organizations or individuals. ISV companies distribute software to end-users using commercial agreements while still retaining all intellectual property and ownership rights.

ISV companies create and distribute software, integrate software from other digital solution providers, distribute software through cloud-based distribution channels and satisfy specific niche industry software requirements. The global ISV industry is expected to reach a market value of approximately $408.15 million by 2026, with a Compound Annual Growth Rate (CAGR) of 10.5%.

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What Are Innovative Solutions For ISV In 2022?

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As digital technology continues to evolve, the integration of innovative solutions into modern business functions is increasing exponentially. Furthermore, as newer technology continues to be made available, modern organizations are expected to keep track of and incorporate contemporary technology and trends into various business processes.

According to Gartner, 2022 projects the highest growth rate for IT budgets over the past decade, with a 3.6% increase over the previous year. This indicates a heightened reliance, dependence, and adoption of innovative technological solutions over the next year. Therefore, modern enterprises must be aware of the latest trends for innovative ISV solutions to facilitate long-term growth.

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Low-code versus traditional development: A primer for independent software vendors

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Independent software vendors take pride in having talented developers, but that doesn’t mean they can’t benefit from the low-code revolution.

Independent software vendors (ISVs) face constantly increasing pressure to deliver innovative software solutions to their customers in as little time as possible while maintaining the level of quality they expect.

Unfortunately, this also means that even though their solutions may be functionally complete, the speed at which they need to be rolled out usually means making some sacrifices. Often, issues with the underlying code present themselves soon after delivery, necessitating rework. Thus, technical debt remains a serious and growing problem for ISVs faced with ever-growing demand.

Low-code development platforms (LCDPs) offer an increasingly viable alternative to traditional software development thanks to their ease of use and faster delivery times. That said, software vendors often still view low-code with a degree of skepticism, assuming it to be only suitable for small projects and citizen developers.

In reality, nothing could be further from the truth. Low-code is already transforming the world of software development and delivery, with the low-code market size increasing by 22.6% in 2021 alone. Indeed, low-code is fast becoming the new standard in software development to the point it is outpacing traditional software development in many sectors. Already, 84% of enterprises are using low-code to reduce the strain on their IT departments and involve the wider business in the development of mission-critical digital assets.

ISVs need to keep up if they are to remain relevant in the years to come, and the adoption of low-code will undoubtedly prove essential in that endeavor. However, that is not to suggest that traditional software development will become obsolete – after all, low-code is not quite the same as no code. Rather, it presents a compromise between the two, whereby applications can be developed quickly and, in the rare cases where an LCDP cannot accommodate certain advanced use cases, skilled developers can still rely on coding.

In this blog, we will explore the differences, as well as the commonalities, of both low-code and traditional software development and how they concern ISVs wanting to increase their speed to market while continuing to uphold rigid quality control standards.

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