What Automation Capabilities Should You Look For In A Low-Code Platform?

A low-code automation platform is defined as a solution that enables citizen developers with little to no traditional coding experience to easily and effectively automate various manual business processes, application development tasks and workflows. Low-code automation platforms can enable users to build complex and powerful digital architecture using visual development strategies.

Recent studies indicate that 83% of IT decision-makers believe that workflow automation is essential for organizational digital transformation. However, many users may find traditional automation platforms to be extremely complex and difficult to implement practically. However, as low-code technology continues to evolve, modern businesses can leverage the power of low-code automation capabilities to make enterprise application development and overall business operations much more efficient, accurate and profitable than ever before.

Low-code automation can help your business significantly decrease costs associated with long-term digital transformation, increase organizational productivity, improve customer experiences and satisfaction levels, optimize risk management strategies and much more. Therefore, your organization must choose a low-code platform that is equipped with the necessary automation capabilities to optimize and streamline business processes.

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How Financial Services Are Using Low-Code to Automate Their Businesses

As digital technology continues to evolve, market trends and consumer preferences are increasingly shifting towards online business processes. Furthermore, many financial institutions may find it extremely difficult to keep track of and manage day-to-day organizational tasks using traditional application development and manual procedures.

Low-code development tools can help financial services integrate and implement automation into processes that would have otherwise had or have been performed manually by an employee. Low-code automation is defined as the use of visual development platforms that enable citizen developers with little to no traditional knowledge of code to easily automate various manual business processes.

The rise of low-code technology in recent years has empowered modern financial institutions to innovate and transform enterprise applications and financial services. Research indicates that the financial services application industry is forecasted to reach a market value of approximately $164.01 billion by the year 2025, with a Compound Annual Growth Rate (CAGR) of 7.89%

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3 ways standardization enhances low-code and open-source security

In simplifying software development, low code can also help reduce cybersecurity complexity, thanks to enhanced standardization and integration.

Over the past couple of decades, the technical footprint of many enterprises has become very complex and difficult to maintain. As business leaders struggle to keep up with the constantly evolving customer demands and all the ancillary challenges that come with it, that complexity is only likely to increase. This has also made it harder to maintain accountability for managing risk. In other words, enterprises are becoming too technically complex to secure.

As enterprises grapple with a rapidly expanding data footprint, with data coming from myriad different sources, the need for standardization and simplified management becomes clearer. Add the unprecedented rise of remote work and the internet of things (IoT) into the mix, and that need is even greater. Organizations are now using an average of software-as-a-service (SaaS) apps, presenting a 14-fold increase over just six years.

Naturally, achieving a sufficient degree of information security becomes exponentially harder the larger and more diverse the software stack and data footprint. While many cloud vendors are now embracing open-source standardization to reduce complexity, problems like vendor lock-in and a general lack of digital sovereignty persist. This results in reduced control which, in turn, can lead to compromised security and a lack of compliance with industry standards.

For established enterprises, the challenge is even greater. Even if they have a robust digital transformation strategy in place, most are still grappling with legacy technology which, in turn, means data sources that are difficult to adapt for modern, cloud-based apps and architectures. This often results in enterprises not knowing exactly where all their data physically resides or which controls are in place to protect it. After all, you can’t protect what you don’t know about.

By embracing a combination of low-code software development and open-source licensing, enterprises can democratize development and achieve greater control over their data assets. Low-code simplifies and standardizes the creation of business apps, while the open-source model helps maintain digital sovereignty and control. With the right strategy and support, this powerful combination can greatly enhance an enterprise’s security posture. In this article, we’ll find out exactly how.

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Why ISVs Should Use Low-Code To Solve Challenges For The Banking Sector

The banking and financial sector generates a massive amount of data, with studies indicating that over 2.5 quintillion bytes of data are generated per day. Each activity and business function in the banking sector leaves a digital footprint backed by data, which opens up a wide variety of opportunities for financial institutions to refine the overall management of this information.

To address various challenges related to digitization, financial institutions require powerful software platforms that can improve user experiences, lower costs, increase business agility and accelerate speed to market. Therefore, low-code technology can enable your ISV (Independent Software Vendor) to create intelligent solutions quickly and easily, thus allowing your organization to add automation and facilitate innovation for the banking sector.

To combat the slow adoption of digital banking solutions, low-code development platforms can significantly accelerate enterprise application development without needing to invest large amounts of time, financial resources and human resources. Low-code is the most easily implementable solution that could help ISVs overcome the challenges that the banking industry is currently facing to help embrace and facilitate digital transformation more quickly.

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Why Professional Developers Should Embrace Low-Code

Recent advancements in low-code technology have completely transformed and revolutionized the field of enterprise application development. Low-code is defined as a visual approach to application development that can help citizen developers with little to no traditional coding experience to create powerful, high-functioning and custom enterprise applications. Low-code can facilitate easeless development through the use of drag-and-drop tools, visual modeling, on-screen guidance, workflow automation tools and much more.

Research indicates that the global low-code industry is forecasted to reach a market value of approximately $187 billion by the year 2030 with a Compound Annual Growth Rate (CAGR) of 31.1%. Therefore, low-code technology presents a valuable opportunity for modern businesses to significantly expedite the enterprise application development process.

However, many professional developers may be skeptical about the wide variety of advantages of low-code enterprise application development. However, low-code technology has the power to help professional developers take advantage of numerous features and tools that can drastically reduce the length of the enterprise application development cycle as well as restrict the amount of manual coding required to create high-functioning software; hence making the development process easier than ever before.

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Should You Use Your Low-Code Platform As Your Integration Hub?

Low-code application development is becoming more prevalent in all areas of business. Low-code is defined as an approach to software development that requires little to no manual coding to create complex business processes and enterprise applications. Users with no expert knowledge of coding or software development can use intuitive low-code development platforms to develop powerful enterprise applications. Many companies around the world have incorporated low-code platforms into their development stacks, hence giving them a significant competitive advantage.

An integration hub is a tool that enables businesses to interact and connect with multiple enterprise applications regardless of their location, whether they are in different cloud environments or on-premise and without needing to write repetitive lines of manual code. Data integration can combine data from various external data sources and make it much more valuable to your business. Furthermore, it enables your employees to collaborate more effectively and provide more value to the customer.

A recent study conducted by Gartner forecasted that low-code application development will be responsible for more than 65% of all application development by the year 2024. Therefore, low-code presents a valuable opportunity for both enterprise application development as well as data integration.

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Why More and More Financial Services Companies Are Using Low-Code to Build Their Own Software

Due to our constantly evolving business landscape, financial services companies are now tasked with collecting, tracking, monitoring and analyzing more data than ever before. However, with organizational resources more scarce than ever before, many financial services companies may find developing custom software and enterprise applications unattainable.

However, with the rise of low-code enterprise application development platforms, businesses can build more powerful, high-functioning enterprise applications in significantly less time than ever before. Research indicates that the global low-code industry is expected to reach a market value of approximately $187 billion by the year 2030 with a CAGR (Compound Annual Growth Rate) of 31.1%.

Therefore, as many businesses now begin to implement low-code technology into day-to-day business functions, it is crucial for modern financial services companies to recognize the power of using low-code to build enterprise software.

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Why SMBs should use low-code to automate their processes

Today, new methods and business practices replace old ones at lightning speed. Advancements in technology change the operational scenario of offices practically every day.

It is thus imperative for businesses to step up their game and progress in sync with the technology surrounding them. However, not every business has the resources to deploy a team of coders toward creating and maintaining new software technology to cater to its evolving needs. Small and medium businesses or SMBs need a cheaper, more viable solution to their problems.

That is where low code development platforms or LCDPs step in. Low code allows for visual-based development with the help of drag-and-drop editors and pre-built modules. The best thing about low code is that a high level of professional coding knowledge is not required to create apps through it.

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How IT Leaders Can Use Low-Code To Create And Empower Agile Teams

Low-code technology has advanced exponentially in recent years and has now established a stronghold over various organizational business processes and workflows. Over the past few years, businesses have substantially increased their use of low-code development solutions to build enterprise applications and software faster, gain a significant competitive advantage and continue the cycle of integrating digital technology to transform a business.

Agile, on the other hand, is an iterative approach to project management that can help assist teams in meeting the hectic demands of today’s workplace and current business landscape. It is made up of various methodologies that are all carefully designed based on versatility, transparency, quality, and continuous overall improvement. Recent studies have shown that Agile projects have a success rate of approximately 64%.

The various advantages of Agile teams can help make managers’ jobs easier and give them more control over their organizational projects. What distinguishes Agile is its emphasis on both providing quality and value to the customer and finishing organizational tasks within the project constraints. Furthermore, dynamic low-code solutions can help facilitate and empower Agile teams to achieve much more than ever before.

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How Low-Code Speeds Up And Simplifies Full-Stack Development

Full-stack development refers to the simultaneous development of both the front side as well as the back-end of a specific enterprise web application. Full-stack development can help ensure that requirements from both the client-side and server-side are being fulfilled. This process traditionally often involves hiring highly skilled software developers that have a deep understanding of operating systems as well as client and server software frameworks.

However, this can often be extremely time-consuming and can require a substantial amount of scarce organizational resources. Therefore, incorporating low-code development tools into your organization’s full-stack development can help your business substantially enhance the efficiency of web application expansion, speed up various business processes and streamline long-term digital transformation initiatives.

Low-code is defined as a visual approach to software development that can significantly reduce the amount of manual coding required to construct a custom application. With recent studies indicating that low-code technology will be responsible for almost 65% of all global application development by the year 2024, businesses must leverage the power of low-code development to optimize full-stack development. By integrating low-code into full-stack development processes, developers can facilitate effective server and client development without having to write repetitive lines of code and individually test new software iterations.

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