Today, low code application development platforms are becoming the go-to option for enterprises to accelerate their digital journeys. According to Gartner, “low-code application platforms (LCAP) are expected to remain the largest component of the low-code development technology market through 2022, increasing nearly 30% from 2020 to reach $5.8 billion in 2021.”
What do you need to know about low code application development platforms?
A low code application development platform empowers professional IT developers and streamlines enterprise-wide workflows by enabling rapid development and deployment of complex, context-aware, and customer-centric business applications. It can help enterprises deliver a frictionless and hassle-free experience to their customers, employees, and partners.
With a low code platform, enterprises can:
Enable end-to-end automation of complex and content-centric business processes
Create domain-rich solutions to cater to dynamically evolving business requirements
Rapidly design and develop enterprise-grade applications for web and mobile
Drive continuous process improvement and enable a rich user experience with new-age technologies
Key business benefits to unlock
Ensure happy customers: Today’s tech-savvy customers want you to respond quickly to their evolving needs. Here, low code arrives as a savior by allowing you to rapidly adapt to the changing market and customer needs.
Empower IT: IT teams are burdened with the maintenance of systems with periodic updates, compliance checks, and various performance measurements. You can minimize this technical burden by automating such recurring tasks through low code capabilities, thereby letting your IT team handle more critical and dynamic processes.
Enable Faster go-to-market: The platform can help reduce application development duration through reusable components and drag-and-drop tools. This enables enterprises to bring their applications to market quickly and timely incorporate any required changes.
Enhance IT governance: Shadow IT is one of the most significant areas of concern for enterprises as it accrues technical debt and affects its overall risk monitoring. Low code deftly handles shadow IT by reducing dependency on third-party applications and ensuring a collaboration-driven work environment. Low code boosts IT governance by doing away with data, process, and security vulnerabilities.
Your enterprise can gain much more than speed and agility by leveraging low code with a suitable platform. Read this whitepaper to learn how a low code-based digital transformation platform can help organizations unlock simplicity by managing their content, processes, and communications.
Your enterprise’s critical information may exist in different forms, such as paper, digital formats, office documents, and across multiple locations. Gathering and capturing the sheer volumes of information effectively and accurately from the deluge of organizational content is a tedious process, especially when it is done manually. To overcome these challenges, it is important for business leaders, like you, to streamline the process of data acquisition and information capture.
What Is Information Capture?
It is the process of capturing unstructured information from paper-based or digital documents and translating the same into structured data, readable by a digital device.
The first step in an organization’s digital transition starts with digitizing its paper-based processes. With the help of information capture software, you can streamline data management while replacing traditional paper-based forms.
Understanding with a Use Case
A financial institution can leverage an information capture tool to extract relevant details from a supporting document provided by the customer, such as identity proof. The software will automatically retrieve information, including name, address, contact details, etc. from the document. This helps minimize manual errors, boost employee productivity, and drastically reduce the time for account opening.
Business Benefits of Leveraging Information Capture Software
In the above example, it is evident that enterprises can maximize their organizational efficiency by using information capture software. Let us dive deep into some of the other business benefits of the software:
Reduction of operating costs through automation of document-intensive business processes, such as document handling, storage, and manual data entry
Resource optimization through automating time-consuming and error-prone manual tasks, including document classification, data separation, and data indexing
Faster document processing through concurrently performing bulk scans, classifications, image enhancements, and extractions
Furthermore, the information capture software can be advanced to the next level by combining data capture functionalities with content management, process automation, and workflow capabilities. It can unlock new avenues for enhanced data capture, efficient content management, smarter decision-making, and improved workforce productivity.
If you still think that low code is only used to build simple applications, you have a major misconception. There is so much an organization can do with the power of a low code application development platform. The tool is ideal for highly scalable applications, the kind that can support your organization’s digital transformation initiatives.
A study by Forrester anticipates the low code development market to exceed $21 billion by 2022 and experience a 50% annual growth rate in the next five years. This proves that a low code application development is definitely not a fad and is here to stay.
Low code application development is not new. What’s new is that leading enterprises today have realized that they can go the low code way for faster innovation. Low code has become the go-to choice for its visual development environment, point-and-click user interfaces, drag-and-drop control, automation capabilities, and workflow management.
But do you know all that you can build with a low code platform?
Honestly, a whole lot! Professional IT developers and business users can collaborate on numerous projects with a low code platform.
Here’s a glimpse into the 4 use cases of low code application development platform:
Content-driven workflow applications
Low code platforms can enable businesses to automate their end-to-end content-centric processes/applications–such as customer onboarding, claims processing, and online account opening–ensuring that the right content is available at the right time to the right people at appropriate stages of the process.
Mobile app development
Businesses can rapidly design and develop responsive mobile applications with point-and-click and drag-and-drop functionalities in a well-abstracted low code application development platform.
Customer-facing and customer support portals
With low code, an organization can develop customer-facing portals such as customer self-service or agent portals that can easily be integrated with existing systems. Businesses can also leverage a template-based user interface development interface to design these portals for faster, simpler, and more efficient ways of interacting with the customer in real-time.
Modernization of legacy systems
Low code can help enterprises extend their legacy systems. By leveraging the low code application development platform, businesses can support core systems and develop applications that can easily integrate into the existing system.
These are just a few of the numerous use cases on how low code application development can drive up productivity, revenue, and customer experience. To learn more about how low code can help your enterprise, read the case study on how National Commercial Bank Jamaica Limited leveraged a low code application platform to centralize its loan underwriting service and decrease turn-around time for loan applications.
A content services platform is the ideal approach for optimizing business performance through efficient utilization of enterprise content. It can enable your organization to create, collaborate, share, transform, and leverage content for deriving business value.
The platform, backed with capabilities such as audio-video management, content analytics, cloud computing, records management, and others, enables secure document collaboration, facilitates anytime-anywhere information access, and helps derive valuable insights.
Unleash the Power of Content with Content Services Platform
Here are six ways in which a content services platform can help you efficiently leverage content:
Ensuring Content Governance and Compliance: Ensure complete content governance for regulatory compliance. Create labels and policies, such as retention, disposition, and storage, to manage records while complying with various regulatory standards.
Enabling Efficient Content Extraction: Extract critical data from paper and digital documents to enhance operational efficiency and reduce errors. Aggregate documents from disparate sources, make them legible, extract data with precision while continuously improving extraction accuracy.
Facilitating Secure Information Access: Enable anytime-anywhere information access and real-time collaboration. Empower employees with smart search and intelligent recommendations.
Driving Contextual Engagement: Capture, manage, and consume content generated in the context of business processes. Derive context from information, residing across various sources, and deliver personalized communications to customers across multiple touchpoints.
Streamlining Content Lifecycle Management: Create, manage, share, and archive different types of content while enabling easy and secure access.
Enabling Hybrid Records Management: Manage various records, including e-mails, physical, and electronic records, while retaining their integrity and authenticity. Create and manage multiple classification schemes for records that help in easy search and retrieval.
Digital transformation has undoubtedly become a critical part of the boardroom agenda for organizations of all sizes and scales. Gartner states that organizations accelerate digital transformation processes for long-term growth and profitability. Yet: “53% of the organizations surveyed remain untested in the face of digital challenge and their digital transformation readiness therefore uncertain.”
But you can be ready to face the digital challenges by utilizing hyper-automation tools. The range of tools includes automation technologies such as robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), natural language processing (NLP), optical character recognition (OCR), process discovery, and others. A digital transformation platform helps business leaders like you build a connected enterprise. These automation solutions will help by engaging employees, customers, and third-party across regions, functions, and departments through their preferred location, time, and channel. It helps fulfill your initiatives and bring together people, processes, and systems seamlessly in real-time. Furthermore, by leveraging an automation platform, you can transform your complex business processes, spanning across multiple siloed departments, dozens of disparate databases, and millions of files into unified and streamlined business applications.
How digital transformation platform helps business:
Optimize and Automate Business Processes
AI-driven digital transformation platform automates and streamlines end-to-end business processes, including content, processes, and communication. This hyper-automation technology allows you to do away with repetitive tasks and manual tasks and enable the business user to function at an increased level of efficiency and decision making. Using adaptive algorithms and advanced analytics, It can respond quickly to organizational demands, reduces business risks, and takes preventive actions based on AI predictive analysis. Furthermore, it helps improve service level agreements, enhance operational efficiency, and optimize operational costs by a significant margin.
Accessing Contextual Information
Organizations generate a high volume of content, making it exceedingly challenging to store, classify, mine, or draw insights from this information. Here’s where a digital transformation platform comes into the picture. The platform enables your users to access search content from federated repositories, maintain data confidentiality, leverage content-centric workflows to drive productivity, mine data and employ content analytics, and apply appropriate retention and compliance policies
Leveraging an ideal digital transformation platform, you can keep your customers engaged through their preferred channels, including mobile, web, chatbots, social media, etc. Furthermore, you can provide consistent interactions and customer experiences even if the customer switches the channel in-between
Developing Applications Faster
A robust digital transformation platform reduces time-to-market with drag-and-drop and point-and-click configurability to build and deploy applications faster. Low-code/No-code features empower you to expand your application portfolio by rapidly developing critical business applications and facilitating enhanced collaboration between business and IT teams
Key Takeaways
In a nutshell, an ideal digital transformation platform helps streamline content, automates business processes, accelerates digitization, and enables you to deliver a superior experience to customers and partners. It also empowers employees to focus on customer-centric activities while boosting their day-to-day productivity.
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