Low code solutions in business operations

The global low-code development platform market is projected to reach $63.38 billion by 2027, growing at a CAGR of 23.25%. According to Encora, by 2030 the global low-code application platforms market value will reach $187 billion. Gartner predicts that by 2025, 65% of application development will use low-code/no-code technologies, indicating that combining these with BREs could become increasingly common.

Whether you like it or not, traditional development revolving around custom solutions to create apps will be less and less popular, with low code app development taking over.

The Rise of Low Code Platforms

Bock and Frank define Low Code Platforms (LCPs) are development environments that allow users without technical expertise or coding skills to create applications through graphical user interfaces and configuration instead of traditional hand-coded computer programming. These platforms enable both individuals with minimal coding knowledge and professional development teams to rapidly design, build, and deploy business apps. LCPs blend the ease of drag-and-drop components, model-driven logic, and the ability to insert custom code, streamlining app development and reducing the reliance on conventional software development methods.

You can find the benefits of low code development platform in Exploring Low-Code Development: A Comprehensive Literature Review, by Rokis, K., & Kirikova, M. The publication outlines several key benefits of low-code development platforms, including:

accelerated development timelines,
the ability to involve non-professional developers in the application creation process,
cost reduction through streamlined development efforts,
enhanced business responsiveness.

These platforms are pivotal in enabling organizations to quickly adapt to market changes and customer needs by simplifying the development process.

Low Code vs. No Code Development Platforms: Understanding the Differences

While low code and no code platforms share the goal of simplifying the application development process, they cater to slightly different audiences and use cases.

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Feature	Low Code Platforms	No Code Platforms
Target Audience	Professional developers, business analysts, and technically skilled business users	Business users with no technical background
Flexibility	High flexibility with the ability to customize through code	Limited flexibility, primarily configuration-based
Complexity of Apps	Suitable for a wide range of applications, from simple to complex	Best suited for simpler applications and workflows
Development Speed	Rapid development, but may require some coding for complex scenarios	Extremely rapid development due to purely visual development and configuration
Customization	Allows for extensive customization through coding	Customization mainly through configuration, with limited options
Integration Capabilities	Often includes advanced integration capabilities for external systems and databases	Basic integration capabilities, may be limited to predefined integrations
Use Cases	Broad range of use cases, including enterprise applications	Ideal for straightforward applications, such as internal tools and simple workflows
Learning Curve	Moderate learning curve, depending on the complexity of the platform	Low learning curve, designed to be intuitive for non-technical users
Control Over Code	Provides access to the underlying code for detailed customization and optimization	No access to code, operates on a strictly visual or block-based interface

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Why Business Rules Engines are Key for Low Code Development

Business rules engines are a cornerstone of low code development for several reasons. First and foremost, they enable businesses to encapsulate complex decision logic into simple, manageable rules that can be easily understood and maintained by non-technical users. This democratization of development empowers business users to directly contribute to the application development process, bridging the gap between IT and business operations.

Furthermore, business rules engines enhance the agility of businesses. In a landscape where business conditions and regulatory environments are constantly changing, the ability to quickly update business logic without extensive coding is a significant advantage. This agility allows businesses to respond more swiftly to market changes, customer feedback, and new regulatory requirements, maintaining a competitive edge.

The strategic importance of business rules engines in low code development also lies in their ability to facilitate customization and scalability. As businesses grow and their operations become more complex, the need for customized solutions becomes more acute. Business rules engines allow for the creation of tailored solutions that can scale with the business, without the need for extensive redevelopment or significant investment in IT resources.

How Low Code Platforms Empower Digital Transformation

Low code platforms are at the forefront of driving digital transformation across industries. By enabling rapid development and deployment of applications, these platforms help businesses adapt to digital trends, meet evolving customer expectations, and stay competitive in a fast-paced market.

Low code supports digital transformation in insurance by enabling rapid development and deployment of digital solutions with minimal coding. This approach reduces complexity, accelerates innovation, and allows for more agile responses to market changes and customer needs. By leveraging low code, insurance companies can efficiently modernize legacy systems, enhance customer experiences, and streamline operations, positioning themselves for competitive advantage in the digital era.

Here's how low code platforms contribute to digital transformation:

Accelerated Innovation: Low code platforms reduce the complexity of application development, allowing businesses to quickly turn innovative ideas into functional applications. This agility is crucial for businesses looking to explore new digital services or improve existing ones to enhance customer experience.
Operational Efficiency: By automating workflows and processes, low code platforms help businesses streamline operations, reduce manual tasks, and improve overall efficiency. This operational agility allows companies to focus resources on strategic initiatives rather than routine tasks.
Enhanced Collaboration: Low code platforms bridge the gap between IT and business teams, fostering a collaborative environment where applications are developed with cross-functional input. This collaboration ensures that digital solutions are closely aligned with business goals and user needs.
Scalability: As businesses grow and their digital needs evolve, low code platforms provide the scalability needed to expand and adapt applications quickly. This scalability supports the dynamic nature of digital transformation, enabling businesses to respond to new opportunities and challenges effectively.

Choosing the Right Low Code Platform for Your Business

Selecting the right low code platform is a critical decision that can significantly impact your organization's ability to innovate and compete. Here are key factors to consider when choosing a low code platform:

Business Requirements: Assess the specific needs of your business, including the types of applications you intend to develop, the complexity of your processes, and your digital transformation goals.
Integration Capabilities: Consider how well the platform integrates with your existing systems and data sources. Seamless integration is crucial for leveraging existing assets and ensuring a unified digital ecosystem.
Scalability and Performance: Evaluate the platform's ability to scale applications to meet growing user demands and its performance under heavy loads, ensuring it can support your business as it expands.
Security and Compliance: Ensure the platform meets industry standards for security and compliance, especially if you operate in a regulated sector or handle sensitive data.
User Experience: Look for platforms that offer a great developer experience, including intuitive design tools, comprehensive documentation, and a supportive community or professional support services.
Cost: Consider the total cost of ownership, including licensing fees, development costs, and any additional expenses for training or support. Balancing cost with the platform's value to your business is essential for a sustainable investment.

Conclusion

Low code application development revolutionizes app creation through its drag and drop interface, simplifying the development environment and making app development accessible to more creators. This approach, supported by low code tools and platforms, enables rapid development and deployment of low code apps, reducing the traditional complexities of software development. Low code development tools offer a streamlined, efficient path for developing robust applications, marking a significant shift in how digital solutions are crafted and brought to market.

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