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6 Factors Driving CXOs' Interest in Low-Code, No-Code Platforms
6 Factors Driving CXOs' Interest in Low-Code, No-Code Platforms

August 9, 2023

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In today's dynamic business world, organizations grapple with evident challenges — from evolving trends and economic fluctuations to shifting customer expectations and heightened competition. A recent Forbes piece highlights potential significant hurdles for businesses in 2023, encompassing: inflation and economic downturn, supply chain security, elevated customer experience, rapid digital transformation, the talent battle, data and device security, and sustainability must be addressed. To thrive in this era, swift action is imperative to avoid reduced employee efficiency, a shrinking customer base, and a diminishing market presence.

 Embrace Speed with Low-Code Platforms

 In this era of rapid change, organizations must act swiftly to avoid potential pitfalls like reduced employee productivity, a shrinking customer base, and diminished market presence. Low-code and no-code platforms offer a dynamic solution to achieve these goals efficiently.

 Implementing a low-code/no-code strategy can catalyze comprehensive enterprise transformation, propelling companies towards a future-focused direction. Utilizing intuitive visual user interfaces, drag-and-drop functionalities, and streamlined workflows, these platforms empower users of diverse skill levels to swiftly create and deploy solutions.

 Driven by these capabilities, Gartner predicts the low-code market to surge to $30 billion by 2025, while Statista projects global revenue from the low-code development software market to reach $65.15 billion in 2027.

 Decoding the Buzz around Low-Code and No-Code Platforms

 The scarcity of skilled professional developers coupled with the urgency to expedite development projects has sparked an explosive surge in low-code and no-code platforms. These platforms introduce an innovative software development approach that minimizes or eliminates coding.

 According to Tech Target, low-code/no-code development platforms represent visual software development environments, empowering both enterprise developers and citizen developers to build apps, effortlessly assemble application components, replace integrated development environments (ide), establish connections, and design web or mobile apps.

By liberating users from the intricacies of coding, these platforms empower business analysts, office administrators, and everyday employees to construct and evaluate code applications. Capitalizing on user-friendly GUIs and APIs, individuals can amalgamate components and devise new apps and solutions to address routine business challenges.

Harnessing these platforms, CXOs can swiftly respond to emerging trends and technological shifts, perpetually aligning with evolving technologies.

Amid the ever-changing digital landscape, low-code and no-code platforms facilitate the creation of custom solutions for employees and customers, substantially reducing the coding burden on citizen developers and software engineering teams.

 Why CXOs Embrace Low-Code Platforms?

 Driven by the imperative to swiftly deliver a high-quality product or service to the market, CXOs are increasingly drawn to the allure of low-code and no-code platforms. Consider the pivotal factors contributing to the remarkable ascent of these platforms:

 Navigating Global Turmoil 

The lingering effects of the pandemic reverberate through the corporate world. Coupled with ongoing geopolitical tensions and a looming global economic downturn, compounded by frequent regulatory shifts, organizations confront a daunting landscape.

Crafting Agile Innovation

Crafting a resilient and personalized innovation strategy necessitates aligning capabilities with broader business and IT visions. Low-code and no-code solutions facilitate rapid application development and deployment. What was once measured in months can now be accomplished within weeks, accommodating swift iterations and fostering an agile business approach.

 Shifting Industry Landscape

The competitive dynamics across industries are in constant flux, as emerging entrants challenge established norms. Anticipating the creation of 100 million tech jobs by 2025, low-code and no-code platforms provide an ideal avenue for businesses to innovate without extensive expertise or technical training.

 These user-friendly platforms democratize app development, enabling organizations to pioneer inventive solutions ahead of competitors.

 Adapting to Trends

The past years have witnessed rapid digital transformation, with technology now serving as businesses' bedrock. Low-code and no-code platforms ensure agility amid evolving trends, simplifying technology implementation to meet business and customer needs efficiently.

 Catering to Dynamic Customer Demands

As customer needs evolve, organizations seek novel ways to meet fluctuating demands. Low-code and no-code platforms expedite creating software program development, requiring minimal expertise to initiate projects. In response to customers' desire for immediate solutions, these platforms bridge skill gaps and empower real-time adaptation to evolving customer preferences.

 Embracing the Hybrid Work Shift

While office-based work endures, the lasting influence of hybrid work culture is evident. The pandemic's impact prompted a reevaluation of work methods, fueling increased interest in low-code and no-code platforms.

 Recognizing the Challenge

With the growing demand for operational business apps surpassing the capacity of traditional developers, global CXOs recognize the pivotal role these platforms play in swiftly deploying applications across the organization, shaping the future of work.

 Enhancing ROI

Low-code and no-code platforms transcend the demand for new digital experiences. They amplify business agility and synchronize with market dynamics. By harnessing principles of reusability, abstract coding, and streamlined development, they yield substantial returns on investment. Freed from the need for new tools or skill acquisition, organizations achieve significant cost savings and heightened revenue through expedited software delivery.

 The Path Ahead

For CXOs shaping a digital strategy in 2023 and beyond, navigating the changing landscape of global trends and emerging technologies is imperative. Our role as a trusted technology partner working with prominent tech firms, banks, and enterprises reveals a consistent embrace of low-code development in the evolution of SaaS-based applications.

 


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Xoriant is a Silicon Valley-headquartered digital product engineering, software development, and technology services firm with offices in the USA,UK, Ireland, Mexico, Canada and Asia. From startups to the Fortune 100, we deliver innovative solutions, accelerating time to market and ensuring our clients' competitiveness in industries like BFSI, High Tech, Healthcare, Manufacturing and Retail. Across all our technology focus areas-digital product engineering, DevOps, cloud, infrastructure, and security, big data and analytics, data engineering, management and governance -every solution we develop benefits from our product engineering pedigree. It also includes successful methodologies, framework components, and accelerators for rapidly solving important client challenges. For 30 years and counting, we have taken great pride in our long-lasting, deep relationships with our clients.

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