Low Code Application Platform – Influence on Industries

Low-code application platforms (LCAP) have proven to revolutionize industries for the better. From hyperautomation of processes to data orchestration, it is forecasted that by the year 2024 about 80% of low-code no-code users help software users grow their knowledge in software development.

Low-code tools have helped industries create mobile applications without the professional expertise of coding. Low-code application platforms offer a visual user interface with in-built features like drag-and-drop that allow citizen developers and business stakeholders to tailor apps faster, without coding complexity.

The world has seen a steep rise in the popularity of low-code application platforms due to its abundant perks – boosting productivity and innovation, speeding results, enhancing user experience, enabling better collaboration and decision making, and reducing costs. Credit to the many advantages that it produces, many industries have seen a sharp increase in their productivity, and business success.

Industries benefiting from Low-Code Application Platform

• Healthcare
• Manufacturing
• Retail
• BFSI

Impact on Healthcare Industry

Although graced by rampant digital transformation, the healthcare industry can still find themselves struggling with patient demands, medical care, and staffing shortages. It also wrestles with streamlining outdated processes and appealing to a more technologically-advanced younger patient group. 

COVID-19 pandemic exposed the crevices within the healthcare sector, and propelled medical professionals to adopt more advanced emerging technologies, like blockchain. However, the sector still heavily relies on traditional development processes which slows down the processes of development, testing, and deployment. This is where low-code application platforms come into the picture and help healthcare providers solve systematic bottlenecks in less time and cost.

Medical professionals utilize low-code solutions to build HIPAA-compliant apps (Health Insurance Portability and Accountability Act). This reduces human efforts on time-consuming, repetitive tasks. LCAP enabled healthcare organizations to curate software with user-friendly interfaces without coding knowledge. These platforms offer features that streamline and manage data to make faster decisions and improve patient outcomes. Due to automation, it also reduces chances of human errors and provides faster medical solutions.

Impact on Manufacturing Industry

Low code application platforms have contributed to the development of smart factories. With the perfect blend of machine learning (ML) and artificial intelligence (AI), back-office operations have improved and core systems strengthened. By extracting information from these systems, companies can gain insightful knowledge on how to solve loopholes and drive business growth.

Small and medium-sized enterprises financially benefit the most from LCAP. Deployment, set-ups, and maintenance costs are comparatively much lower, which thereby help with digital transformation. Integration with other platforms like CRMs and MESs are also quite seamless, which enable manufacturers to create smart factories. This helps businesses maintain a constant coordination and interaction between factory floors. 

LCAP efforts have also evolved the manufacturing industry by centralizing visibility of data processing, and aid manufacturers make better decisions and handle timely deliverables. Managers of the manufacturing sector can streamline the launch process of new products, and also monitor the functionality of machines.

Impact on Retail Industry

Implementation of low-code application platforms in the retail industry has produced several perks, which streamlined processes and boosted innovation. Low-code solutions transform the retail sector digitally by increasing productivity and agility, quickening time to market, and reducing manual labor and errors, which in conclusion, leads to improved customer satisfaction and experience. 

To stay updated with customer needs, the retail industry needs to adapt to change fast. This not only helps deliver products to the market swiftly but also gives an upper edge over competitors. To achieve such adaptability and sudden changes, businesses must streamline processes like ideation and development to get to the end result. To fuel this venture, low-code application platforms play a massive role. Retail businesses must focus on their target audience’s needs and satiate their demands through customized experience delivery. This helps solidify brand loyalty and recognition. LCAP efforts also help automate processes that enable retailers to reduce human errors, and enhance efficiency. 

Trends Leading the Retail Industry to Implement LCAP

• Competitive marketing edge
• Digital transformation needs
• Personalization and customization
• Agile development requirements
• Innovation and accessibility

Impact on BFSI Industry

BFSI moguls have openly expressed the urge to shift to low-code application platforms due to their vast array of perks, along with artificial intelligence (AI). These two vehicles are the driving forces that revolutionized the banking, financial services and insurance (BFSI) sector. The amalgamation of these two emerging technologies led to increased agility and enhanced efficiency. 

Low-code application platforms put businesses in their customers’ shoes, which help them build customer-centric apps. From immersive UI experiences to robust legacy systems, this client-based approach prioritizes customer experience. Faster the products reach the mass, quicker it is for businesses to gain insight into what works for the target audience and what does not – aiding in future improvements and enhancements.

Low-code is adept at simplifying complex digital transactions. Processes like income verification require several steps that can get quite daunting for users. Credit to AI integration and natural language processing (NLP) efforts, complex decision-making processes are automated, alleviating customer stress. For instance, AI-based chatbots can in a jiffy answer user queries and provide data related to transaction history and account information. This streamlines manual work and reduces response time by about 29%!

Conclusion

The ubiquitous impact of low-code application platforms have stirred quite the buzz around such industries. Businesses are proliferating due to the increased production of high-quality products without spending more money and time. At Josh Software, our LCAP experts promise to fashion a process that aligns with your business needs and help you reap the benefits of the service.