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Five Benefits of Low-Code Technology for Businesses

As businesses strive toward innovation, many are looking to extend their capabilities and boost efficiency with low-code technologies. In addition to introducing a wealth of new utility to an organization’s tech stack, low-code solutions add a layer of much-needed simplification to existing complex systems. Businesses in the payments space, for example, are increasingly using low-code development services to overcome challenges related to ISO 20022 compliance and monetization.

To gain a broader understanding of the value low-code technology can deliver, here are five unique benefits to consider:

Enhanced collaboration between IT and business. Collaboration between IT and business personnel is often critical to ensure that a final product aligns with the company’s intended vision. However, in the absence of the right tools to bridge the inevitable knowledge gap, IT developers and business strategists can feel as though they’re communicating in a different language. Low-code platforms provide intuitive visual modeling tools helping to ensure both teams are on the same page, leading to greater buy-in by business leaders, efficient iteration on concepts, and reduced friction between business segments.

Unbounded creativity. Enhanced collaboration also means a less restrictive creative process. Developers often have shared interests, and while this isn’t always a bad thing, it can sometimes place limitations on creativity and concept development. Low-code technology allows business personnel with different backgrounds and ideas to actively participate in application development, removing creative boundaries, often resulting in more innovative solutions and approaches.

Technical talent retention. In light of the recent “Great Resignation,” in which millions of employees decided to switch jobs or remove themselves from the workforce entirely, talent retention has never been more important. This can be particularly challenging when it comes to technical talent, who are less likely to be enticed by a simple pay raise. Most burgeoning developers and technicians didn’t enter the space to spend countless hours attending to low-level “plumbing.”  They chose development to work on exciting projects and be at the forefront of revolutionary innovations. Low-code technology can speed-up, or altogether eliminate low-level tasks, freeing up technical talent to focus on the work that inspires them the most.

Documentation. Speaking of low-level tasks, documenting code and applications is often an incredibly tedious process and isn’t exactly the highlight of any developer’s workday. Nevertheless, documentation remains critical, particularly if an organization hopes to improve and build out its applications into the future. With low-code solutions, documentation can be generated automatically, providing peace of mind that all records are in order without slowing down the overall development process.

Compliance. As regulations evolve alongside the development of new technologies, ensuring an organization builds in the ability to meet compliance needs is essential. Integrating compliance protections manually can often create bottlenecks and stifle innovation, particularly when requirements are always changing. By leveraging low-code technologies, businesses can easily install guard rails that ensure requirements are built into the coding process, so developers can develop faster without the added worry of compliance.

Want to learn more about how Volante’s low-code platform can benefit your business? Reach out to us here.

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