TGI Fridays recently introduced Flanagan, an AI mixologist. It is an app and chatbot that creates personalized drinks based on customer flavor preferences and moods. In another side of the marketplace, Nissan integrated Microsoft Office 365 to bridge silos, unify business units, make them “mobile-enabled”, and to create a “digital workplace”. This is the age of the “future-forward experience”. As many companies and brands are working towards delivering experience, the key enablers are emerging technology and modern software applications.
Technology plays an important role in this age of the experience economy. The workplace is transforming, aiming to become more optimised. The workforce is evolving, where employees are now working beyond boundaries and using technology to collaborate and communicate in productive ways. Customers are becoming more demanding, expecting exceptional experiences. Reflecting these changes, enterprises and businesses are modernising their processes and systems.
Along with the evolving workplace, workforce, and marketplace, the role of IT leaders and CIOs is also transforming. With the demanding need to adapt to a highly-optimised and hyper-connected world, CIOs are nudged into taking a strategic role. They are now expected to be change agents, responsible not only for managing IT budgets but also to identify revenue streams and create business value.
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As digital transformation has become the main agenda, CIOs are using technology strategically and leveraging digital opportunities. The fact that in 2019, 40% of technology spending (more than $2 trillion) is estimated to have been assigned to digital transformation initiatives, adoption of emerging technology has become the biggest objective for enterprises. The app economy plays a crucial in driving digital transformation and business innovation. CIOs have to consider the people, platforms, and processes that will cater to the increasing demand for modern applications.
The increasing demand for enterprise applications has led to the increasing adoption of low-code platforms in the Application Development & Delivery (AD&D) market. Enterprises are working towards leveraging agile practices and incorporating development techniques to create a minimum viable product (MVP).
CIOs and IT leaders have to determine what practices, what type of technology and the skills required to achieve modernisation. Here’s how emerging technologies such as low-code platforms help CIOs drive digital transformation ROI.
How CIOs can leverage the potential of low-code platforms to drive digital transformation ROI
● Align goals with people, processes, and platforms — Digital transformation goals need to be aligned with the business strategy and the culture. Senior IT leaders and CIOs need to communicate the goals and ensure that their workforce is tech-savvy to deliver digital transformation objectives. Alignment of strategies with business needs and expectations will provide CIOs with a better opportunity to succeed in implementation.
Emerging technology such as low-code platforms provides IT leaders with the potential to bridge silos, streamline processes and enable teams to collaborate and focus on core innovation. Using rapid application development tools, CIOs have been able to accelerate their revenue-generation and digital transformation initiatives.
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● Get equipped with a modern technology stack — Before beginning the journey of digital transformation, CIOs need to identify legacy systems that need to be modernised. Incrementally modernising traditional systems can allow stakeholders to witness the benefits and ensure wider adoption in the enterprise. By introducing a modern technology stack, enterprises can also involve and engage employees to upskill and learn about new technologies.
What low-code platforms provide is the potential to modernise applications without rebuilding older applications from scratch. The agility and speed to develop enterprise applications make low-code platforms a preferred choice.
● Accelerate time-to-market delivery of applications — The hyper-demands of the marketplace put much pressure on enterprises to deliver more with less. Accelerating time to market of product delivery needs to one of the main objectives of transformation and modernisation.
Time being of the essence, IT leaders are widely adopting low-code platforms because they enable developing applications faster. Rapid application development reduces time spent on design and coding while improving developer productivity. By advancing the ‘speed to market’ metrics, CIOs using low-code platforms can achieve a higher return on platform investment.
● Develop custom applications to deliver user experience (UX) — While time is of the essence so is the experience. When introducing new technology and applications, user experience (UX) has become the core objective. IT leaders need to focus on the purpose of developing new applications. The objective must revolve around the needs of the users and how emerging technology can help them improve collaboration, communication, productivity, and performance. Ideally, application development strategies need to revolve around the ethos of users.
Why CIOs need to drive digital transformation
With low-code platforms custom-built applications can be developed based on user preferences with agility and speed. They enable IT leaders to create enterprise apps that are designed to adapt to experiences instead of devices. By improving the usability metrics, emerging technology like low-code platforms has higher adoption rates and better opportunities to deliver business value.
● Choose the right platform and technology — Given the increasing demands of the digital marketplace, modernisation and digital transformation initiatives require IT infrastructure to be agile, flexible, scalable and cost-effective. By supporting the development and delivery of custom applications on-time, low-code platforms ensure enterprise agility efficiently and cost-effectively. With many players in the AD&D market, CIOs need to wisely choose the right low-code platform.
Platforms offer ready-made application infrastructure, improve usability with rich user interfaces, enable full-stack development, give access to the best-of-breed technology stack, enable API-driven integration and encourage business user participation. Ideally, the chosen low-code platform should firstly serve a particular business need. It should allow for code reusability, improve agility, ensure faster time to market, and make integration and deployment easier without vendor lock-in.
Now is the time for CIOs to consider digital transformation
Enterprise-wide digital transformation is all-encompassing. It affects all stakeholders and requires revamping processes, upskilling people, integrating modern technology and changing the culture. As change agents, IT modernization and digital transformation can be a challenging feat for CIOs and IT leaders. Emerging technology such as low-code platforms acts as a catalyst to change, providing CIOs with a great opportunity to accelerate modernisation and support digital transformation initiatives.
As the hyper demands of the enterprise continues to increase, the technology that delivers innovative solutions needs to be identified. The strategy, approach, and technology that CIOs and IT leaders choose will be the factors that determine the rate of returns on platform investment. The faster the informed decision is made, the sooner the benefits will be evident because the market waits for no one.
Written by Vijay Pullur, CEO, WaveMaker