How To Use Low-Code BPM To Overcome Complex Business Challenges

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Business process management (BPM) is an organizational discipline in which a company takes a step back and examines all of its business processes individually, collectively and holistically. It examines the current situation and identifies potential areas for improvement to create a more efficient and effective organization. It is the process by which a company creates, edits and analyzes the predictable processes that form the foundation of its business operations.

BPM software enables organizations to align various business functions with customer needs and assists organizational executives in determining how to deploy, monitor and measure company resources. When properly implemented and executed, BPM has the potential to significantly increase efficiency and productivity, lower overall costs and reduce the risk of human errors, thereby substantially optimizing results.

In recent years, building enterprise applications has become much more accessible due to low-code application development. Low-code application development platforms can enable businesses and citizen developers to create powerful BPM software without extensive coding knowledge or the interference of a skilled software developer. According to a recent study, 84% of enterprises have turned to low-code technology to reduce strain on IT resources, increase speed-to-market and involve the business in overall digital asset development.

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How Can Cities and Local Governments Leverage Low-Code To Overcome Their Biggest Challenges

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Urban technology has experienced rapid change over the past couple of years. New digital systems are constantly being introduced in cities and local governments, and thus consequently being integrated into daily life. The increasingly vast innovations and consistent updates in technological solutions and mobile systems can provide cities and local governments with a wide variety of benefits that can help them overcome their biggest operational challenges. Smart cities can leverage the power of low-code solutions to deal with monitoring issues, analyze data, collect, track and monitor information and systems and establish order in various processes.

A smart city is defined as a geographical area that leverages the power of technological solutions to provide its citizens with the most optimum and efficient communal processes by improving administrative systems, public services and overall quality of life. Recent studies have shown that the revenue from smart city infrastructure is forecasted to grow to more than $100 billion by the year 2025.

Furthermore, low-code application development platforms can enable smart cities to build powerful solutions that can automate various time-consuming and impractical daily processes that cities and local governments are tasked with overseeing.

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Low-Code Automation vs. iBPM: Which Should You Use For Your Business?

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Business process management is defined as a set of organizational activities and processes which are undergone with the ultimate goal of tracking, analyzing, optimizing, automating and improving the overall functioning of various day-to-day business processes.

Business process management can be an extremely tedious, time-consuming and impractical process if not monitored by a digital solution. However, as the number of digital platforms and mobile solutions available to businesses increases exponentially, many businesses are unsure about what type of solution they should use to optimize their business processes: low-code automation and development platforms or iBPM playtforms.

Low-code automation solutions allow users to automate various business processes using a drag-and-drop app builder, a visual workflow builder and a scripting engine. This allows citizen developers and business technologists with little to no traditional coding knowledge to effectively and efficiently automate complex business processes. At the same time, it allows developers with coding experience to create process workflows and build apps in a fraction of the time it would take with traditional coding.

Intelligent Business Process Management (iBPM), on the other hand, involves the integration of artificial intelligence, machine learning and robotic process automation to automate various business processes using data analysis. iBPM solutions usually incorporate visual interfaces and a responsive software design.

But first, what are the benefits of automating your business processes?

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How To Use Low-Code To Eliminate Manual Processes In The Banking Sector

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With evolution in digital technology and mobile solutions, it is crucial to modernize various processes in the banking sector. Although many processes may require human interference and supervision, many manual processes in the banking sector may be repetitive,  time-consuming and can hence be automated. Automation can help streamline various tedious processes that would have otherwise had to have been performed manually by an organizational employee.

Performing certain tasks manually may increase the risk of human error. Although human error is almost unavoidable in certain situations, the potential risk associated with handling large sums of money, maintaining customer databases and monitoring client relationships should be avoided at all costs.

Therefore, it is greatly beneficial for banking institutions to eliminate certain manual processes that may result in these errors. Recent studies have shown that 66% of employees view automation as being instrumental in reducing data errors.

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How To Use Low-Code To Speed Up Innovation In Financial Services

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Financial services form the backbone of the world economy. Most organizations require the assistance of banks to launch and carry on their operations.Ensuring efficiency and accuracy in all operations of finance services hence becomes imperative not just for individuals but for the economy as a whole.

As rapid innovations in digital technology and low-code solutions continue to evolve at an exponential rate, it is crucial for modern businesses to understand the significance of speeding up innovation in various financial services.  It has been proven that organizations that prioritize the acceleration of software development and innovation have been proven to experience significantly higher competitive advantage over their counterparts that don’t.

However, innovation in financial services can be an extremely difficult process due to a lack of financial and human resources, competent digital systems and time. Furthermore, many financial institutions are often so focused on meeting short-term goals that long-term innovation seems impractical and unrealistic. However, low-code technology may be able to help financial institutions speed up innovation in financial services.

A recent study conducted by Microsoft anticipates that 450 million out of the 500 million applications that are expected to be developed and distributed over the course of the next 5 years will be created using low-code platforms. Therefore, the rise of low-code technology presents an extremely valuable opportunity for modern businesses.

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What is a low-code business process management platform?

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Every business depends on a set of repeatable processes that a low-code business process management (BPM) platform can standardize and automate.

Every business depends on a set of broadly similar processes to facilitate the coordination of people and assets to produce information. Digitization is the key to enabling a smooth flow of that information in order to continuously enhance mission-critical operations, and this is where business process management (BPM) comes in.

That said, BPM is a commonly misunderstood term. Despite the widespread misconception, BPM is not a technology itself, but a discipline concerning how businesses analyze, measure, improve, and automate their business processes. Every business department has its own set of processes covering a diverse range of areas from product or service delivery to conducting regulatory compliance checks to handling billing and payments.

While not a technology solution in its own right, efficient BPM does rely heavily on digitization. As such, it often involves the use of intelligent approaches to automate and standardize tasks and workflows. For example, a business-critical process like fulfilling a product order is usually a repeatable and standardized operation, and that means it can be automated with the right software. Read more

What are the three steps of low-code app development?

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Gone are the days when traditional coding was the be-all and end-all of app development. Today, with low-code, anyone can build apps from scratch with just a little coding knowledge.

Low-code is a visual app development technology that uses pre-built modules and drag-and-drop editors to facilitate app development. Low-code reduces the time it takes to develop a platform by letting developers focus on complex coding areas.

Low-code platforms can potentially bring down development times by almost 90%. Low-code also encourages citizen development which is a low-cost alternative to traditional app development.

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How To Solve Technical Debt?

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Technical debt: Part 3

One of the most in-demand commodities today is software. Both businesses and end-consumers seek advanced platforms that can make their lives easier by carrying out various processes. Software vendors and SaaS providers hence are always in a rush to deliver their products on time.

Sometimes, in order to deliver the product within the deadline, the development team fast forwards through certain software development processes. These parts often become the reason for errors and glitches in the final product and require refactoring. Technical debt for a company is all the code they have written that will need future modification.

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How To Avoid Technical Debt

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Technical debt: Part 2

Technical debt is any code written for a product or functionality that is set to require rework and modification in the future. It happens because development teams are forced to expedite deployment owing to strict deadlines and a shortage of resources.

A widespread occurrence in the software development industry, technical debt is seldom welcome by developers or clients. While it isn’t outright harmful, technical debt can cause a lot of problems if not paid on time and efficiently.

Technical debt can prolong building times and can hog the resources that would otherwise go to new projects and innovation. Taking short-cuts during software development results in volatile, often low-quality software. This can also lead to a dip in the brand value of the software vendor or developer. Technical debt can also come when you are not expecting it in the form of an outdated design.

While it may feel like technical debt is omnipresent and undefeatable in the software industry, thankfully, there are various ways through which technical debt can be avoided.

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How iPaaS bridges the gap between low-code and professional development

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How integration platform as a service (iPaaS) offers a comprehensive and standardized way to develop and integrate business-critical applications.

Every business technology system consists of multiple subsystems working together to form a cohesive environment that can handle mission-critical operations and workflows at the speed and agility demanded by today’s market. Running a business also demands the collaboration of people and systems from across a wide range of operations, such as sales, marketing, and customer support. Each of these departments uses different apps and systems, which all need to work together to achieve smooth operations. If they do not, each department will operate in a silo, to the detriment of customer and employee experience alike.

Among the most pervasive challenges facing today’s enterprises is the need to integrate new apps and functions into increasingly complex and disparate technology environments. Further adding to this overarching challenge is the fact that developing and integrating new software is often a lengthy process fraught with myriad difficulties of its own. These include addressing the demands of information governance, security, privacy, and availability, to name a few. This is why organizations need integration platforms to build more efficient and scalable technology systems that can easily adapt to ever-changing business needs.

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