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Why Is Open-Source The Right Choice For Software Vendors?

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Open-source software is defined as any computer software that enables individual end-users to freely utilize, modify and redistribute its source code. As open-source technology continues to evolve rapidly, many businesses are beginning to adopt the use of open-source platforms in day-to-day business functions. According to Red Hat, 75% of IT leaders stated that open-source software is extremely important.

Open-source software can help software vendors create high-quality, secure software by providing them with a secure and tested code base. Many people collaborate on open-source projects, and that makes the discovery of bugs and errors more efficient. Hence, in most cases, open-source is more secure and reliable than closed-source code.

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Why Software Vendors Should Use An Open-source Low-code Platform To Develop Their Apps

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Digital platforms have provided businesses with a whole new dimension of business expansion opportunities. All of a sudden, a small business startup from a small town can reach the world with a digital platform like a website or mobile application. These platforms have also enabled us to work faster, increasing efficiency and productivity through various automations and processes at the tap of a button.

Accordingly, we use apps all the time. There are millions of apps out there, and yet the growing use-cases of apps still continue to grow. So people now look to low-code development platforms as a way to gain access to services they need most. It’s no wonder why low-code development is now set to become a $39.79 billion industry by the time 2027 rolls in.

But what is low-code development and what are the advantages of using an open-source option? You’ll learn that and more in this article.

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Low-code versus traditional development: A primer for independent software vendors

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Independent software vendors take pride in having talented developers, but that doesn’t mean they can’t benefit from the low-code revolution.

Independent software vendors (ISVs) face constantly increasing pressure to deliver innovative software solutions to their customers in as little time as possible while maintaining the level of quality they expect.

Unfortunately, this also means that even though their solutions may be functionally complete, the speed at which they need to be rolled out usually means making some sacrifices. Often, issues with the underlying code present themselves soon after delivery, necessitating rework. Thus, technical debt remains a serious and growing problem for ISVs faced with ever-growing demand.

Low-code development platforms (LCDPs) offer an increasingly viable alternative to traditional software development thanks to their ease of use and faster delivery times. That said, software vendors often still view low-code with a degree of skepticism, assuming it to be only suitable for small projects and citizen developers.

In reality, nothing could be further from the truth. Low-code is already transforming the world of software development and delivery, with the low-code market size increasing by 22.6% in 2021 alone. Indeed, low-code is fast becoming the new standard in software development to the point it is outpacing traditional software development in many sectors. Already, 84% of enterprises are using low-code to reduce the strain on their IT departments and involve the wider business in the development of mission-critical digital assets.

ISVs need to keep up if they are to remain relevant in the years to come, and the adoption of low-code will undoubtedly prove essential in that endeavor. However, that is not to suggest that traditional software development will become obsolete – after all, low-code is not quite the same as no code. Rather, it presents a compromise between the two, whereby applications can be developed quickly and, in the rare cases where an LCDP cannot accommodate certain advanced use cases, skilled developers can still rely on coding.

In this blog, we will explore the differences, as well as the commonalities, of both low-code and traditional software development and how they concern ISVs wanting to increase their speed to market while continuing to uphold rigid quality control standards.

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What is the difference between SAAS and ISV?

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SaaS (Software as a Service) and ISV (Independent Software Vendor) are both services that enable users to access certain software. However, they are fundamentally different in their function.

An ISV is an organization that creates, publishes, and sells software. They usually use the cloud as a means of delivering this software to the users hence using the SaaS method.

SaaS is the method through which vendors share their products with the market. It is one of the most popular services in the world right now. According to BMC, 99% of the organizations will be using at least one SaaS solution by the end of 2021.

SaaS allows users to access the software via the internet as a service by using a subscription model. It eliminates the need to install and maintain software locally hence liberating the users from managing complex hardware and software.

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The 8 best low-code development platforms for software vendors

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Here are some of the best low-code development platforms for software developers wanting to fuel rapid application modernization and economies of scale.

Independent software vendors (ISVs) face constantly growing technical debt as they struggle to meet the demands of clients seeking to accelerate their own digital transformations. Among the reasons for these challenges is the fact that many ISVs are heavily reliant on underlying technology that is outdated and lacks the agility for developing software applications quickly.

Low-code development platforms (LCDPs) were originally created primarily to meet the needs of citizen developers in enterprises that lacked the in-house expertise needed to build bespoke applications from scratch. However, LCDPs have now evolved to the point where they not only assist with software development, but also transform the entire software delivery process.

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What Are ISV Companies?

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As our modern business landscape continues to become more digital-software focused, the presence of Independent Software Vendors (ISV) is becoming more and more prevalent. An ISV is defined as a company or software publisher that specializes in the creation and distribution of software by licensing agreements with organizations and individual users. However, the ISV retains ownership of all licensed property.

The ISV industry is expected to reach a market value of approximately $408.15 million by 2026. Large organizations such as Microsoft, Apple, IBM, Google, and Oracle that create these platforms provide support and encouragement to ISV companies through specialized ISV partnership programs.

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