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Read Our eBook: The Long-Term Benefits of No-Code
By speeding development 3x or more, no-code helps incumbents catch up with digital leaders, adapt quickly to change, and deliver value over the long term.
“Every business is a software business,” declared tech pioneer Watts S. Humphrey two decades ago. Each year, CEOs repeat Humphrey’s adage. And each year, as software winds its way deeper into every function of the business, it becomes more true. To deliver value, organizations must therefore commit to delivering new digital services to customers, employees, and partners—not just today, but over the long term.
If you have any doubts, consider the top-five largest global companies. Between 2010 and 2020, Amazon, Alphabet, and Facebook knocked behemoths Exxon, PetroChina, and ICB from the list. All three newcomers were digital-first enterprises. They captured markets early, and then continued to innovate relentlessly. The two survivors—tech giants Apple and Microsoft—stayed at the top by using deep pockets to fund similarly aggressive digital transformations, year after year.
On the other hand, incumbent enterprises, especially those in compliance-heavy sectors like financial services, healthcare, and government, have found themselves unable to keep up. Many factors contribute to their slow adoption of digital services. Their tech stacks are an increasingly complex hodgepodge of legacy systems that have stymied integration. The risk of non-compliance also slows innovation. And digital transformation is a risky affair—consider that some 85% of custom software development projects went over schedule and 70% of large-scale initiatives failed to reach their stated goals.
Digital transformation can never be seen as a one-and-done occurrence. The constant emergence of new technologies, business models, and competitive threats requires constant innovation. If, for example, virtual reality suddenly becomes the next must-have six months from now, slow-moving incumbents will fall even further behind.
And falling behind is particularly perilous these days. Digital leaders are snatching an ever-larger share of the markets in which they operate. That leaves laggards to battle each other for an ever-smaller piece of the pie. According to a recent BCG study of the telco industry, digital leaders increased market share by an average of 7% between 2012 to 2017, while laggards saw their market share drop 11%. “Digital’s continued contribution to company performance means that gap will likely grow,” conclude BCG analysts. And no industry is immune. This principle “holds true across a wide range of industries,” they write.
Fortunately, the advent of no-code is changing the economics of digital innovation. With the right no-code platform, incumbent organizations can quickly catch up with digital startups—and keep innovating over the long term. Development with the Unqork’s no-code platform, for example, is “a minimum of three times faster and three times less expensive” than the company's previous approach, says James McGlennon, CIO of Liberty Mutual.
No-code makes this possible with an all-visual building environment. Even less experienced developers can create new custom digital services quickly and easily. And with a fully configurable visual interface and modern APIs, developers—Unqork calls them Creators—can connect user-facing services with backend applications and third-party systems.
As the world’s first true enterprise no-code solution, Unqork also embeds enterprise-grade security and compliance deep in the DNA of each new digital offering. As a result, even organizations in compliance-heavy sectors can dramatically speed development.
In short, no-code is driving down the cost of digital innovation. And not just for a one-off project. Incumbents that catch the wave will quickly find themselves within striking distance of digital attackers. For this reason, Forrester expects the market for platforms like Unqork to grow at 40% a year, reaching $21.2 billion by 2022.
The ways to grow value through digital innovation are endless, vary from industry to industry, and are sure to evolve as disruptive new technologies and trends emerge. But when you are able to quickly and cost-effectively develop new digital services, change becomes an ally rather than a foe. With that in mind, let’s consider seven ways no-code helps future-proof your organization, so you can deliver long-term value.