Executing on Digital Transformation

In today’s turbulent environment, orgs must act quickly, be resilient, and be change management leaders. Digital transformation isn’t going to wait for things to calm down. 

Strategy’s all well and good, but strategy and execution can be two very different things.

Orgs across all industries had these muscles tested during the COVID pandemic. Think about the supply chain disruptions and the scramble to satisfy customer demands. What does this mean for the future? Mendix commissioned a State of Low-Code survey to answer just that question.

The survey spanned 600 US, UK, and EMEA business leaders across Manufacturing, Financial Services, Insurance, Public Sector/Government, and Retail. The goal? Discover how these industries responded to COVID and how they are changing operating models for the future.

Balancing Agility with Risk

During the pandemic, leaders learned how agile they could be with their tech and processes when needed, but this came with considerable added risk. 79% of organizations chose quick solutions over data security to keep businesses going. Governance and security are critical in the present and the future.

On top of that, the pace of change is increasing. And so is the pace of competition. 87% of respondents are planning to speed up software development in the next two years, so waiting to see how the landscape settles puts lagging orgs way behind (and that’s the best case).

With reported top trends like being able to respond quickly and flexibly, increasing collaboration between business and IT, and accelerating the use of technologies like AI and IoT, it’s clear that orgs around the globe are focusing on speed, innovation, and governance. So what does it all mean? Let’s find out.

Now more than ever, orgs need to be resilient, open, and responsive to market changes. With demands continually increasing from customers, employees, vendors, and regulators, it’s critical to respond quickly to both maximize advantage and manage business risks. What was “business as usual” 5-10 years ago can soon lead to “out of business” moving ahead.

Today’s regulatory environment is more volatile than ever. This puts more pressure on organizations to keep audit trails, and secure and track data accurately and effectively. The number of disparate data sources is a huge liability moving ahead. Remember that 79% of organizations chose quick wins over security during COVID. The key moving ahead isn’t just speed. It’s speed with security and transparency.

When it comes to a successful digital transformation, it can be easy to just focus on reaching the finish line. But the finish line can be a bit of a myth as transformation is really an ongoing process. And with 80% of organizations dealing with a transformation failure in some form or another, orgs need to focus not just on themselves but on reacting to and outpacing competitors. Enterprises that can be nimble and win fast will be in the driver’s seat.

When you combine the above stats, it’s clear that orgs need solutions and platforms that can:

• Enable effective business results

• Provide component-based architecture

• Improve IT & business collaboration

• Work natively on the cloud

• Bring industry-focused knowledge, including kickstarter templates to accelerate solutions

• Delivery ability to manage security and governance

These are all things that low-code platforms do and do well. Plus, there’s a good chance that your competition is already there, with 69% of respondents considering low-code to be a core part of the business.

Low-code usage is up in nearly every sector between 2021 and 2022. With Gartner reporting that 65% of application development activity will be in low-code by 2024, it’s obvious that traditional development is no longer the primary development tool if orgs want to get things done quickly.

Investing in low-code platforms is a strategic decision at this point, with CIOs (47%), CEOs (45%), and COOs (40%) being primary change drivers in their organizations. They see the value in low-code platforms as the best of both worlds:

• Fast, open, and flexible, unlike many COTS (commercial off the shelf) solutions
• Reusable and composable due to modular components (unlike Java and hand coding)

Once you realize how much low code can support your organization’s digital transformation, the next step is looking for the right platform. The Gartner Magic Quadrant is a great place to start.

Today’s organizations and leaders must by ready for nearly anything in the current atmosphere. That includes knowing how to manage risk and having the right people, but it also includes using the right platforms and processes.

Low-code platforms are resilient and flexible enough to handle nearly any business need. Even better, low-code can spark imagination, redefine what’s possible, and help redefine the next waves of digital transformation and innovation.

Ensure that you’re setting your organization up for success by selecting partners and tools that allow for quick deployment and quick pivots for market needs. The future of all industries isn’t in having the most technology; it’s in being able to manage diverse technologies and serve customers in the moment of need.