Introduction
In today’s fast-paced and competitive business landscape, the significance of faster time-to-market cannot be overstated. It is the key to staying ahead of the curve, capturing market share, and meeting the ever-evolving demands of consumers. It means delivering your product to customers quicker than your competitors, ensuring that you are the first to meet their needs and desires. Time-to-market refers to the duration from the conception of an idea to the completion of a product, which could be a tangible product, a website, or a mobile application.
It calls for an effective go-to-market strategy, considering the ability to respond swiftly to market trends to gain a competitive edge and foster brand loyalty. Thus, it’s understandable that it has emerged quickly as a necessity in the modern business world.
Why speed to market matters: Exploring the essentials
Rapid product development provides a competitive edge and enhances your grasp of manufacturing timelines. Efficient time management and overseeing all development phases directly contribute to the enhancement of your marketing strategy. A speedy and well-organized time-to-market can be a pivotal determinant of your success.
As per a finding by Accenture, companies that harness technology more efficiently tend to achieve tremendous success in reducing their time to market. Over the period from 2016 to 2021, the utilization of technology increased by 30-81%, enabling enterprises to trim down their timeline from 56 to 42 weeks. They plan to further reduce this to 29 weeks within the next five years.
Moreover, your team will gain better clarity regarding their tasks and schedules. This clarity will enhance performance, eliminate redundant efforts, and sharpen focus on critical objectives. A swift and well-structured workflow will boost your profit margins and mitigate the risk of delayed releases.
Unlocking rapid success: Enterprise Low-code turbocharges time-to-market
Though groundbreaking, low-code is far from being a new concept in computing. In terms of software technology, low-code represents an inventive method of software development, emphasizing minimal manual coding. It leans on the visual creation of applications using a user-friendly, graphical interface, thus leading to a substantial reduction in time-to-market, with the entire process, from conception to deployment, being shortened from several months to just weeks.
Let’s look at how enterprise low-code is revolutionizing time-to-market for organizations:
Low-code is for all:
You don’t need a Master’s degree in computer science to make decisions in low-code programming. Adopting low-code expedites time-to-market by enabling all team members to actively engage in application design, regardless of their coding proficiency. The easy-to-use interface and user-friendly design of low-code platforms simplify the entire process.
Rapid implementation of customer feedback:
Customer feedback is an invaluable asset for businesses of all types. Hence, when you receive feedback, the smartest move is to listen and respond promptly. With the aid of a low-code platform, implementing changes can be swiftly accomplished, reducing the dependency on the IT department.
Simplified Testing Process:
Testing new concepts can take up a significant portion of the development timeline, thus impeding the time-to-market. Effective testing cannot be rushed, which might lead to delays and increased costs for businesses. With low-code, unit testing is significantly expedited. It is because all the testing is conducted in advance, as low-code platforms provide pre-built modules with all the necessary functionalities already in place.
Modular solutions facilitate incremental advancement:
Enhancing the features of a website or application becomes a more straightforward process with low-code. Its modular structure supports gradual expansion and development and adding new functionalities without impacting the primary website or application or affecting the time-to-market. While the core business operations continue seamlessly, various departments can collaborate on the expansion without interrupting the daily operations.
Demystifying Low-code excellence: Core functions unveiled
A low-code Center of Excellence is a hub of a diverse and knowledgeable team of experts within the organization. Its primary mission is to establish best practices that the entire team can adopt, facilitating the creation of applications using low-code development techniques. The low-code Center of Excellence plays a vital support role, with the overarching goal of enhancing the productivity of developers, professionals, or citizens, all while upholding consistent governance standards.
Building a low-code Center of Excellence enables organizations to take a moment to breathe and ensure the continued realization of their digital objectives. The low-code Center of Excellence core team typically includes members specializing in adoption, strategic planning, governance, operations, and support.
Mastering Low-code: The need for a center of excellence
According to a report from Forrester, nearly 93% of low-code users have experienced positive outcomes, with 26% achieving substantial improvements and 67% reporting moderate enhancements in meeting their business’s expectations for project timelines and budgets.
Below are some compelling factors illustrating the necessity for a dedicated Center of Excellence (CoE) in the realm of enterprise low-code adoption:
Governance and Standardization –
A low-code CoE would introduce the essential elements of standardization, methodologies, security, and governance.
Widespread Utilization –
A low-code CoE would ignite internal enthusiasm for Application Development and Delivery (AD&D).
Pioneering Innovation –
It encourages innovation by exploring cutting-edge concepts like Artificial Intelligence, Machine Learning, Analytics, and more, seamlessly integrating them into your in-house applications.
Accelerated Time to Market –
The low-code Center of Excellence expedites this process by experimenting with and assessing Minimum Viable Products (MVPs), swiftly launching them to a broader audience.
Empowering Citizen Development –
A prevalent challenge in traditional enterprise software development was the difficulty in meeting the business’s expectations regarding cost and timeline.
To Summarize
The time to market stands as the pivotal stage in product development. It’s the juncture where you conceive ideas, formulate your strategy, optimize workflows, and implement project management. This is where Conneqt Digital comes with an efficient low-code Center of Excellence equipped with a team that has years of domain expertise.
Conneqt with us to learn more about our low-code CoE and how we can drive your business to the next level.
