No Code Platforms Gearing Up Business Enterprises For Industrial Revolution 4.0
Industry 4.0 is the stage of development in a business organization where its entire value creation practices adopt digital transformation.
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After the outbreak of the pandemic, every business sector experienced an overhaul of operations and underwent a tremendous digital transformation. Similarly, it presented business enterprises with a myriad of benefits for adopting digital initiatives to improve their productivity, output and supply. According to a media article – due to COVID-19, the manufacturing industry will experience five years of innovation in the next 18 months.
Business enterprises experiencing digital moves have already tested the water of artificial intelligence, IoT – Internet of Things, Data analytics, etc. Undoubtedly, these technologies provide a competitive edge and the zeal to stay ahead in the industry. According to an analysis report of 350 industrial companies, the digital leaders that made investments in automation, e-commerce and other digital areas have already achieved revenues and total returns to shareholders (TRS) that were higher than those of digital laggards. With an increased need for digitally-driven solutions, businesses are adopting flexible and agile approaches to fast-track their path to industry 4.0.
What is industry 4.0?
Industry 4.0 is the stage of development in a business organization where its entire value creation practices adopt digital transformation. It is mainly associated with the manufacturing industry that harnesses the combination of cutting-edge technologies and changes the way old-school manufacturers and enterprises work. As a result, cyber-physical systems enable new ways of production, value creation and real-time optimization of business processes.
With Industry 4.0, business enterprises will be able to monitor and track business processes remotely. This will be enabled by the Industrial Internet of Things – a network of intelligent devices connected to exchange and analyze data. For the rapid creation of softwares and applications, organizations employ their non-technical workforce to use no-code platforms and speed up the development processes.
How no-code platforms are fast-tracking business growth?
No-code platforms are becoming popular as they provide customized solutions to business enterprises. According to market estimates – by 2024, 65 percent of application development for organizations will be done on low / no-code platforms. The companies can attain flexibility, scalability and efficiency without the intervention of highly skilled IT staff or coding and build robust applications in just a few hours. These platforms enable more collaborative application development while facilitating the management of applications 20 times faster than the traditional way of application development.
Usually, the traditional softwares of manufacturing companies or business enterprises are rigid. There are fewer spaces for improvements and involve high costs which makes it difficult for the company to add new functionalities in the existing and matching the dynamic business needs. Furthermore, it is not easy to monitor manufacturing machinery. However, no-code platforms are based on an approach of agility that redefines the way manufacturing companies function. With the development of robust applications, companies set new standards of productivity, performance and efficiency, enabling better distribution of resources. Additionally, no-code platforms eliminate the need to maintain legacy code which simplifies the process of making alterations in the existing application or software.
Business enterprises thrive for agility. No-code platforms are also based on the approach of agility in which innovation is in the hands of people and not systems. Business enterprises can speed up innovation as no-code platforms see individuals over processes and tools. It removes the complexity of programming that also eliminates the chances of human coding errors. As a result, manufacturing industries take great advantage of agile practices to streamline their business, address problems and make faster iterations.
Better Resource Allocation
Several tasks in the manufacturing industry or factories are repetitive. In addition, several tasks such as invoice processing, order management, supply chain management and many more require workers’ manual intervention. However, no code platforms help an organization in freeing up their resources that can be utilized for other productive tasks. These platforms automate rudimentary tasks while making the data accessible and shareable between teams to augment their productivity and performance.
In old-school manufacturing companies, the process to innovate is slower. Given the traditional way of innovation, an idea passes through many hands and has a longer cycle of approvals before it is implemented. On the other hand, no-code platforms enable the team members to quickly communicate ideas, get approvals and bring an idea to life. Through a decentralized development process, no-code platforms remove the barriers that prevent business enterprises from experimenting and rapidly evolving.
Businesses are moving and transforming faster than ever. The traditional way of development does not fit into the present world of business. Considering the rapid development of applications through no-code platforms, business enterprises can build and deliver applications in the quickest time and lowest possible cost.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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