Organizations are increasingly turning to low-code platforms to accelerate application development. Low-code platforms provide a visual drag-and-drop approach to building applications, which can be deployed faster and with less code than traditional hand-coding methods. For many organizations, the ROI of low-code is clear: faster time to market, reduced development costs, and improved efficiency and productivity.
But how exactly do you measure the ROI of low-code? In this article, we’ll explore some key metrics you can use to track the success of your low-code initiative.
There are several key metrics you can use to measure the ROI of low-code:
1. Time to market:
Low-code platforms can help you rapidly develop and deploy applications, often in weeks or months rather than the traditional development timeline of years. Measuring the time to market for low-code applications can give you a sense of how quickly your organization is able to turn ideas into reality.
2. Cost savings:
Low-code platforms can help you save on development costs by eliminating the need for costly hand-coding. By compare the cost of developing low-code applications with the cost of traditional hand-coding methods, you can get a sense of the cost savings achieved through low-code.
3. Efficiency and productivity:
Low-code platforms can improve your organization’s efficiency and productivity by allowing non-technical users to build applications without needing to code. You can measure the efficiency and productivity of your low-code initiative by tracking how many applications are built using low-code, and how quickly they’re built.
4. User satisfaction:
Low-code platforms can improve user satisfaction by providing a more intuitive way to build applications. You can measure user satisfaction by surveying users of low-code applications, and by tracking application usage metrics such as number of active users and time spent using the application.
5. Business value:
Ultimately, the goal of any application development initiative is to generate business value. This can be measured in terms of increased revenue, reduced costs, or improved operational efficiency. By tracking business value metrics such as these, you can get a sense of how successful your low-code initiative is in achieving its goals.
How to Measure ROI
There are a number of different ways you can measure the ROI of low-code. One approach is to track the metrics described above over time, and compare the results with those achieved through traditional hand-coding methods. Another approach is to conduct a cost-benefit analysis, which compares the benefits of low-code (such as faster time to market and reduced development costs) with the costs of implementing a low-code solution (such as licenses, hardware, and training).
Whichever approach you choose, it’s important to establish a baseline before you start using low-code. This will give you a point of comparison against which you can measure the success of your low-code initiative.
Cyberium Low-code platforms offer a number of benefits for organizations, including faster time to market, reduced development costs, and improved efficiency and productivity. By tracking key metrics such as these, you can measure the ROI of your low-code initiative and ensure that it is delivering value to your organization.
Low code platforms provide an excellent return on investment by reducing the amount of time needed to bring an application to market. As the applications are built using a visual approach, there is no need for specialized coding skills which can save considerable money