Low-code/no-code can help you weather a recession by accelerating digital transformation, helping you do more with less, automating processes, and speeding time to market for new products and services.
With inflation still not tamed, the Russian invasion of Ukraine still raging, continuing supply-chain woes, and a highly charged election looming, many financial professionals expect we’ll soon be in the midst of a recession. This week the American Institute for Economic Research published an article showing evidence that the next U.S. recession has already begun.
Recessions and slowdowns mean it’s no longer business as usual – companies often need to reduce spending, slow hiring and possibly lay off staff, and generally hunker down until financial conditions improve.
While most organizations turn to marketing and HR to cut costs in these times, innovative software should be the first step. Low-code/no-code software can help businesses weather recessions and even help organizations thrive during periods of uncertainty. Here are four ways low-code/no-code can help your organization during economic turndowns.
How Low-Code Apps Help Companies During Economic Downturns
#1 Streamlining Daily Work Routines (Digital Transformation)
I’ve frequently written about how digital transformation can improve user experiences, streamline operations, and increase productivity by transforming manual processes into digital ones. A digitally transformed company is agile, efficient, and able to weather economic downturns. They often save on printing costs, unnecessary staff, and duplicate processes. In addition, they can optimize materials usage and inventory, improve product quality, and raise customer satisfaction levels. Low-code/no-code software solutions are critical to digital transformation. They speed up app development, improves productivity, and allow citizen developers to transform your company from the ground up.
For more details, see “Speed Digital Transformation: Enable Business Users to Create Applications.”
#2 Reduce Development Costs
In bad economic times, companies need to tighten their belts. At the same time, if businesses don’t build apps and use technology to improve productivity, they’ll be hurt and possibly not even survive a recession. Low-code/no-code solves the problem. You won't need a developer-heavy staff when you use the platforms. Citizen developers can do the heavy lifting and write robust apps.
The result is an increase in powerful business apps without having to add to your development staff.
#3 Automate, Automate, Automate
Low-code/no-code lets you automate inefficient tasks and workflows. Rather than being weighed down with expensive, time-consuming manual processes, you can write apps such as digital forms that smooth out workflow kinks. By automating, you can save employees time everyday, allowing them to do more high-value work for the company. This could greatly help those organizations who must freeze hiring during recessions.
The result is decreased costs, improved productivity, and fewer data errors -- all proven recession helpers.
#4 Speed Time to Market
When economic times are hard, companies must add new sources of revenue. With low-code/no-code, you can speed up the time it takes to market new products and services because you’ll speed the development of apps to build, inspect or launch these products. Because these apps can be built quickly, you can also better take advantage of seasonal or competitive opportunities without a lot of planning or expense.
The result: new sources of revenue to help you through the bad times and to fatten your bottom line even more in the good times.
The Best Low-Code/No-Code Solutions
Alpha Software helps organizations leverage low-code/no-code software to weather economic hard times. The company's low-code software allows developers to produce complex apps at breakneck pace. (Developers can build apps for free.) The Company's no-code app builder enables end-users who have never coded to build solutions that can collect, analyze and act on critical business data. And for companies that don't have the resources to build their own apps, Alpha Software will build these solutions for you.
The software and solutions is highly flexible, allowing users to work at their skill level -- from creating basic apps to developing highly complex and sophisticated systems. With Alpha Software, apps never hit limit because the platform has the power to go to the next level of complexity. And workers also won't hit limits becuase the apps can work with or without a connection - meaning your employees are always productive.
Book a meeting with us around your schedule. In 10 minutes, our solution expert will assess your needs and help determine if we're a fit for your organization.
Comment