Why low-code platforms are better than ERP software?
In ERP software, Our research shows that more than half of medium-sized and large-sized companies will choose a low-code platform for their strategic applications platforms by 2023. This decision was primarily driven by the need to develop complex enterprise solutions faster and more efficiently. It will also make it easier for companies to adapt to market changes, legislative changes, and customer demands.
This trend has been accelerated by COVID’s disruption. Companies without low-code platform systems were unable to quickly and easily adapt their ERP systems to meet remote operations. Companies that had low-code platforms were able to adapt much faster.
According to a survey, almost four-fold of executives believe that low- and non-code development platforms are the most important automation investment. This is up from 10% to 26%.
The industry is forecast to grow at the fastest rate of CAGR over the forecast period. New regulatory rules, improved customer service, and new services are driving low-code platform adoption. Organizations are turning to low-code platforms and services for customer service automation, as customer service is a key element in client acquisition and retention in BFSI markets.
Our case study A solution to fast and efficient loan services is one example of low-code implementation in banking.
Markets say this industry offers new and better financial products and services to increase its company operations. This makes it attractive for low-code platform suppliers who can deliver sophisticated solutions.
Low-code app development, as you can see, is growing in popularity.
We conducted a study on the business value of low-code development with intelligent process automation, an industry leader in Brisk Logic’s 2020 Magic Quadrant Enterprise Low-Code Application Platform. These are the results:
- The payback period for the loan is seven months
- 62-72% faster development lifecycle
- Productivity up 25%
- Productive business process teams are 123% more productive
- Annual revenue of $14.80M or more per organization
- 509% Five-year ROI
Low-code platforms are being used by companies to develop enterprise-grade applications. They offer many advantages over traditional tools and can be quickly produced. Let’s take a look at the many benefits low-code platforms offer.
What is ERP software?
ERP software can be used to help organizations overcome challenges and scale up operations. ERP software allows decision-makers the ability to effectively manage their business, existing resources, and systems. ERP software offers many benefits, including improved business insight, risk mitigation, and minimization, enhanced intra-organizational cooperation, and optimized customer/partner management. However, these benefits come with a cost. Let’s look at the reasons why ERP software may not be the best choice for your company.
1. ERP software can be expensive
ERP software can be very expensive upfront. A single license for ERP software can cost you tens to thousands of dollars. This is just one way ERP software can impact your budget. Every step of the process, from installation to configuration and deployment, involves significant expenditures due to factors such as fees paid to vendors, subject matter experts, labor hours, and other factors.
2. ERP software can be complicated
Most off-the-shelf software is easy to install in just a few clicks. Cloud-based SaaS (software-as-a-service) software is even easier to use.
ERP software is, however, complex and complicated from the beginning. It will take weeks of effort and expense by the vendor to install it at the customer’s place. Training your users can be a tedious and lengthy process after installation. ERP suites don’t come with a lot of intuitive features and require you to learn their technical specifications. The Brisk Logic ERP suite comes with its own programming language, ABAP. It is difficult for employees of an organization, who may not have the necessary technical knowledge, to get up to speed quickly. These technologies are complex and difficult to learn and require months of work from the end users.
3. It is difficult to customize
Each organization has unique requirements for its day-to-day operations. An ERP software suite is limited to generic features. It can be difficult to customize it to meet your specific requirements. Because the ERP’s structure is not easily modifiable, this is why it’s difficult to customize. It requires specialized software architect knowledge, and even then it will take a long while to complete the customization.
4. It is difficult to keep it clean
The ERP suite must be maintained regularly after it is installed. Only trained subject matter specialists can perform this maintenance. These experts are expensive. This process is also time-consuming. The software platform becomes unusable during maintenance. This can lead to the suspension of operations for the entire company. Maintenance of an ERP suite can be a cumbersome task.
5. It is difficult to quickly get a return on your investment
The benefits of ERP software will not be immediately apparent after installation and implementation. You will not see any tangible benefits immediately. It may take several years. Because of the high initial investment and high maintenance costs as well as the training expense, this is a significant disadvantage. ERP software does not offer a good return on investment in a short time.
6. It is difficult to integrate existing systems and third-party ones
Most organizations have a set of first- and third-party systems. These systems will be built upon legacy architecture. ERP software suites can be complicated to integrate with existing systems. An organization that has a well-established system of working will have to deal with the challenge of integrating a new ERP suite with its legacy systems.
ERP software is not the best alternative
We need to look at other options because ERP software is not viable for many organizations. Use low-code platforms such as Brisk Logic.
These platforms have low-code codes:
- Simple and easy to use. Because they are hosted in the cloud, there is no need for installation. You can log in and provide credentials to access them. Low-code platforms offer a simpler way to access and navigate an ERP suite than the more complex installation and navigation.
- High customization: Organizations can quickly build custom apps on low-code platforms. These apps can be created according to the needs of their employees and in a very short time span. ERP software doesn’t require you to hire costly subject matter experts.
- Automated maintenance: Low-code vendors will take care of maintaining your company’s applications. This is a significant cost-savings over maintaining an ERP software suite yourself.
- Affordable: Users only pay for what they use. This is a far more affordable price per user than ERP software licenses.
- Rapid ROI: Applications developed using a low-code platform are easily deployed within days. You can quickly realize the return on your investment.
- easy to integrate legacy and modern systems. Low-code platforms are easily integrated with existing or new systems.
Low-code platforms have the advantage of being low-code and the trade-offs that come with running an ERP suite. This makes them the best choice for most organizations. Don’t worry if your ERP suite is already in use. Migration to Brisk Logic Creator is quick and simple. There are many benefits. You can reap the benefits quickly by taking the plunge.