CEOs evidently hold the most important position in an organization, as they take decisions that directly impact organizational performance. They are entrusted to drive growth, innovation, and value for their organization while adapting to shifting market needs and flourishing amongst the competition.
Most CEOs have already understood the importance of digital reinvention, even more so after the pandemic. Almost all of them have brought about some degree of digital transformation in their organization and must be planning to increase the rate of adoption of digital tools and disruptors in the future. Hence, what matters now is the manner in which digital transformation is undertaken, and through which tools. This will inadvertently decide the success of their digital efforts.
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We say this because according to a survey by McKinsey, around 70% of the businesses that exist today will try to implement digital transformation, but only 30% of them will succeed. This difference will boil down to the tools that were chosen to implement digital transformation. In such a scenario, CEOs need to gauge the present and future requirements of the industry and then take a careful decision that enables success.
Digital processes and a rise in remote work environments have led to a sharp increase in the demand for software. IT departments of various organizations are often overburdened, unable to meet the demands expected from them within deadlines. The other option, which is using the expertise of professional coders by outsourcing software development, is quite heavy on pockets. The former option leads to delays, while the latter leads to an increase in expenses. But under no circumstances can the software demands remain unmet, as that would lead to significant losses for any organization and any CEO simply can’t let that happen.
This is exactly where no-code fits in, being one of the most significant digital disruptors. No-code technology allows organizations to build digital solutions fast, without writing a single line of code. No-code has been touted as the next big thing, with Gartner predicting that by 2023, 65% of software development will be done through no-code/low-code. Now let’s take a look at why no-code needs to be an important consideration for CEOs.
CEOs are directly accountable for their organization’s bottom line, and would obviously look for ways to cut down on costs while getting the most out of their investments. No-code eliminates the costs associated with traditional coding and ensures that solutions are created at a fraction of the original cost. In addition to this, no-code also enables Business Process Management for organizations, eliminating their dependence on paper-based and manual processes. Digitized processes have a lower rate of error and significantly higher efficiency, driving profits for the company. Hence, adopting no-code technology is one of the cost-effective decisions any CEO can take.
Enterprise IT projects are known to be very expensive, while still having a significant chance of failure. In fact, McKinsey states that an average large-scale IT project ends up costing around 45% over the budget, shoots up the deadline by 7%, and yet provides only 56% of the planned value. No CEO would like to see such projects end up being a failure, and this is exactly where no-code fits.
By doing away with the hassles associated with traditional coding, no-code technology ensures that the project is done within the stipulated time and budget. In fact, no-code is known to be 10 times faster than traditional development, thereby decreasing the time to go market. CEOs can also prevent any silos due to the collaborative nature of no-code, ensuring the success of their projects.
As the manual processes and redundant tasks are digitized, employees no longer have the burden of doing grunt work. They can put their focus on the satisfying parts of their jobs, instead of spending their efforts on the repetitive bits. This increases their motivation and satisfaction, and also leads to an increase in their quality of work.
In addition to this, the solutions built through no-code also lead to an increase in collaboration and information-sharing throughout the organization. If these factors are combined, any CEO will appreciate the revolution that no-code technology can bring to their organization and adopt the same.
When employees are encouraged to build their own solutions using no-code platforms, they are bound to become innovative and digitally dexterous. If an organization wants to succeed in today’s world, both of these qualities are very important for their employees to have. With the help of no-code platforms, CEOs can usher a wave of creativity, enhanced decision-making, and innovation in their organization.
A lot is demanded from the CEOs of today, considering the growing importance of digital transformation and disruptors. Every digital-first CEO should understand the true potential of a technology like no-code, and leverage it to drive success, motivation, and profitability for their organization.
Quixy is an award-winning no-code platform that has empowered numerous organizations to undergo Business Process Automation without writing a single line of code. With our easy-to-use visual platform, highly functional solutions without any of the hassles that are associated with traditional coding. Our clients (and their CEOs) are a testament to the digital transformation that Quixy can bring about in your organization.
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