The arrival of a global pandemic early in 2020 turned the strong but gentle tides of corporate digital adoption over the last decade into rip-tides almost overnight. Organic, multi-year digitisation plans were shipwrecked by tidal waves of demand for online sales, service and supply chain management that made entire industries scrabble for survival.
Long-term, steadily planned corporate objectives underpinning digital acceleration - such as the drive for greater digital efficiency to increase growth and profit - became submerged by an astonishing acceleration of consumer demand for companies to serve them via a channel that suits them better. .
The need for digital had remained on a steady course in the boardroom until customers accelerated their own expectations and behaviours in response to a sharpened need to shop, interact, manage and communicate primarily via smartphones and laptops.
In 2021, the tides of digital acceleration have now combined and compounded into a massive force for change. Let's look at four of these tidal forces and why no-code technology has become one of the primary solutions.
Tide Wave 1: A changed labour and consumer market
The workforce is now made up of 35% Millennials and set to become 75% by 2025 according to Microsoft. Generation Z already make up 24% of the workforce. This means that digital natives - those who have only known a digital world - now account for a vast proportion of employees as well as consumers. The expectation for digital experiences, digital applications, online capability, and mobile applications is already at a high tide mark and is only going to get higher.
The demands of staff as well as those they serve need to be met by mobile-enabled and mobile-first experiences where everyone can operate at times and through channels that suit them. Within companies of all sizes, agility is necessary to meet needs that can change overnight. Digital native workforce's and their customers will not be satisfied by IT development whose time frames are in years and budgets of eight figures. They want something more, they want it now, and they may want something more straight after that.
Tidal Wave 2: Surging digital demand
In 2020, Microsoft reported that they expect 500 million new applications will be built in the next five years - more than the last 40 years combined. Demand for mobile apps and capabilities is growing five times faster than IT departments can deliver.The tools we used for the last 40 years are not going to be the same tools that work for us over the next 5 years.
Add to this the need for companies to pivot on a sixpence to external events, demand change, remote working, increased regulation and new reporting standards. Traditional IT models work with extended plan and execute models and huge budgets. Neither works for post-2020 demands.
Tidal Wave 3: Not enough developers
In 2019, more developer positions were hired OUTSIDE of technology industries such as energy, retail, healthcare. Everyone is struggling to hire the quality development resource needed, and demand for digital continues to outstrip the pace in which organisations can digitise their operations.
IT departments are at capacity and we need a new tool to deliver on what our customers are demanding from us.
You can already see the compounding impact of the first three waves – but here’s the catalyst.
Wave 4: No-code and the development revolution
The sudden and dramatic impact of the Coronavirus caused waves to flood over corporate ships that were already taking on water. Overnight, many needed to adapt digitally to operate whilst stripping out unnecessary cost. This exposed the deepest flows in traditional big digital transformation projects: too long to deploy and too expensive... Not to mention inflexible and not guaranteed to be customer centric.
In this environment, no-code technology opens the door to business practitioners on the front line - rather than developers and IT consultants - building efficient systems and processes quickly.
No-code takes the complexity of development and removes it. It uses Lego bricks of pre-assembled code that can be built into configurations that will work. A claims agent who can use PowerPoint or Excel can create consumer-facing no-code processes. This seismic shift has caused no-code technology to start to flood into traditional industry models.
No-code is disrupting legacy systems because it slashes costs, timescales and empowers the business to control its own destiny rather than mortgaging it to IT priority queues.
For insurers, cost optimisation and customer-centric engagement are two tug boats needed to tackle the changing tides. Typically the system changes needed for both are anchored in huge expense. Today, some of the world's largest insurers have turned to no-code technology to deliver both while also reducing costs. With this shift, they gain the unrivalled flexibility and agility that are the natural by-products of no-code.
360Globalnet clients are already achieving fully digital and automated end-to-end claims, leaving the specialists to get involved in the more complex claims and offer empathy where needed. Monotonous tasks are removed leaving the very people who had to grin and bear them before to add value and drive efficiency into the business.
If you’d like to find out more about how we can help you future-proof your claims operations, drive down costs and increase customer satisfaction, get it touch today.