Today’s business world has become very appreciative of agility and efficiency. Companies keep searching for new ways to optimize working processes and intensify the productivity of said processes. One of these ways is low-code development.
This article dives into how low-code development can be helpful in business process automation and the upsurge of process transparency, better guaranteeing business stability and scalability
What is Low-Code?
Low code is an application development approach that speeds up software delivery by minimizing manual coding to the largest extent possible. It leverages visual development tools and pre-built templates to help business owners, process owners, and low-coding professionals develop and deploy applications in no time.
Key Benefits for Low-Code for Businesses
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**Rapid Development & Deployment \ With Low-Code platforms, businesses can build and deploy applications quickly while easily being able to respond to the needs of business for at least better and quicker internal processes.
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**Process Optimization & Automation \ By automating routine tasks and streamlining workflows, companies can enhance efficiency, reduce human error, and free up employees to focus on more strategic work.
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**Increased Business Agility \ The ease and speed of developing applications with low-code platforms allow businesses to experiment with new ideas and strategies without significant investment, fostering innovation and adaptability.
Low-Code in Action: Transforming Internal Processes of Antifraud Team
The anti-fraud process acts as a cornerstone for the identification and mitigation of fraudulent activities among clients, employees, and partners. Its key objective is to decrease material financial loss, improve business operation integrity, and increase efficiency through the detection of fraud schemes, correction of staff errors, and improvement of inner policy
Initially, this had been in place using Excel sheets, and everything was to be manually distributed between the two members, which sufficed for a small team. With the process scope increasing, it was identified that Excel dependence was not enough. However, Excel is limited, and this results in operational inefficiencies, lack of scalability, lower productivity, and more errors. It would make the whole process opaque and cumbersome for onboarding new staff, integrating new features, and being able to experiment easily
To confront these challenges and make the process even on a bigger scale, a more sophisticated approach was necessary. The key objectives were to increase visibility, enable the easy tracking and measuring of the effectiveness of the process, identification of areas for improvement, and make rapid changes associated with business growth and changing requirements. This required transitioning from Excel to a system that would meet these goals much more flexibly.
A low-code platform was able to help them create a new tool, and that is what made the antifraud process significantly more efficient. They have been able to help develop a product with clear processes that have enabled them to extend to about 20 team members. The new system easily identifies and resolves issues, quickly integrates new functionality, and responds agilely to the ever-fluctuating business and market needs
Variants for implementation
What could be used:
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DWH (or another source of business data)— to aggregate all necessary data for task creation and to display information to users;
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N8N — to fetch data from the DWH and automate the task creation process, streamlining operations and ensuring that tasks are generated based on the latest data insights;
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Appsmith — to develop the front-end interface, enabling a user-friendly environment for interaction with the system;
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PostgreSQL — serves as the application’s database, offering a robust and secure environment for storing application data, user decisions, and investigation artifacts.
- The system generates and presents a list of tasks to the fraud team members based on specific triggers automatically
- When a team member decides on a task, there is a display of all necessary pieces of information reflecting on the current status of the case that gives the possibility to make their research. Following this, the user can make informed decisions, saving these along with any evidence or artifacts from their investigation within the tool
- Then, the results are further stored securely and, in an effective way, shared with the related processes that might be impacted by the decisions of the anti-fraud team, and these include accounting, HR, business teams, and others
The whole system, complete with all integrations and testing, can be set up in a matter of weeks, allowing for continuous improvement and adaptation to changing business needs
Considerations
While there are many advantages of low-code development, there are still some things to consider, such as the importance of traditional software development practices like CI/CD, code reviews, functional testing, regression testing, version control, alerting, monitoring, and so on.
However, there are a small number of diverse tools which can fully implement this process. As such, you have to make your own decision for the implementation of these processes. By the way, these processes are very important. Because low-code platforms guarantee fast change and rapid implementation, but this speed could be tricky and can further lead to issues because of a lack of thorough testing or oversight
Conclusion
Low-code development is becoming a game-changer in business for optimizing and automating internal processes
By enabling rapid development, enhancing agility, and reducing costs, low-code platforms are becoming an essential tool in the digital transformation toolkit. However, it is crucial for businesses to carefully evaluate their specific needs, considering the potential challenges and ensuring proper testing and quality assurance and other code development practices are established
The right strategy and tools put in place ensure that the low-code empowers your businesses to innovate and grow
LinkedIn:
https://www.linkedin.com/in/ramiz-zakiev-8b77791a7/