White Paper:

Top 10 ways to boost

your bottom line with
low-code/no-code
technology
Date:
March, 2019

About Coactive

Coactive builds innovative and intelligent business applications on our proprietary software development
platform using rapid application development workflows and technology.

www.gocoactive.com
White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

Summary
In this white paper, we look at why industry experts believe it’s crucial that companies – whatever their sector,
size or customer base – act now to embed digital technologies in their day-to-day operations. We also explore
how the rapid growth of low-code/no-code platforms is proving a lifeline for companies looking to make that
transition. And we highlight the 10 key ways technology can positively impact balance sheets from reducing IT
costs to identifying new markets for growth.

Unfamiliar with some of the digital terminology? Wherever a phrase appears in quotation marks in the text,
you’ll find it defined in the Jargon buster section at the end of this report.

Why is it critical that companies embrace the unnecessary commitment. And, there’s no doubt that
digital trend? the process takes time, investment and patience.

Read any business blog or listen to any technology
expert and one message comes across loud and clear
– operating digitally is the only way companies will be
able to stay relevant in the years ahead. Importantly,
a number of business leaders believe that those
unwilling to embark on a “digital transformation” are
unlikely to survive the coming 5-10 years.
For businesses developed before the recent digital
age, that means swapping in-house spreadsheets,
legacy databases and standalone systems for cloud
technology and sustainable, smart software such
as “apps”, that not only manage data but provide
essential insights to help grow customer bases and
profits.
“However, ultimately, it’s the businesses that adapt
and adopt that are reaping the rewards in today’s
business landscape. In other words, going digital isn’t
really an option. It’s a necessity.”
O’Brien adds: “Often businesses are quick to blame
their lack of familiarity with technology or current IT
systems as the barrier to moving forward with digital.
But, what is costlier? Upgrading your current process
and knowledge base, or potentially going out of
business?”
#1: IDC digital transformation prediction

In her online post, What’s the cost of not going digital
for a business?,1 content marketing executive
Clodagh O’Brien notes: “For some companies, digital
transformation may be seen as a costly and
In this white paper, we look at why industry
experts believe it’s crucial that companies –
whatever their sector, “By 2020, at least 55%
of organizations will be digitally determined,
transforming markets and reimagining the
future through new business models and
digitally enabled products and services.”
Source: International Data Corporation (IDC)2

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

It’s a view borne out by the 2018 results of the annual For the first time in four years, they also observed an
digital business survey conducted by MIT Sloan upward shift in the way survey respondents evaluate
Management Review and Deloitte.3 In the fall of 2017, their company’s digital maturity (see figure 1).
they surveyed more than 4,300 business executives,
managers, and analysts from organizations of various
sizes, industries and geographic locations. They found
that nearly all contemporary businesses share two
common goals:

»» To adapt to increasingly digital market

environments

»» To take advantage of digital technologies to

improve operations and drive new customer value

Figure 1: Survey respondents were asked to “ imagine an ideal organization utilizing digital technologies and capabilities to improve processes,
engage talent across the organization, and drive new value-generating business models” and rate their company against that ideal on a scale of
1-10. Each answer was then assigned to one of three maturity categories – early (1-3), developing (4-6), or maturing (7-10).

Source: Deloitte Insights.3

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology
The survey report notes: “Many established
companies are beginning to take digital disruption
more seriously and respond. If companies were
waiting for competitors to act before responding, this
shift suggests the time to act is now.”
In O’Brien’s post, she outlines several key reasons why
companies simply can’t afford to ignore the digital
trend.1 For example, it will play an important role in
helping them:
1. Remain relevant: Without a digital presence, it’s
very difficult for a company to make its voice stand
out in a crowded marketplace or even develop and
promote USPs.
2. Stay competitive: When new companies come in
and disrupt an industry, keeping up is crucial, and
digital capabilities are the best way to stay agile
(think Blockbuster and Netflix…).  often have more data and resources available to
3. Collect key analytics: Consumer data allows
companies to use hard facts to confirm ideas about
what customers want. They can tailor content, engage
on the platforms that matter to customers, and adjust
strategy as they continue to learn.
4. Retain, and even grow market share: O’Brien
points to the case of Borders, a once thriving book,
magazine, and music retailer. The company’s inability
to adapt to a digital marketplace cost them market
share, and eventually their operation.  Data Corporation)7 reported that online social
5. Keep and attract suitable employees: Millennials
(those born between 1981 and 1996) are currently
the largest demographic in the workforce. They will
be followed by Generation Z (born between the
mid-1990s and early 2000s). For both these groups,
working with digital technologies is an expectation.
Within a few years, Generation Alpha (those born
between 2010 and 2030) will arrive on the scene, a
group that has never experienced a world without
tablets, smartphones and social media. And, if
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futurist and demographer Mark McCrindle is correct,
it will become the “most transformative generation
ever”.4 Offering an environment attractive to Gen A
employees will be critical to securing a company’s
future success.
In addition, the “gig economy” is continuing to grow
rapidly – according to a 2017 CNN Business post, 43%
of American workers will be operating as independent
contractors by 2020.5 Hiring gig workers is only
possible with the right digital infrastructure in place.
Leverage social selling opportunities: Social
networks play a pivotal role in the B2C market:
studies show that consumers regularly look to
social media influencers and the online activity of
friends and family when deciding what to buy. As
change evangelist Brian Fanzo remarked in a 2016
interview for Digitalist Magazine: “Customers today
them than the businesses trying to sell [to] them….
digital communities and content often influence
the customers’ buying decisions before a brand or
salesperson has first contact.”6 And when it comes to
customer service, many consumers prefer the 24/7
options offered by companies’ Twitter and Facebook
accounts.
This B2C trend has driven a corresponding shift in
the B2B market. A white paper by IDC (International
networks are now a key part of the purchase process
for 84% of senior B2B buyers. But if B2B companies
want to provide the high level of interaction and
responsiveness their customers now expect, digital
support is essential.
6. Gain a learning advantage: Through testing and
learning, early adopters of technology can get better
insights than their competitors, and update products
and policies faster. This offers valuable opportunities
to improve customer engagement and experience.
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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology
In addition, there is the very fundamental need
to provide customers with what they want, and,
these days, what they want is to communicate with
businesses digitally, according to Dan Newman,
co-CEO of VB3 and founder of the Broadside Media
Group: “In some cases people would prefer not
to engage a brand at all except for using digital
channels. This means companies need to not only
understand how their consumers want to buy but also
create touch points that support this desired buying
journey.”6
Generally, larger companies have already begun to
adopt a digital approach, but, as we’ve seen, it will
be crucial for all businesses, no matter their size or
market share, to embrace the digital trend. These
new technologies, and the data they allow a company
to gather, can positively influence relationships with
both customers and employees.
As Ursula Ringham, Director of Digital Marketing at
SAP, noted in 2016: “Having a mobile app could, for
example, persuade millennial customers to buy from
a local shop instead of from a global retailer that
delivers. Cloud-based tools might provide efficiencies
that enable a small contractor to price its services
competitively against larger competitors.”6
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Another benefit is the ability offered by analytics
tools to track and understand the impact of existing
and new initiatives. Over time, that means businesses’
running costs will go down as they can prioritize
activities that are delivering a good return. As well
as informing decision-making, digitalization can
make companies more efficient, help them increase
customer satisfaction and, crucially, improve
profitability.
As Kevin Beasley, CIO of VAI, remarked in a 2018
Business 2 Community post: “The fact is the world
is going digital, and businesses that adopt new
technologies will be more prepared for future
innovations.”8 He went on to note that if companies
act now, they can still afford to walk, not run. “…
it’s a marathon not a sprint. Digital transformation
can involve a few phases over several years, making
budgeting easier to manage.”8
#2: IDC’s digital transformation predictions
“By 2020, 30% of G2000 companies will have
allocated capital budget equal to at least 10%
of revenue to fuel their digital strategies.”2
Source: International Data Corporation (IDC)2
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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology
Digital transformation – what does it mean?
As with many of the terms that have emerged in
response to the technological advances refashioning
our daily lives, pinning down an exact definition
of digital transformation isn’t easy. According to
McKinsey & Co: “For some executives, it’s about
technology. For others, digital is a new way of
engaging with customers. And for others still, it
represents an entirely new way of doing business.
It’s tempting to look for simple definitions, but to
be meaningful and sustainable, we believe that
digital should be seen less as a thing and more a way
of doing things.”9
McKinsey & Co has isolated three key attributes
required for a successful digital journey:9
»» Creating value at the new frontiers of the
business world: Essentially, being open to re-
examining the entire way business has been
done to date and understanding where the new
frontiers of value are. For some companies, this
might be about developing new businesses in
neighboring categories; for others, it could involve
identifying and pursuing new value opportunities
in existing sectors. “At the same time, being
digital means …. understanding how customer
behaviors and expectations are developing inside
and outside your business, as well as outside your
sector, which is crucial to getting ahead of trends
that can deliver or destroy value.” »»
»» Creating value in the processes that execute
a vision of customer experiences: This centers
on understanding each step of a customer’s
purchasing journey, whatever the channel, and
considering how digital capabilities can design
and deliver the best possible experience. “For
example, the supply chain is critical to developing
the flexibility, efficiency, and speed to deliver the
right product efficiently in a way the customer
wants. By the same token, data and metrics can
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focus on delivering insights about customers
that in turn drive marketing and sales decisions.”
For McKinsey & Co, digital isn’t just about a
single customer journey, but an experience that
continues to evolve based on input received
from the customer. To achieve this, requires four
company capabilities:
• Proactive decision making: This should
be based on intelligence gathered –
remembering customer preferences is a basic
example.
• Contextual interactivity: Analyzing how a
consumer is interacting with a brand and
making modifications, e.g. adapting the
content and experience as a customer shifts
from a mobile phone to a laptop.
• Real-time automation: For example, increasing
self-service options to help resolve problems
quickly, personalizing communications to
be more relevant, and delivering consistent
customer journeys no matter the channel,
time, or device.
• Journey-focused innovation: Companies
can expand customer journeys into new
businesses and services that extend the
relationship… ideally to the benefit of both
parties.
Building foundational capabilities that support
the entire structure: In other words, the
technological and organizational processes
that allow an enterprise to be agile and fast.
This includes the mind-set of the company (the
willingness to flatten hierarchies and encourage
cross-functional collaboration) and developing
the right systems and data architecture to iterate
on software quickly.
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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology
For change evangelist Brian Fanzo: “Digital is
transforming everything: what our offices look like,
how we reach our current customers, and where
and who we are able to hire…. Understanding the
tools and technologies is essential, but the key
is prioritizing what makes most sense for current
business goals rather than embracing technology or
big data just because they have access to it.”6
For some, digital transformation goes hand in hand
with the “experience economy”, as Brian Moran, of
Brian Moran & Associates, a firm dedicated to helping
small business owners and entrepreneurs, explains:
“A good example is Starbucks. They took coffee, which
people would normally buy “to go,” and used free
Wi-Fi to create an in-store experience for customers.
Starbucks gathers information on their customers
who use the company’s mobile app to order and pay
for their drinks. And customers can order their venti
skinny vanilla lattes on the app, pay for them with
a stored credit card, and have the drinks waiting for
them. All they have to do is walk in, sit down, and
open up their laptops.”6
The digital explosion demystified
One of the key developments driving the need for
digital transformation is the rapidly growing “Internet
of Things” (IoT), also referred to as the Internet of
Everything. This interconnectedness of devices and
objects – and even people – along with the large
volume of data that the IoT generates, has created
the demand for technology that can collect, store and
analyze that data digitally.
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As Beasley noted in his 2018 post: “Through sensors,
the inner workings of systems can be turned
into massive amounts of data points that can be
measured, linking the physical and digital worlds.
Businesses can use this data to learn about the
environment in which they operate, which can be
turned into actionable insights. IoT enables devices
to effectively communicate with each other, leading
to improved decision making, increased productivity,
more efficiency, better inventory management and
more.”8
The IoT is already delivering dramatic change across
a range of industries. For example, in manufacturing
(where it is often referred to as the Industrial
Internet of Things, or IIoT) it has remodelled the
majority of workflows; on the production line alone,
it has created the opportunity to optimize flow,
eliminate waste and avoid unnecessary work in
process inventory.10 In health care, smart devices
now monitor conditions like diabetes or asthma in
outpatients and then digitally transfer the collected
data directly to the patient’s physician. In hospitals,
both patient welfare and equipment performance can
be monitored online.11 While in the logistics industry,
the use of sensors, big data, and analytics has
enabled companies to improve the efficiency of their
supply-chain operations.9
#3: IDC’s digital transformation predictions
“By 2023, 95% of entities will have
incorporated new digital KPI sets — focusing
on product/service innovation rates, data
capitalization, and employee experience — to
navigate the digital economy.”2
Source: International Data Corporation (IDC)2
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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

While the “big data” generated by the IoT and other technologies can offer valuable insights to
guide future strategy, it also brings its own complexities and challenges. Industry experts have
identified these as the ‘V’s’ of big data and, depending on which source you consult, they vary in
number. IBM has narrowed them down to four key V’s, illustrated in figure 2. These are:12

Volume: Scale of data

Variety: The many different forms of data

Veracity: The uncertainty of data

Velocity: Analysis of streaming data

Other V’s include variability (its meaning can change), visualization (finding ways to share it
visually makes it easier to understand) and value – this is what every company wants to achieve;
once the money and time has been invested in overcoming the other V’s, businesses want that
data to deliver insights.

Figure 2: An infographic illustrating the four V’s of big data.

Source: IBM.

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology
What does it take to deliver a successful
digital transformation?
A number of studies have examined the steps
required to achieve digitalization – the key actions
and skills identified include:
»» Moving beyond acknowledging that change is
required – for digital transformation to succeed
it needs to be embedded in company practices,
cultures and processes.1
»» Developing a growth mindset. According to
research psychologist Carol Dweck, digital
disruption is actually comprised of many little
disruptions that unfold over time and interact in
unexpected ways. A growth mindset is important
for both individuals and organizations if they are
to learn how to adapt.13
»» Being aware of what direct competitors are doing
and which innovations are working for them.
»» A willingness to take risks and experiment…. and
deal with failure.3
According to the MIT Sloan Management Review/
Deloitte study, that last point has a close relationship
with buying and implementing the right technology.
“Companies with abundant resources may be
tempted to just “throw money at the problem” of
digital disruption, but that doesn’t generally lead to
continuous and actionable learning in the way that
experimentation does.”3
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Low-code/no-code – customized digital
solutions at an affordable price
One avenue that ensures companies don’t have to
pour money (or valuable resources) into a digital
transformation is the “low-code”/”no-code” market,
which has been growing rapidly over the past years.
According to Forrester Research, the low-code market
alone is likely to reach $15.4 billion by 2020.14
While it is proving popular among businesses of all
sizes, for small to medium companies, in particular,
it offers a valuable third route: Before low-code/
no-code, SMEs often faced a stark choice – buy an
off-the-shelf product which might not fully answer
their requirements, or invest heavily in a customized
solution. The emergence of low-code/no-code
platforms has put tailored solutions within the reach
of any company. Currently, an off-the-shelf, cloud-
based solution, before any customization, could
cost somewhere in the region of $25,000 - $75,000
for a small to medium business with up to 10 users.
Increase the number of users to 100+, and the price
rises to between $250,000 - $350,000. Whereas at
Coactive, for example, fully-customized solutions
range in price from $40,000 - $250,000 and above
(final price is dependent on user numbers, modules,
complexities, etc.), making the two options very
comparable.15 Low-code/no-code platforms are also
perfectly placed to meet the tactical approach that
many smaller companies prefer when it comes to
“enterprise resource planning” (ERP), according to
Panorama Consulting Solutions. The 2018 edition
of the company’s annual ERP report16 states that
while larger companies tend to look for more
robust solutions that can continue to scale as their
businesses grow, smaller companies typically look for
improved performance around their core processes,
such as production and supply chain.
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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

The report also found that:

»» The reasons for implementing ERP vary; improving business performance takes the top slot
(64%) with positioning the company for growth and reducing working capital sharing second
place (57%).

»» More companies are moving their data from local servers to the “cloud” – 21% in 2018, up from
6% in 2017.

»» The level of customization companies required in 2018 rose significantly compared with 2017
figures (see figure 3).

Figure 3: A graph from Panorama Consulting Solutions’ 2018

ERP report comparing the level of customization chosen by
companies in 2017 and 2018.
Source: Panorama Consulting Solutions.16

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

Low-code/no-code makes the kind of customization companies now require a very achievable
goal, as illustrated in this 2018 Coactive infographic15, which considers the relative merits of off-
the shelf and fully-customized solutions, including costs.

Off the Shelf Fully Customized

No major customization, a quick but inflexible VS Built according to the experience and
fix for small to medium businesses requirements of your organization’s daily needs

Main Costs to Consider

Purchase & Integration Business analysis

Training Scope of work

Subscription costs Maintenance & Upgrades

Support Training

Maintenance & Upgrades Support

Additional customization

Development & Implementation

1 - 3 months 6 months

Compatibility

Limited / Zero Fully compatible

Upgrades

Limited / Zero Included

Functionality

Pay for more than you need Only get what you need

Scalability

Limited / Zero Fully scalable

Figure 4: A comparison of off-the-shelf and customized business applications.

Source: Coactive website.15

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology
The ability to easily and economically customize
software is not the only reason low-code/no-code
platforms are increasing in popularity. They are
simple to use, flexible, and offer valuable workflow
features and data integration capabilities. They are
also helping companies deal with the “parallel trends
of an increasingly mobile workforce and a limited
supply of competent software developers.”17
In a 2017 interview, Simon Chan, Founder and CEO of
DigiVue Consulting, noted: “20 years ago, enterprise
systems were implemented by 100s of consultants
and experts at a multi-million dollar cost. Now
with No code/low code, the same systems can be
implemented by smaller players at a fraction of the
price and in a fraction of the time. Internet, Cloud and
social media, has leveled the playing field.”18
The author who interviewed Chan, IT industry analyst
Jason Bloomberg, added: “As today’s enterprises
undergo digital transformation, they become
software-driven organizations – and thus having
developers on staff who can hand-code software
has become an increasingly strategic necessity. After
all, this need has been driving the rise of enterprise
DevOps across all industries.
“Low-Code/No-Code will disrupt this entire pattern,
as enterprises realize they can be even more
successful with their digital transformations if they
do away with hand-coding altogether, adopting Low-
Code/No-Code across their organizations instead.”18
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Low-code/no-code – what does it mean?
According to App Developer Magazine, there is still
much confusion over the two terms. Its 2018 blog post
No-code vs Low-code: Which is right for you defines
them as follows:19
No-code platforms: These application development
platforms can be built and customized by people
with basic spreadsheet skills but no programming
experience (also known as non-coders or “citizen
developers”). This is made possible by the intuitive,
drag-and-drop interfaces, which allow users
to connect components and quickly build new mobile
or web app solutions to meet every-day business
needs, or replace spreadsheets, paper processes,
email or other outdated systems.
Apps with a focus on task management and real-time
reporting, such as a CRM, supply chain inventory and
general project management, are ideally suited to no-
code. Some no-code platforms have built-in low-code
capabilities, making them accessible to both non-
technical and technical users.
Low-code platforms: These typically require users
to be able to code, although programming language
requirements vary by platform. They are ideal for
building more complex, sophisticated business
processes that integrate with other applications and
services. More technically-minded business users
and developers can use low-code platforms to build
enterprise-class applications with strong security,
compliance, and audit and permissions capabilities. 
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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

In a blog post for CIO Review, software architect In a

blog post for CIO Review, software architect Thierry
Ciot points out that a big advantage of low-code/no-
code platforms is that they provide a broad array of
built-in services, for example:20
»» Responsive and adaptive UI for multiple devices
»» Built-in themes
#4: IDC’s digital transformation predictions
“The paramount importance of customer
advocacy will result in 60% of B2C brands
embracing net promoter score as their leading
success metric by the end of 2020.”2
Source: International Data Corporation (IDC)2

»» Support for multiple languages

»» User management (self-registration, provisioning,

password management, etc.), custom reporting
capabilities and various document creation
formats for application data

For Ciot, the back-end of these platforms also

has much to offer, including a strong security and
permission model, search and indexing, import/export
capabilities and built-in integration with various email
systems and authentication providers. And companies
operating in a cloud-centric environment will benefit
from additional services.

He puts the growing success of no-code/low-code

platforms down to the fact that they address very real
business needs. Companies can start small, fail fast
and use that knowledge to grow and scale quickly.
This allows them to modernize their business at a very
affordable price.

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

In conclusion:
The top 10 ways to boost your bottom line with low-code/no-code technology
Drawing on the expert sources and latest thinking explored in this paper, it’s clear that many see
digital transformation as the key to future success – and low-code/no-code as one of the simplest
and most cost-efficient routes to get there.

For participants in the 2018 ERP survey,16 simply implementing any kind of ERP system proved
hugely beneficial for improved information availability, data reliability and productivity and
efficiency (see figure 5). The report also found that:

Figure 5: A graph from Panorama Consulting Solutions’ 2018 ERP report

recording the benefits respondents realized after implementing ERP.
Source: Panorama Consulting Solutions.16

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

Add low-code/no-code, cloud technology and customized solutions into the mix and companies
will soon see their initial investment reaping financial rewards in 10 key ways:

1. Reduced (or even no) need for IT staff: This keeps
down hiring costs; particularly helpful for smaller
companies or those struggling to recruit from
the limited pool of skilled software developers
available.
6. Enhanced customer service: That same data
provides valuable insights into customer
requirements. With that knowledge, companies
can improve their service, adapt to changing
market needs and inspire returning custom.

2. Lower IT maintenance costs: No expensive or 7. Opportunities to identify new growth areas:

outdated legacy systems to keep running.
3. Improved productivity: With less time spent
using manual work-arounds or updating multiple
systems, employees have more time to focus on
income generation.
4. Creation of new efficiencies: Working digitally
offers opportunities to introduce improvements
and efficiencies across the business, from the
production line to logistics.
Drawing on the data gathered, companies can
uncover lucrative opportunities and divert
resources accordingly.
8. Addition of new customer groups: Many people,
particularly younger consumers want, and expect
to be able to interact with companies digitally.
9. Securing an edge over competitors: With so many
yet to adopt a digital approach, those that do can
expect internal savings and increased income.

5. Access to key data and analytics: When companies
can track activity and identify what works, they
can stop investing time and money in what
doesn’t. Potentially these efficiencies can be
passed on to the customer, increasing the
company’s competitive position.
10. Ability to remain relevant: Digital capabilities
allow companies to remain agile and swiftly
respond to new companies or industry disruptions
that could potentially impact business.

Interested in learning more about how low-code/no-code can help your company?
Contact us at:

Phone: +1 (866) 624-9798

Email: info@gocoactive.com

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White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology

Jargon buster
App: An abbreviation for “application”, it is typically used to describe anything that isn’t a full-fledged
software program, but even that line has become blurred. There are three main types of apps: desktop,
mobile, and web. Apps may or may not have a connection to the internet.21

Big data: An accumulation of data that is too large and complex for processing by traditional database
management tools.22

Citizen developer: Someone who creates new applications or programs using development and runtime
environments approved by the corporate IT team. These are typically not professional developers paid to
code applications, but ‘amateurs,’ who apply the available tools to build apps for their colleagues.23,24

Cloud computing aka ‘the cloud’: The delivery of on-demand computing resources — everything from
applications to data centers — over the internet on a pay-for-use basis.25

Digital transformation: The integration of digital technology into all areas of a business, fundamentally
changing how companies operate and deliver value to customers. It’s also a cultural change that requires
organizations to continually challenge the status quo, experiment, and get comfortable with failure.26

Enterprise resource planning (ERP): Refers to the systems and software packages organizations use to
manage day-to-day business activities, such as accounting or manufacturing. These systems are linked,
which eliminates the problem of data duplication and provides a ‘single source of truth’.27

Experience economy: An experience occurs when a company intentionally uses services as the stage, and
goods as props, to engage individual customers in a way that creates a memorable event.28

Gig economy: In place of a regular wage, workers receive payment for the “gigs” they do, for example
delivering food or giving someone a lift in their car. They are classed as independent contractors.29

Internet of Things (IoT): The fast-growing network of objects and devices that are connected, allowing them
to collect and exchange data using the internet.30

Low-code development platform (LCDP): An environment that programmers can use to create application

software through graphical user interfaces and configuration instead of traditional computer programming.
The platform may focus on design and development of a particular kind of application: such as
databases, business processes, or user interfaces such as web applications. LCDPs reduce the amount
of traditional hand-coding, enabling accelerated delivery of business applications. A common benefit is
that a wider-range of people can contribute to the application’s development—not only those with formal
programming skills. These platforms also lower the initial cost of setup, training, and deployment.31

No-code development platform (NCDP): Enables programmers and non-programmers to create application

software through graphical user interfaces and configuration instead of traditional computer programming.
No-code development platforms are closely related to low-code development platforms as both are
designed to speed up the application development process.17

www.gocoactive.com 16
White Paper: Top 10 ways to boost your bottom line with low-code/no-code technology
References
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