By definition, customer expectations are any set of behaviors or actions that individuals anticipate when interacting with a company. Historically, customers have expected basics like quality service and fair pricing — but modern customers have much higher expectations, such as proactive service, personalized interactions, and connected experiences across channels.
It’s easier than ever for customers to take their business elsewhere to find an experience that matches their expectations. As disruptive companies leverage breakthroughs in cloud, mobile, social, and artificial intelligence technology to deliver personalized, valuable, and immediate experiences, customers have more choices than ever. As a result, they grow to expect this superior experience from any business they engage with.
The Total Economic Impact
Rapid application development (RAD) describes a method of software development which heavily emphasizes rapid prototyping and iterative delivery. The RAD model is, therefore, a sharp alternative to the typical waterfall development model, which often focuses largely on planning and sequential design practices. SAP believes that accelerated application development nurtures business innovation, contributes to employee productivity and can accelerate time to value.
With this in mind, SAP recently engaged Forrester Research to conduct a Total Economic Impact™ (TEI) study to examine the value of an investment in a rapid application development platform. This rigorous research process included stakeholder interviews with SAP customers, applying their real-world achievements into an economic model that quantifies both the expected risks and benefits of an investment in SAP Cloud Platform Rapid Application Development by Mendix.
According to the TEI report, Forrester’s composite organization realized a payback period of less than three months. The report’s findings include the following benefits over a three-year period:
- Over 90% reduction in the cost of internal application development
- Over 85% reduction in the time-to-value from business applications
- Over 60% reduction in the costs of outsourcing application development
The report also includes feedback from interviewed SAP customers and provides insight into how other organizations evaluated low-code, and specifically SAP’s solution.
Driving Exceptional Outcomes
“In close to two years, we’ve built and rolled out 24 applications. Without SAP Cloud Platform Rapid Application Development by Mendix, we would not have gotten to half that number.” – Senior Manager of Enterprise Applications, Retail industry company.
Join the SAP-hosted October 15th webinar when Forrester will discuss their findings, as well as overall market trends.
Learn more about how low-code development is helping organizations innovate, become more productive and accelerate time-to-value.
Visit the first blog in this series to understand how low-code drives business innovation.
And visit the second blog in this series to learn how low-code enables business productivity.