November 2021 – iView Labs

Introduction:

Nowadays, a lot of businesses have started leveraging digital transformation to simplify their workflows and get more done with limited resources. Low-code and no-code development will play a significant role in helping businesses achieve their goals. In fact, low-code development platforms are expected to exceed $187 billion in revenue by 2030.

“The future of coding is no coding at all.”

– Chris Wanstrath, CEO at GitHub.

If you, too, are seeking to transform your business digitally through low-code development, keep reading. In this blog, we will be sharing how you can achieve digital transformation via low-code platforms. Before we get started, let’s look at a few low-code platform use cases.

Low-code Platform Usecases:

While there are many use-cases of low-code platforms, some of the most popular ones include:

Customer Engagement Apps: To deliver better customer service and allow your prospects to book appointments or interact with your business.

Business Apps: To streamline operations, supply chain management, and company-wide processes.

Collaboration Apps: That enables your employees to seamlessly manage their tasks, resources, etc.

Why Digital Transformation?

IDC reports, Digitally transformed organizations are projected to contribute to more than half of the global gross domestic product (GDP) by 2023, accounting for $53.3 trillion. Today, if your business isn’t digitally transformed, it won’t be able to stand against ever-changing times and fierce competition. Moreover, scaling up can be extremely challenging if your business isn’t equipped with the latest technologies out there.

Digital Transformation will enable you to:

Improve Productivity
Foster Innovation
Elevate Customer Experience
Increase Business Agility
Optimize Processes
Minimize Costs
Increase Speed to Market

Now that you know why you must transform your business digitally let’s see how to achieve it without spending a huge sum of resources.

Practical Usecases of Low Code Applications for Digital Transformation

Low-code platforms can help you solve some of your most intricate business challenges. Let’s look at some practical use cases of low-code platforms and how they can help you embrace Digital Transformation.

Web-based Customer Portal

Delivering a better customer experience is one of the many reasons companies embrace Digital Transformation. This involves developing apps that enhance their interactions across every touchpoint. Enterprises can easily achieve that with low-code platforms via customer engagement apps.

By using low-code platforms, users can develop and deploy apps with little to no coding. These apps can be scaled as and when required. Companies can monitor their performance and optimize them along the way. Thus, low-code development fosters innovation and allows organizations to move quickly.

Learn how SUEZ developed a web-based customer portal and improved their customer experience by allowing their users to perform routine tasks like paying invoices, calculating quotes, etc.

IoT-enabled Smart App

With the help of low-code platforms, your employees can create IoT-enabled smart apps that can be deployed without relying on your IT department. Not only can they make changes in real-time but also retract them easily. Ultimately, this provides more freedom to your employees — to innovate, be creative, and challenge the status quo.

Low-code platforms can enable your employees to get more done in less time — thereby boosting their productivity and improving performance. A recent survey by PTC reveals that 40% of businesses claim to have implemented Digital Transformation to improve their operational efficiency.

Learn how Hortilux — a leading manufacturer, and supplier of grow light solutions — revolutionized the greenhouse industry with an IoT-enabled smart app built with a low-code platform.

B2C Mobile Application

You can create fully functional mobile applications with low-code platforms. These platforms have ready-made templates and features that you can add to your app while developing it. By using low-code platforms, businesses can build custom apps much faster than the traditional approach.

Because many businesses employ digital transformation simply to speed up app development, low-code platforms can come in handy. They can radically decrease the amount of time it takes to launch a product while keeping its quality in check.

Learn how VGZ Cooperative — a leading healthcare insurance provider in the Netherlands — developed a custom mobile app in less time and by spending a fraction of the cost of traditional app development.

Apart from the above-mentioned ones, there are a lot of use-cases of low-code development. For instance, it can be used to develop SaaS apps, core systems, web portals, etc. You can use it for various purposes depending on your requirements.

Is Low-code Better Than Traditional App Development?

Yes. There are so many reasons you should consider low-code over traditional app development. Here are the top 3 reasons:

Improved Agility: Apps developed using low-code platforms make organizations more agile and resilient in the long run.

Cut Development Time: Low-code development can transform months-long projects into weeks-long — thereby enabling faster development.

Effective Risk Management: Unlike traditional development, Low-code platforms allow you to quickly adapt to market norms as and when needed.

Final Words

We hope we could provide you with a few ideas on the implications of low-code platforms on Digital Transformation. The possibilities can be endless. With a perfect blend of DX and low-code development, you can make your business stand out from the crowd.

As of now, well over 89% of businesses have already adopted or are planning to adopt a digital business strategy. With every passing day, the competition is going to get fiercer. Thus, now is the right time to take the leap and transform your business digitally.

If you need our help, let us know. We have helped businesses of every size and scale transform digitally by embracing the latest and cutting-edge tech and resources. Give us a shout, and our team will help you dominate your competition.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.com. Download the latest portfolio to see our work.

Introduction

It’s high time for NFTs. They are on the verge of being ubiquitous. The sales of NFTs crossed $2.4B in the first 6 months of 2021. That’s not all. The trading volume of NFTs has been soaring across the internet. A popular NFT marketplace — OpenSea reported an 800% increase in trading volume.

With more people joining the club every day, these numbers are bound to increase over time. This means, if you’re seeking to create your own NFT marketplace, there couldn’t be any better time than now. In this blog, we will share everything you need to know to start your own marketplace.

What is a non-fungible token (NFT)?

A non-fungible token (NFT) is like a digital asset representing art, music, videos, game items, etc. They can be traded via cryptocurrency and are built with the same software as other cryptos. What makes an NFT stand out is its uniqueness. Each NFT is unique and irreplaceable. However, you can still trade/sell them on various NFT marketplaces.

Here are a few properties of NFTs:

They are indivisible. You cannot divide an NFT or sell a part of it.
While it is possible to view an image or artwork for free, there can be only one individual owner at any given point in time. The ownership of any NFT can be easily verified and there’s no way anyone can modify/copy/paste ownership records.
NFTs can be scarce as they are launched in limited quantities and cannot be owned by multiple users simultaneously.

Now that you have a brief idea about NFTs, let’s understand more about their marketplaces and how they work.

How does an NFT Marketplace work?

NFT marketplaces work similarly to any other marketplace. Creators can upload their art on the blockchain, and collectors can view and trade it via cryptocurrency. You can create a marketplace for a very specific niche or for multiple industries catering to diversified audiences.

As far as the revenue goes, most marketplaces collect a commission from all the trades happening there. However, there are many other ways you can generate revenue via a marketplace. For instance, you can levy a subscription fee to sellers/creators or have a fixed cost for registering. You can also consider allocating space for ads either to sellers or advertisers.

Now that we have a brief idea about how marketplaces work and how you can generate revenue from it, let’s look through essential features every NFT marketplace must-have.

Necessary Features of an NFT Marketplace Website

1. Storefront

While this goes without saying, there couldn’t be a marketplace without a storefront. That’s where you can display the products, categories, and feature popular creators on the marketplace.

You should prioritize the information to be displayed on the storefront as it is one of the most important aspects of your NFT marketplace. It should be easy to navigate, intuitive, and must deliver a consistent user experience.

2. Advanced Search & Seamless Navigation

Search and navigation are critical components of your marketplace. You must ensure your marketplace is easy to navigate and the users can find what they are looking for in no more than 4-5 clicks.

To simplify navigation, you can consider adding a mega-menu with explicitly defined categories, sub-categories, and products. For search, you can consider adding advanced filters that allow users to search via product attributes.

3. Seller Profiles/Store

Creating a seller profile will greatly improve the overall shopping experience. Buyers who are looking to buy NFTs only from a specific seller can do so via visiting their profiles. And on the other hand, sellers also get to display their best work in an organized manner.

You can add the seller’s selling history, total NFTs, customer feedback to their profile page. This will also help buyers decide whether to trust a seller or not. For instance, if a seller has less than three stars from five, a buyer will be cautious while dealing with them.

4. Creating Listings

Creating NFT listings will be another basic feature every marketplace should have. This is where sellers can upload their work and list them for auction/sale. They can add descriptions, images, and other relevant details that are necessary.

NFT creators may or may not be tech-savvy. Thus, it is important to keep things as simple as possible here. You don’t want to confuse them with too many options. Keep what’s required and verify the information on each listing before it goes live.

5. Buying & Bidding

While some creators sell their artwork at a fixed price, others prefer to put their work at auction. So it is important that your marketplace offers both options to creators. Auctions should have an expiry date while other listings get automatically removed once the art is sold.

As far as the bidding goes, you must ensure the process is swift and smooth. The information about the latest bid should be updated in real-time so there are no conflicts whatsoever. Having a seamless buying cycle will ensure a good shopping experience for buyers.

6. Wallet

Both the parties, buyers and sellers must have their wallets on the marketplace. They can store, send, and receive cryptocurrencies in exchange for NFTs. Buyers can load crypto to their wallets and sellers can cash it out once received.

There are several wallet systems available in the market. Make sure the one you choose is safe and reliable. The last thing you want is failed transactions and unhappy users. If you can, test different wallet systems before fixating to one.

Conclusion

Apart from the above-mentioned ones, there are several other features an NFT marketplace should have. For instance, the ability to rate a trade post-completion, verify an NFT, and many more. While creating your own marketplace, think of the features that will be usable to your audience. A feature-rich marketplace is bound to thrive even amidst today’s rapidly disrupting economy.

If you’re seeking to develop your own NFT marketplace but don’t know where to start, let us help. We can help you create a high-performing marketplace that consistently delivers a good user experience. Give us a shout, and let our trained professionals help.

Month: November 2021

Low Code No Code Applications for Digital Transformations