Intellyx BrainBlog for Zoho by Jason Bloomberg
We’re all tired of COVID. Worse, we’re all tired of hearing about COVID.
We know how to wear masks. We know how to social distance. And we know how to work from home. Is there anything more to learn?
Absolutely. Businesses had to react quickly to the onset of the pandemic, transforming their operations, and in many instances their very business, to deal with our new reality.
While some succeeded, and many failed, the difference was often in how ready an organization was for digital transformation.
So has your organization learned the right lessons?
A tale of a loan program
On March 27th, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act came into force in the US. It created a lending program for small businesses in the US called the Paycheck Protection Program (PPP). And the PPP was remarkable in terms of the number of businesses that applied, the amount of money disbursed, and perhaps most striking: how little time lenders had to implement the program. This was possible because of an application created to automate the manual repetitive tasks involved in processing loan approvals.
The only way a company could build an app like this so quickly was by leveraging low-code functionality in the underlying platform. Furthermore, low-code addressed several issues beyond the customer-facing app, including back-office processing and integration with Small Business Administration (SBA) servers.
For the commercial banks supporting the PPP, the lesson was clear: the days of multi-month enterprise app development projects are over, and low-code technologies are leading the transformation.
