Digital transformations and sustainability are driven by technology, as well as the growing need for companies to meet regulatory requirements like the Corporate Sustainability Reporting Directive (CSRD). Low-code application development platforms like Mendix are making it easier for companies to meet these new requirements through more accurate reporting—not to mention the many benefits of using low code for improving other business processes.
While companies may initially turn to low-code applications for CSRD compliance or other reporting obligations, the technology’s potential stretches much further. Mendix can help entire industries streamline complex processes, create flexible applications for customers or behind-the-scenes operations, and help stakeholders adapt quickly to the evolving needs of other departments, partners, or the entire market.
The concept of a digital transformation can mean more than just modernizing business processes across the board with the flick of a digital wand; it also helps companies stay accountable through data records. With automation, real-time data collection, and the ability to incorporate legacy systems, companies are now able to track and report on their environmental, social, and governance (ESG) performance with more accuracy.
This is particularly helpful for those needing to meet CSRD requirements, and low-code platforms like Mendix are making the collection, management, and reporting of such sustainability data relatively straightforward. But these platforms don't stop with compliance—they allow companies and their employees to get creative and innovate in ways that may have seem far-fetched even a few years ago.
The CSRD is a European Union initiative aimed at enhancing and standardizing the sustainability reporting process for companies. The initiative requires a wider range of companies to disclose their ESG impact for greater transparency and accountability.
Low-code platforms like Mendix are ideal for handling the complexity of establishing these new standards; through agile mechanisms that can be thought-up and conceptualized by non-technical professionals, speedy and scalable applications can come to life pretty quickly.
So, how can these low-code applications help?
Mendix lets companies use visual, drag-and-drop interfaces to build enteprise applications that can help with reporting. This accessibility allows non-technical personnel from legal, finance, and sustainability departments to participate in the development stage early on when creating an application that needs to interact with many data sources.
Low-code development allows applications to be built up to ten times faster than traditional methods. Development speed is critical for evolving compliance needs, and businesses can make quick adjustments to their reporting processes as CSRD standards change. The ability to iterate quickly minimizes non-compliancy and development costs.
3- Old dogs, new tricks
Inevitably, compliance reporting will likely need companies to gather data from multiple systems—and that could mean legacy systems built well before cloud technology and the high expectations of automation. Low-code applications can be built to seamlessly integrate with existing systems, allowing companies and departments to gather real-time data and generate accurate reports. This also ensures that the data required for CSRD compliance is collected and reported without manual intervention.
4- Scalability and flexibility
CSRD compliance isn’t going to be a simple, static set of rules. As reporting needs become more complex, businesses need tools that can react accordingly. Mendix's low-code platform allows for horizontal and vertical scaling, meaning that as the volume of data increases or as new regulations are introduced, applications can be adjusted without a complete rebuild. Mendix also offers flexibility so experienced developers can add custom code if necessary.
While companies may only initially need Mendix for creating reporting applications, they’ll quickly discover the potential for low-code applications to transform other areas of their organization. From automated workflows to real-time data dashboards, low-code technology allows companies to adapt and scale as customers increase, new products go to production, and departments merge.
Low-code applications can automate workflows for increased efficiency while reducing manual processes and the chances of human error. From supply chain management to employee onboarding, low-code applications can carry out mundane or time-consuming tasks that give employees more time to focus on strategy.
Low-code platforms can also create engaging customer-facing applications. Retail, banking, and hospitality businesses can use Mendix to develop personalized customer portals, mobile applications, or even interactive chatbots that enhance the brand's reputation.
Access to real-time data is critical for decision-making in industries like healthcare, logistics, and energy. Mendix helps businesses build dashboards that consolidate real-time data from various sources, providing a comprehensive overview of operations. This can be used to track everything from factory performance to patient outcomes in healthcare.
Are you looking into using low code for your business, or do you just want to learn more about the technology? Why not get in touch or take a look at our handy low code guide.