VENDORiQ: Creatio - More Low-Code Investments
23 February 2021: Creatio has just taken US$68 million in funding, joining the current investment frenzy in low-code platform vendors.
Why it’s Important
Creatio started life as a BPM vendor in 2011, and introduced its low-code platform in 2013, making it one of the better established of the new generation of low-code vendors. This round of investment is relatively small, compared recent activity in the low-code platform market. Even so, it is yet more evidence that the market for Cloud-based low-code is on the boil. These low-code platform vendors are spending their new-found cash on the following, in order of priority:
- global market expansion: setting up new offices and hiring channel managers, which means more vendors will be entering the ANZ market more aggressively
- buying additional elements of the ‘low-code everything’ stack: including business process mapping / management (BPM), robotic process automation (RPA), API management (APIM) and rules engines
- buying market share with acquisitions: as we saw recently with Nintex procuring K2
The challenge for buyers of low-code platforms is that while the market is beginning to see a great deal of change and competition, their ICT investments need to be considered for the long-term - at least a decade. This is due to the need to invest the skills, processes, governance and change management to get the promised returns on whatever low-code is selected.
- Development team leads
- Business analysts
When considering low-code platforms (and it is likely your organisation will have more than one, in order to meet different needs) look for the investment and development road map of the vendors. In particular, determine if the vendors have a viable strategy to develop skills and support resources locally, either directly or through channel partners. Also, explore their road map for delivering more than just eforms and workflow, but moving to acquire or develop a ‘low-code everything’ platform.
Related IBRS Advisory
- Cloud low-code vendor Webflow secures US$140 million
- How to succeed with eforms Part 1: Understand the need
- Workforce transformation part 4: Non-techies are taking over your developers’ jobs – Dealing with the fallout
- Aussie vendor radar: Nintex joins the mainstream business process automation vendor landscape