"I think there is a world market for maybe five computers." – Thomas Watson, CEO, IBM
"There is no reason for any individual to have a computer in his home." – Ken Olson, CEO, Digital Equipment Corporation
“640K ought to be enough for anyone.” – Bill Gates, CEO, Microsoft
We all do our best, but predicting the future is hard. That’s why it’s better to be adaptable than prescient in order to keep up with fast-changing customer needs.
What does it mean to be adaptable? What does it take to evolve your business as fast as your customers’ needs? In our experience at Pega, one crucial element is model-driven development.
Traditional enterprise application development projects typically take a year or more from the time that requirements are gathered to the delivery of the actual application. Miscommunication and misinterpretation of requirements is common, and changes to fix them can be expensive and cause delays. It can take so long that by the time systems are delivered, requirements have changed and the finished app doesn’t really do the job people need. It’s no wonder that industry stats report 70% of IT systems fail to meet business requirements.
Model-driven development is completely different. You don’t have business analysts write requirements in Word and then give them to IT to implement. Business and IT work together. They use visual tools to directly capture ALL business requirements in a unified model. At any time, they can automatically generate the application and its documentation. Whether you are building a new application, or making business-driven changes to an existing application, a model-driven approach can get you to business value faster.
The difference between conventional development and model-driven development is dramatic. Cap Gemini compared Pega 7 model-driven development with conventional enterprise software development and found that Pega is 6.4 times faster to build and 8 times faster to change. People are astonished to see that ordinarily takes a year takes one to two months to accomplish in Pega. Business people can immediately see what even a skeletal system will do, and to give feedback and make adjustments. It completely changes the dynamic of business-IT collaboration. Projects get delivered faster and more accurately. It gives you the agility to get apps to market fast and make changes fast.
- Farmers Insurance used model-driven Pega development to deliver a new underwriting system that doubled their market share and achieved a 70% increase in umbrella policy sales.
- CSC grew a new Medicare services business from start-up to $1B in a year. CSC developed and deployed its model-driven Pega systems in 74 days.
- And, Singapore-based OCBC bank developed a new customer on-boarding system that leapfrogged the competition and drove it to achieve #1 NPS in a year.
Back to predictions, Yogi Berra said it best: “It’s tough to make predictions, especially about the future.” One thing seems certain, though: the pace of change isn’t slowing down for anyone any time soon. So, architect your applications for evolution with model-driven development—and make change your competitive advantage.
Capgemini finds Pega 7 is 6.4 times faster than Java Enterprise Edition (Java EE) to develop robust business applications. Download A Productivity Comparison of Pegasystems Pega 7 versus Java Enterprise Edition Custom Build now to see the six key areas where Pega technology drives significant competitive advantage.