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Leveraging this paradigm shift in the software development landscape, Modukuri envisioned developing a product that would soon redefine the terms “low-coding” and “self-sufficient.” Enter, BizNuvo! The company is on a mission to ensure organizations’ success by providing a platform that offers self-service economy and empowers the business to help shorten delivery cycles and significantly reduce costs associated with delivering the solutions.
“It is a disruptive technology that helps organizations with zero-coding and self-service capabilities to deliver financial and retirement services,” says Modukuri, the founder and CEO of BizNuvo.
"It is a new disruptive technology that empowers the organizations with zero-coding and self-service capabilities to deliver financial and retirement services"
The Deceiving and Unfulfilled Promise— Low Code Platforms
Over the years, a multitude of low-code platforms has been introduced with the promise of reducing the amount of coding required to develop and deploy an application. Rather than writing a million lines of code, these offerings enable organizations and programmers to build apps spending over eight or nine hundred thousand lines of code. Modukuri highlights that these platforms did take off the burden of writing codes but only to a minimal extent, which in many ways serve no reasonable purpose. Companies would still need to hire experts to write these codes, invest money in setting up the right infrastructure, and spend several months to design, develop, and deploy it.
By bridging the gap between the business and IT teams, BizNuvo enables innovation like never before
Noticing the plight of organizations and their increasing demands, Modukuri built BizNuvo—a business-driven platform—that facilitates companies and users from a non-technical background to design, test, and deploy any application they want to, without wasting time or resources.
“When our end goal is to reduce the coding, why not remove the coding entirely?” says Modukuri.
Ushering a “No-Code” Era
Business users can deploy BizNuvo’s enterprise transformation platform on-premise or in the cloud to deliver and manage business rules, micro-services, and applications, all by themselves.
As it is visually-driven and involves zero-coding, BizNuvo enables IT, operations, and business teams and companies of all sizes to create, innovate, and deliver solutions in a fraction of the time, without an IT expert on standby. Companies no longer need to invest in the highly-skilled workforce, IT systems, and waste months to develop an application.
As low-code platforms are often geared toward developers as a tool to make their work much faster, BizNuvo allows organizations’ ‘citizen developers’ to be able to deliver the solutions on their own. “With BizNuvo, citizen developers have a platform for all their creative sparks, within an environment approved and controlled by IT,” says Modukuri.
He continues, “By bridging the gap between the business and IT teams, BizNuvo fosters innovation like never before.” Additionally, BizNuvo also reduces the cost and duration from ideation to production to enable breakthroughs in transformation and execution along with accelerating the speed-to-market.
Modukuri further elaborates that software development with BizNuvo is 100 times faster than building with traditional coding or even with low-code platforms. As no-code solutions are less complicated than those based on conventional codes or low-code, they not only enable organizations to solve the most complex business challenges in the easiest way possible but also allow them to implement continuous delivery, reduce their cost per customer (CPC), and adapt to the ever-changing market.
Today, the firm offers four packages—BizNuvo Rules, Microservices, B2B applications, and B2C applications. Specifically designed for the financial services and retirement industry, the platform helps organizations in these verticals to transform and digitalize their processes completely.
With BizNuvo Rules and Microservices, firms can build, deliver, and manage rules and services through continuous delivery and integration (CDCI) to provide omnichannel experience and help achieve digital transformation. Likewise, the BizNuvo applications enable organizations to design, manage, and serve both B2B and B2C applications with digital experiences that include rules, services, integrations, and workflows to simplify, automate, and transform their business transactions.
Design, Simulate, and Deploy
Enterprises can build, deliver, and run any enterprise-grade solutions on the non-monolithic and plug & play platform with just three simple steps. Firstly, firms need to define their data fields, payloads that carry the data, transformers that convert the data to any format, integrations that let data flow inside-out and outside-in, external system integrations, and others. Next, they need to define their solution (services, rules, and workflows) by knitting the components they built in initially. Thereafter, clients can easily simulate and deploy it for client servicing operations. Lastly, they need to configure their teams’ workbaskets, receive work, and then cater to clients with complete visibility. With the drag-and-drop visual modeling and a “lego-like architecture,” BizNuvo enables companies to easily develop fully-functional solutions without having to write a single line of code.
As BizNuvo specializes in helping companies better deliver their financial and retirement services, Modukuri elaborates on how the digitally-driven platform assists Retirement Plan Sponsors that look forward to moving their assets from one retirement firm to another. Considering that retirement firms share and take data in a format of their choice, it is hard for organizations to convert, store, and transfer it from one source to another. In such cases, the client needs to deploy an army of experts to understand, map, and figure out what data needs to be shared. Although this is just one part of the problem, it takes them nearly three to nine months to figure things out and go ahead. Once the company has the required information, they need to go through another cumbersome process to store it in their record keeping systems. This requires another four months as it involves creating a process that takes the data and updates the same in the record keeping system. After this, they have to invest a couple of months more to test all the systems to ensure that everything is functional. They then request the plan data from their current retirement firm and start moving it to the other. One simple plan assets take-over request takes nearly a year along with ample investment and resources. With BizNuvo, the same process is completed in less than 2 to 3 weeks with only 2-3 non-IT workers. This is just one of the many examples of how Retirement Plan Providers could leverage this platform in reducing their cost per participant.
Uncovering Newer Frontiers in Software Development
Since its inception, BizNuvo has been entirely self-funded and is the first-of-its-kind zero-coding ecosystem. “We pride ourselves on being the only ones to tell the clients that their business no longer needs to rely on others to build, innovate, and deliver business solutions,” says Modukuri. Having onboarded their first Fortune 100 company recently and having 3 of top 5 Retirement companies in the pipeline for Q1 2019, BizNuvo aims to engage with many other fortune firms and extend their offering to clients in Europe, South America, and Asia in the near future. “Our overall focus will remain on empowering organizations with zero-coding and self-service capabilities,” concludes Modukuri.