The convergence of affordable microcomputing and low-code software platforms is fundamentally reshaping how enterprises approach innovation.
Just take, for example, the evolution of the single-board computer (SBC) maker Raspberry Pi’s business model from B2C to B2B. Initially designed as an educational tool, the microcomputer company reportedly now sells over 200,000 of its products every week and has emerged as a significant player in industrial applications.
Per a report from the Financial Times, Raspberry Pi’s credit-card-sized SBCs provide the computing power for electric vehicle chargers and pinball machines, control the Kenya Wildlife Service’s observation cameras and the production line of folding bike maker Brompton, as well as power Heathrow airport’s departures and arrivals boards and electronics group NEC’s digital signage, among other commercial applications.
Increasingly, microcomputers like Raspberry Pi’s are being utilized to offer enterprise-class systems without the cost and complexity of traditional hardware, something particularly valuable in facilitating modern industrial edge computing across industrial computers.
This combination empowers organizations to innovate rapidly, reduce costs, and address specific business needs without extensive coding expertise. And this trend could have far-reaching implications in the realms of payments and commerce, where agility and scalability often determine market competitiveness.
Read more: Making Sense of No- and Low-Code B2B Payments Technology
The barrier to entry for creating bespoke technological solutions has plummeted over the past decade, and a key impact of microcomputing and low-code solutions is their ability to engender walk-not-run modernization and digital transformation initiatives.
When it comes to payments systems, as Kat Battle, product manager for Complete AP at Bank of America, told PYMNTS, “more and more organizations are recognizing the need to update and modernize what has historically been a manual, paper-based process — but one that’s also very mission critical to the business function.”
Still, traditional software development projects often take months, if not years, and come with hefty price tags. By contrast, teams leveraging these accessible tools can iterate on solutions in days or weeks, achieving faster time-to-market and minimizing resource expenditure.
Payments and commerce, critical areas for any business, are increasingly emerging as potentially prime beneficiaries of this shift. The demands of modern commerce require businesses to juggle complex workflows, diverse payment methods and regulatory compliance — all while maintaining a seamless customer experience. Affordable microcomputing hardware, combined with user-friendly development platforms, can help in enabling enterprises to meet these challenges head-on.
As Boost Payment Solutions Chief Operating Officer Illya Shell said in an earlier interview with PYMNTS, “B2B payments haven’t evolved much from the modalities that dominated the landscape 40 or even 50 years ago. Traditionally, payments were an afterthought, but modernizing global B2B payments is an enormous opportunity … Much of what’s left is really hampered by rigid and inflexible systems.”
Read more: B2B Payments Enter a New Era of Innovation and Transformation
One of the most significant advantages of these technologies is their ability to empower non-technical staff. Accessible development platforms come with drag-and-drop interfaces, pre-built templates, and step-by-step tutorials that make it possible for employees in finance, marketing, or operations to create and deploy solutions without writing a single line of code.
“Automate, automate, automate,” Lorenzo Soriano de Teresa, senior vice president, merchant services at American Express, told PYMNTS in an interview posted Aug. 27. “The right automation solution, or the right partner, can help businesses move past their current payments concerns to see tangible benefits.”
For enterprises, this shift means IT departments are no longer bottlenecks for innovation. Instead, technology becomes a collaborative tool across departments, allowing teams to tackle problems with a level of agility previously unattainable.
While the opportunities are substantial, this democratization of technology comes with its own set of challenges. Security is a primary concern. Custom-built solutions, especially those handling sensitive payment data, may lack the robust safeguards inherent in enterprise-grade software. To address this, businesses can invest in cybersecurity training and audits to work to ensure their innovations don’t inadvertently create vulnerabilities.
Finally, there’s the question of oversight. When multiple departments create their own tech solutions, organizations risk creating a fragmented ecosystem of tools and platforms, leading to inefficiencies and compatibility issues. A strong governance framework is essential to manage this newfound creative freedom effectively.
The post How Microcomputing Could Power a Macro Shift in Enterprise Innovation appeared first on PYMNTS.com.
