Microsoft Power Platform is a suite of business applications and services that combines the strength of Power BI, Power Apps, Power Automate, and Power Virtual Agents to support companies in modernizing their business processes and operations.
Power Platform provides endless benefits for organizations of all sizes and industries. It allows us to analyze data, deliver personalization, create better business apps, respond to generated insights, and automate numerous processes without depending on technical expertise.
It is essential to highlight that the Microsoft Power Platform can be used by non-developers and is not just a single tool; it’s a suite of tools operating on a single platform.
Power Platform brings low-and no-code development, workflow, and business BI tools to business users. These are the capabilities that enable individuals to develop their own business apps with Microsoft Power Apps, build and design highly personalized reports with Power BI, create workflow automation and integrations with Power Automate, and even build their own powerful AI-driven chatbots that can be easily integrated with the products and services they use every day chatbots with Power Virtual Agents.
In fact, organizations that use the Power Platform see a 362% return on investment (ROI) over three years and a payback period of fewer than six months, according to a Forrester Research Total Economic Impact™ (TEI) study commissioned by Microsoft. Additionally, the same research also highlighted that users of the Power Platform saw a 25% increase in productivity.
The same Forrester TEI study shared that the Microsoft Power Platform shortens application development processes by 70%. This is because the platform offers pre-built connectors and templates, making it simple to use even for non-technical professionals.
As noted previously, with features like low-code application development, advanced analytics, AI, and automated workflows, Power Platform can help organizations streamline their processes and maximize their productivity, and these are some of the tangible benefits it offers.
The Total Economic Impact™ study conducted by Forrester explores how the Power Platform key capabilities can help companies unlock more real business value, and these are just some of the results.Low-code/no-code tools are used to accomplish citizen developer projects at lower costs.
1. Low-code/no-code tools are used to accomplish citizen developer projects at lower costs
Power Platform reduces costs and effort for projects, regardless of which platform components the interviewees of the organization used for low-code/no-code development.
In fact, projects of various sizes and degrees of complexity are completed using the Power Platform. The TEI study demonstrated that the number of medium-sized projects decreased by 50% with its implementation. However, large projects were reduced by 70% after their implementation. Finally, the risk-adjusted net savings is $2.0 million, or 48% according to the Total Economic Impact study.
2. Users are more productive and efficient when working with solutions built with Power Platform
The Power Platform workflows and applications make it easier and more efficient for users to gather and disseminate information, and according to the same Forrester study, users’ efficiency increased while utilizing the Power Platform, rising from 3% in year 1 to 5% in year 3. In the same way, the study suggested that for compound organizations, each medium-sized project benefits 50 users, and each large project benefits 300 users.
3. Power Platform increases business outcomes
As was already noted, the Power Platform provides businesses with a set of tools that are perfectly suited to streamline operations, gain insights from data, build custom business apps, and even enhance collaboration through its Microsoft Team integration.
The Total Economic Impact™ study commissioned by Forrester highlighted the advantages of lower operating costs and higher revenues, which led to 1% higher revenues and operating margins from 12.0% to 12.5%
By utilizing these tools effectively and by leveraging their real value, businesses will improve their outcomes and accelerate results.
4. Microsoft Power Platform is used by companies to replace external business applications and BI tools
According to some of the interviews included in the TEI study, some of the requirements satisfied by business user-developed solutions would have been satisfied by purchasing vendor solutions.
By doing away with the need for separate software licensing and maintenance, Microsoft Power Platform reduces stress on your IT personnel while keeping costs under control.
Other licenses for business intelligence tools are also replaced by Power BI. According to the analysis, the three-year risk-adjusted savings total around $829,000.
As you may see, utilizing the Microsoft Power Platform is an excellent way for companies to stand out among their competition and become more agile and efficient in their operations.
Data analysis and reporting, business app creation, and automation are just a few of the reasons why your company should use the Power Platform. Likewise, it allows companies of all sizes and industries to save time and money while improving performance.
Additionally, the Power Platform may be adjusted to each company's unique requirements, offering specialized solutions that are scalable and responsive to shifting market conditions.
Companies can acquire a competitive edge and set themselves up for long-term success in today's fast-paced business environment by adopting Microsoft Power Platform advantages.
Are you interested in bringing some of these benefits to your organization? We are ready to help you unlock its real benefits. Start today!