This year, the Reston, Va.-based platform vendor completed its "pivot to low-code," Forrester said, and then became the first low-code platform vendor to have an initial public offering.
That capped a decade-long journey that saw Appian go from selling portals, to business process management tools, to its low-code platform.
The platform has been improved to provide greater cost visibility and access. The challenge now is to translate those upgrades into more customers, Forrester says, noting Appian reported only 330 enterprise customers by the end of June.
"Appian's features are broad across the board, and the company's process and data management features are particularly deep," Forrester said. It also offers tools "to make initial forays into AI applications."
Appian has funded extensive security certifications of its cloud service, but falls short on customer control over platform scaling, the report noted.