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ABSTRACT Low‐code/no‐code (LCNC) platforms, such as ServiceNow and Microsoft Power Platform, enable employees without formal IT training to build applications and automate workflows, thus driving agility and reducing dependence on traditional IT teams. However, LCNC platforms also pose a persistent challenge for organisations: while they offer flexibility and freedom by enabling decentralised development, they also require standardisation and control to manage risks that can be exacerbated by these platforms, such as shadow IT and technical debt. Striking the right balance is difficult—too much flexibility can compromise stability, while too much standardisation can stifle the autonomy and creativity that make LCNC platforms valuable in the first place. This study explores flexibility–standardisation tensions in LCNC development through an investigation of two multinational technology firms with differing LCNC maturity levels, both using ServiceNow. Drawing from 57 interviews, we identify three types of flexibility‐standardisation tensions shaped by three key elements of LCNC development: the platform itself, the people using the platform and the organisational processes targeted for improvement. We derive six guidelines used to navigate flexibility–standardisation tensions and demonstrate how these are applied across different stages of LCNC maturity. Building on these insights, we provide concrete, context‐sensitive recommendations to help organisations adapt the guidelines to their specific environments. We conclude with forward‐looking reflections on how firms can dynamically make sense of these tensions as LCNC platforms and practices evolve. Overall, our findings show that effective LCNC governance requires a dynamic approach—one that balances flexibility and standardisation simultaneously rather than treating them as opposing choices.