Yes, from version 1.3 and up the tool is also available as an App. This way the deployment of the tool across sites with many lists is simplified. The App also improves the usability by adding a button to the standard SharePoint ribbon. This way users can simply click a button to open the tool just like they did in the past with "Open with explorer".
The App is installed separately and is only available for Office 365 Business and Enterprise plans. Contact firstname.lastname@example.org about installing the App on an on-premise system (e.g. SharePoint 2016).
The "SLIM Companion Explorer Administrator Guide" provides detailed instructions about installing the App.
Note: the App is not available from the Microsoft AppSource store.