Saturday 8 May 2021
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How to Have Business Success with APIs & Digital Transformation

How to Have Business Success with APIs & Digital Transformation

While APIs are not a new concept in the world of software development, many experts believe that they are becoming increasingly important. For example, experts from Google predict that APIs will play a more role in the company’s future. As the API space continues to grow and transform, APIs will become an integral part of the way enterprises operate and develop software. Now that APIs are becoming a front-line tool, here is some information about how businesses can achieve success with digital transformation through API adoption.

How to Achieve API Excellence

Follow these five steps to for an effective API-adoption strategy.

1. Create an API-First Program

APIs offer a foundation with two purposes, which are precise metering and modular design. Modular architectures enabled by APIs give developers the capability to create, update, and subdivide components without affecting other elements of the overall system.

Not only does modularity offer benefits such as consistency, standardization, customization, but it also offers the operational ability to do precise monitoring and metering. All of these advantages along with the capability to partition decision rights makes modularity an excellent foundation for platforms.

Locked and siloed development is one of the main deterrents for speed in enterprises. These deterrents lead to the inability to share data or take advantage of the capabilities of the enterprise. Enterprises are often urged to stray from traditional legacy thinking and adopt an API-first approach. You should evaluate the way your developers write software and how they leverage the capabilities for larger systems.

2. Adopt the Cultural Pivots

In order to make re imagined development and continuous innovation methodology possible, these three cultural pivots are essential:

Publishing vs. Siloing

It is essential that businesses avoid reinventing the wheel as they move toward cloud-native software-driven enterprises with endless scale. Businesses can do this by reducing the marginal cost associated with new development.

Embracing Open Innovation

Innovation in the world is occurring at a faster pace than ever. Businesses should not limit their ability to invent based on the size of their teams.

Participating in Hackathons

For many enterprises, hackathons have proven to be an effective way to take advantage of the development community. Participating in hackathons can help enterprises improve stakeholder experiences and energize partner ecosystems and internal teams.

3. Embrace Ubiquitous & Open innovation

Today, the buying patterns of consumers are changing fast, which is in turn causing the global consumer market to transform right before our eyes. As a result, enterprises cannot thrive while having 1-year Time-to-Value for their product releases and multi-year innovation cycles. After all, enterprises like Amazon are delivering software several times a minute. Fortunately, there is plenty of technology available that can help enterprises compete with Amazon. To take advantage of the digital transformation API trends, it is essential that you embrace open and ubiquitous innovation.

4. Treat APIs as Products

To boost your chances of acheiving success with API adoption, you should treat APIs as products. This may involve designing programs to manage the APIs as products. Today, every enterprise has numerous opportunities to own an in-house platform. This in-house platform can invent new products and services for the enterprise. These products and services can be designed with APIs in mind.

A thorough API management tool and the right processes of thinking are needed to manage the ideation, publishing, development, and versioning of such products and services. Fortunately, enterprises will be happy to hear that the management ecosystem for API has advanced significantly to support development and innovation cycles.

5. Establish Programs for Early API Monetization

Enterprises should start iterations as soon as possible. The cash flow pattern associated with API monetization is very different from that associated with asset allocations, accounting, receivables, and amortization. However, it is possible that the operations of your enterprise are not suitable for supporting API monetization. Therefore, it is essential that you start small and as soon as possible. That way, your monetization capability will have the time to mature into an enterprise-wide program.

Many experts would agree that API adoption with digital transformation is the key to success for enterprises. For more information about the adoption of APIs, don’t hesitate to contact us.

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