2017 is definitely the year of Application Programming Interfaces or APIs. APIs are set or routines and components that enable various software, applications, and system to connect and share data with each other. Basically, it promotes collaboration between two or more platforms. APIs are also vital in customizing Graphical User Interfaces (GUIs). This year, APIs are dominating the digital world. According to Programmable Web list, there are over 17,000 APIs in the database.
APIs are now playing an important role in improving business models. Most companies that are integrating digital strategies into their business operations are taking advantage of APIs. Here are the top five ways APIs can help businesses:
Modernize organizations structure
The use of private APIs provides companies the opportunity to restructure and modernize their business. How? APIs enable “composable enterprise” in which companies can break down certain functionalities and services and re-create them into new business value chains, thus developing new services and data. Moreover, APIs offer businesses access to a wide range of resources that enable them to move operational elements to external providers.
Increase business productivity
One of the direct impact of APIs on business systems is increased productivity and efficiency. Basically, APIs improve collaboration and internal communication among software and systems. With this, internal processes are more productive and efficient. According to a study by McKinley Global Institute, productivity is increased up to 25% through the use of APIs. On the other hand, APIs also promote automation, updating workflows to make them work faster.
Boost loyalty and conversion rates
In running digital marketing strategies, the goal is to build your online presence. The more content you put into the digital space, the more likely consumers can see you. Through APIs, you can be able to share data on multiple platforms, thus, increasing your reach. Moreover, it is important that you provide all the necessary data your customer needs on your website. Through APIs, you can pull weather updates, currency exchange rates, and travel flights so they do not have to open another site to look for information.
Manage supply chain efficiently
APIs are integral in delivering new functionalities. For businesses that engage in service delivery to customers, APIs can help in managing supply chain efficiently. For example, Viaplay, an online content provider use two internal APIs in managing their services. One API is in-charged with checking customer’s subscription levels. The other API does the re-commencing the subscriber’s content. With this, you do not have to worry about delivering your services.
Improve customer experience
One important characteristic of API is its ability to customize content for the customers. As a developer, you have to anticipate what your customers need to your website. With this, you can access different content and services from other external platforms and integrate it into your website. APIs allow content to be embedded in any application or site. This will guarantee a more fluid flow of information, improving the user experience.
These are just a few of the many advantages businesses can get in integrating APIs into their systems.