How APIs Can Transform Your Company
While APIs have been around for decades, the capabilities of these increasingly sophisticated tools are now indispensable to businesses. APIs have become the essential connective tissue that enables companies to securely and quickly exchange data and information with the outside world. Today’s forward-thinking companies are taking APIs very seriously and doubling down on their API strategies. And there’s a strong business case for doing so. When companies adopt a robust API strategy, the results can be transformative. Enterprises with advanced API management processes experience up to47% better business results as compared to enterprises with basic API management.
With a thoughtful strategy in place—a strategy that goes beyond a technical imperative—companies can capitalize on several core benefits of APIs.
In 1990, the average enterprise used a mere 5 to 10 different enterprise apps. Fast forward to today and the average enterprise uses nearly1,200 cloud apps. New apps are infiltrating businesses at unprecedented rates and will likely continue to do so as more companies transition to remote work. At the same time, customers demand integrated experiences. APIs are the glue that allows these otherwise disconnected and siloed apps—the likes of CRMs, ERPs, finance, communication, and marketing automation platforms— to communicate with each other and, in turn, deliver any functionality that the organization requires or desires. With APIs, workflows can be carefully and strategically orchestrated so that productivity and impact are optimized, even when individuals are working remotely.
Especially in today’s constantly-evolving work environment, workflows and processes are constantly changing. APIs help ensure that connectivity and collaboration remain strong even as workflows and processes change. There’s a reason why approximately50% of all B2B collaboration occurs via APIs. If companies don’t have access to APIs and can’t easily interact with your data and business, collaboration and connectivity will be compromised and you’ll find yourself falling behind your competition.
We’re living in the age of the customer. Customers are demanding top-notch experiences. More than half (57%) have ceased buying from a company because a competitor provided a better experience. Each customer is distinct and has a unique set of needs and wants. It’s impossible to serve up a perfect resonating experience for each customer without leveraging the power of APIs.
By opening up information access via an API, companies empower their customers to design and tailor their own experiences. The possibilities are seemingly endless.75% of individuals believe that their company’s use of APIs has significantly enhanced their customer experience. With APIs, customers can take a driver’s seat role and identify gaps in the customer journey.
