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Developing A Successful API Economy

Developing A Successful API Economy

In simple terms, an API economy describes the process used by a business or enterprise to connect it’s customer interfaces with technology and software components already used internally for business practices. It requires effective management in order to achieve a smooth transition to integrate the two together. However, even highly tech-oriented companies that understand the real value of APIs often treat them as an afterthought rather than a core development feature of projects they develop internally.

APIs are often poorly designed and wind up costing thousands of dollars in undue maintenance and reengineering costs. Which is one of the reasons cloud-based application integration can bring in welcome solutions. They provide consistency and centralization that can be key to creating, managing and monitoring APIs and their performance. It’s also a way to expand your current marketplace and use these same applications to syndicate to new channels, markets and audiences.

When a company no longer has to look at each application as a separate and unique entity, it makes implementing and tracking integration that much easier. And more effective for the overall welfare of the company.

Technology is no longer tasked and controlled by the CIO and his team. Instead, we’re finding technology is now moving throughout the organization and impacting various teams at different levels. The CMO is soon predicted to be spending more on IT than the CIO. They understand that the most effective way to reach potential business is by giving prospects and customers what they want most: Ease of use.

Yet as much as the CMO wants and needs effective technology to allow his team to do the job efficiently, it will always remain a part of the CIOs job to ensure the safety and security of data flow within the company.

It’s now up to the CIOs to listen and understand what the entire business structure needs to run productively. There is no one size fits all solution and there never will be. What works for a large tech company will not be best for a small medical firm. The easiest approach will be to work with outside IT experts and industry analysts to help determine the best approach for the organization.

Especially as we move into new platforms, smarter technology, and faster moving systems, the key will be to consistently tailor a strategy for everything a company does, to make sure full integration isn’t just in the tech department, but exists throughout the organization.

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