We can claim with absolute certainty that API Management has become the main method of digital business transformation.
The API technological concept – a system that allows an application to interact with other applications without knowing their internal functioning in detail – falls short when analysing the importance that betting on this model could have for a company.
APIs have a much greater significance from a business standpoint, since they enable the provision of small services of interest to third parties in exchange for money, which means that they can become the main generator of revenue for a company if it focuses all of its efforts on taking advantage of their potential.
This is why the true digital business transformation has much more to do with the way in which they are managed rather than with technological development. Which is the reason why API management is key.
What is API Management?
API can help any developer offer applications that are useful for a particular group of users. But in order to carry out this process, a secure and scalable environment is required, which offers specific functionalities. This is what we know as API Management.
Any company that bets on APIs as a core element of its business requires API Management. It is only though it that it will be able to maintain an adequate control over matters as important as access permissions, the design of monetisation mechanisms, potential security breaches or the way in which others use the APIs.
As a result, API management allows those who publish an API and its users to oversee a great number of important aspects.
When speaking of API management, we are referring to offering developers at least three things:
– An entryway that allows for the monitoring of traffic and the analysis of the way in which APIs are used. Here is where the flow of communications and processes between APIs can be managed.
– A manager, through which APIs are published and edited, and which is used to handle their life cycle.
– A development portal, which offers an API listing and their documentation, as well as statistics, testing systems, etc.
Why is API Management important for your business? Benefits of API Management
API management is crucial for businesses for several reasons. By implementing a robust API management strategy, organisations can:
When evaluating an API management tool, it is essential to consider several factors that can affect the quality, reliability, agility, speed and cost-effectiveness of your APIs. Below are common criteria for evaluating potential API Management platforms for your business:
A good API management platform should be capable of offering a balance between access to the systems, stored data and the functionalities with a reliable back-end system.
Thanks to this, a wide spectrum of interesting goals can be accomplished for all agents, which range from offering APIs to external developers to expand their usefulness and generate new business models, to allowing companies to develop and launch new products for their customers in an agile manner.
Users of any application demand an increasingly faster and more efficient execution. However, one needs to keep in mind the difficulty that executing the APIs implies in a variety of platforms and different devices, since managing this is very difficult for the company.
Therefore, the API platform should be prepared to offer efficient answers in regard to visibility and control in multiple scenarios.
A company that uses an API platform expects it to facilitate the job of automating processes, maintaining an adequate data flow, managing access to APIs and, overall, for the operations to be performed efficiently, regardless of the circumstances surrounding their operation.
Security is a basic need, and an API platform should be able to analyse the information and detect suspicious behaviours that may imply a threat, whether stemming from bots or other means.
The strengthening of the security systems will help the company prevent cyber criminals from introducing malware into organisations that work with APIs, thereby offering extra reliability to their customers.
Actionable intelligence therefore provides a safer environment that increases customer engagement.
Efficient API operation can lead to significant cost savings by replacing more resource-intensive ways of delivering data and services.
Ensure that the API management tool optimises the interface to respond to requests quickly and agilely.
API Management is a fundamental tool for accelerating a company’s digital business. With its ability to optimise the development and reuse of APIs, companies can significantly reduce costs and time to market. In addition, it provides metrics and reporting on API usage and performance, enabling more informed, data-driven decisions for a better digital transformation strategy. In short, good API management can improve the quality and efficiency of internal and external processes, which translates into greater value for the business.
If you have doubts and need more information about API Management and how it can benefit your company, contact us! We will advise you on the best solution for your company.