As more business people become exposed to the API economy – the idea of turning business capabilities into APIs that are subsequently monetized in some way – they often race to the most obvious question: What should my strategy for the API economy be?
There’s no doubt that today’s businesses are under increasing pressure to innovate faster. Looking to deliver innovative offerings at an accelerated pace to meet ever-evolving customer expectations, many are turning to modern development models underpinned by the cloud, microservices architectures, and containerization technologies.
In 1989, when Jan Carlzon, the now former CEO of Scandinavian Airlines (SAS), published his bookMoments of Truth, he posited that a customer’s journey with any organization involves an untold number of seminal moments, each of which possesses the power to make or break that company’s future with that customer. Yet, somehow, long after his book was published, if you ask anyone who regularly travels by air about their experiences,
When an organization uses APIs to build new products, new business channels, and new business models in ways that ultimately produce new revenue or other measurable value, that organization is often said to be “monetizing its APIs.”
When people and companies grow wildly successful, we often forget that they have the same number of hours in the day as everyone else. Yet, we often find ourselves speculating, how do they do what they do…and how do they do it so well?
Today, APIs are an important part of how organizations conduct business––from internal APIs that streamline business processes to public APIs that generate revenue for organizations. The rising value of APIs raises the question: are APIs just another technology fad, shining brightly now, but soon to fade out of the spotlight?
What is the API economy? We believe that the API economy is one of the most profound occurrences to affect global business today. It is transforming every company and every industry — no matter how big your company is, no matter how established your industry is, no matter what kind of competitors you have. The API economy is the sum total of all the data transactions that are enabled by APIs.
The API economy affects the way enterprises should be thinking about APIs and achieving their digital transformation goals.
Unilever is a company that houses some of the world’s largest consumer brands such as Lipton, Vaseline, and Dove. With its large and ever expanding portfolio of products, it becomes an increasingly difficult process to integrate systems across seamlessly for business needs like supply chain management and sale processes. Knowing this, Unilever during the last three years started taking steps to decommission its legacy tools while speeding up its integration processes in parallel.
It’s no surprise that business is changing dramatically. The potential afforded by digital transformation could have dramatic effects on companies’ growth, scalability, and revenue. Here are the top 5 trends that I think will have a major effect on businesses next year:
When was the last time you received a letter? It’s no surprise that the amount of mail sent through the postal service each year is declining dramatically. For traditional postal services, like the New Zealand Post, this could represent a terminal crisis. But instead of trying to hang on to outdated business models, NZ Post is using APIs to enter the e-commerce, package delivery, and logistics markets, transforming its business and providing new sources of revenue.
MuleSoft provides the most widely used integration platform for connecting any application, data source or API, whether in the cloud or on-premises. With Anypoint Platform®, MuleSoft delivers a complete integration experience built on proven open source technology, eliminating the pain and cost of point-to-point integration. Anypoint Platform includes CloudHub™ iPaaS, Mule ESB™, and a unified solution for API management™, design and publishing.