Some things in life cannot be pursued directly. Success and happiness, as noted in Viktor Frankl’s Man’s Search for Meaning, come to mind. Enterprise software reuse is another outcome that cannot be directly pursued. Reuse, like happiness or success, happens when the conditions are right. This concept is specifically important if your enterprise is looking to drive software reuse, and ultimately aiming to create an application network. This is because it’s instructive in telling you what to aim for;
Application networks and APIs are a key enabler of the composable enterprise, creating a more agile organization and allowing for rapid responses to changes in market conditions, technology disruption, and business demands.
Adopting an API-led approach in your composable enterprise allows each newly developed API to add incremental value to your overall application network and market place. It allows new capabilities and architectures to emerge over time,
As your marketplace of reusable APIs grows, the flywheel effect and the return on value increases exponentially through savings in IT cost. The economies of scale potential can be the driver for more strategic focus and investment toward discovery and delivery of such foundational and reusable APIs within your organization.
In this episode, Claire Barrett — Director at APIsfirst Consulting — articulates the most important ingredients organizations need for a sustainably successful API program, and also details the Women in APIs program she is leading. Have a listen here:
There is a data revolution driving the digital transformation movement. Organizations can reap plenty of business benefits in the back office by digitizing data and automating their processes. However, the companies setting the bar in the digital economy are the ones that maximize their use of data to deliver captivating customer experiences. These companies recognize the value of raw data, know how to refine it, and how to disperse it throughout their digital touchpoints.
The demand for flexible business models from our consumers is at an all-time high, re-assembling and re-composing organization’s digital products at a faster pace is the top priority of stakeholders. Purchased off-the-shelf applications are not fluid enough to keep pace, an application layer that provides active personalization of business capabilities is required to satisfy expectations from customers — and is key to making the composable enterprise dream a reality.
Take it from a serial consultant that helps organizations in their composable enterprise journey — we have learned that the challenges ahead are real.
I often get asked the question, “What is your data strategy?” It’s a bit of a tricky question as in some areas we do a lot with data, and in other areas, we do very little with it. The market has trained folks to believe they need to become ‘data-centric’ via a data strategy — and so it goes.
The data tools market has various solutions with overlap amongst the different segments which are defined differently by the analysts that cover them.
As consumers have adopted third-party digital apps and services to better manage their financial lives, open finance has become a critical digital transformation priority for financial institutions. Today, it’s more important than ever before with almost two-thirds of consumers globally using at least one fintech app and an increased amount of financial activity happening digitally in the midst of COVID-19.
The Edison light globe was a revolution in technology, and was the ‘killer-app’ for starting wide-spread use of electricity at the turn of the 20th Century. Today, while we have the bayonet type of socket adapter or ‘interface,’ we still have the original screw type interface that Edison invented. What may be a lesser known and scary fact is that the original deployment of electricity itself didn’t rely on the ubiquitous electric power point that we all know today,
As the COVID-19 pandemic changes consumer behaviour and puts increasing pressure on traditional business models digital transformation has never been more important. But to reap the benefits, organisations must seamlessly integrate applications, data, and devices. This requires an organisation-wide API integration strategy.
In the financial services sector, digital transformation provides vast opportunity for innovative companies to use an API-led strategy to build consumer and merchant networks that will drive economic development across ASEAN.
