CXOs Are Capitalizing On APIs To Boost Business: Study
APIs, or application program interfaces, are vital tools for businesses in all industries. They are a means by which two different programs are able to communicate. APIs enable companies to grow their businesses more quickly than ever before and matter so much in modern markets as they allow for faster innovation. Results from the latest CA Technologies global study reveal that a majority of surveyed organizations in India recognized the importance of Application Programming Interfaces (APIs) in business growth, with an impressive 91 percent adoption rate.
The study, APIs: Building a Connected Business in the App Economy, examines responses from 1,770 senior business and IT executives worldwide, with 799 from across the Asia Pacific and Japan (APJ) region, on how they are capitalizing on APIs to boost their business in the app economy.
Organizations in India are seeing APIs having a positive impact leading to better business results across all quantitative KPIs. These include a 60 percent improvement and increase in customer satisfaction and transaction volumes and an equal percentage of improvement in partner satisfaction. There has also been a 58 percent reduction in the number of compliance audit failures.
According to the study, 85 percent of the Indian firms are confident in the effectiveness of APIs in helping them to differentiate from the competition. This confidence level exhibited by the Indian firms is the highest in APJ, and higher than the average APJ response of 55 percent.
APIs are crucial to success in the application economy. However, simply using APIs is not enough. Effective management of API lifecycle is key to truly reap its benefits from conception to consumption. This full lifecycle approach to API management requires a wide and complex range of capabilities. It demands the ability to connect legacy and current systems; rapidly create APIs in order to safely expose data; integrate this with back-end data and legacy apps; protect these integrations with the right levels of security; accelerate mobile development; and unlock the value of the resulting digital ecosystems through analytics and monetization.
With this in mind, the study’s API management maturity model assesses how far organizations have implemented the tools and technologies, systems and processes, and the capabilities required for full lifecycle API management. The study found that 55 percent of surveyed organizations in APJ are advanced users of API management. These advanced users are much more confident at being able to differentiate themselves from the competition (81 percent) than basic API management users (50 percent). 74 percent of India respondents are advanced users, second highest across all of APJ countries.
“APIs empower enterprises to quickly modernize legacy architectures, add value to existing IT assets and create new product opportunities or revenue streams. Companies of all sizes, in all sectors, are using APIs to level the competitive playing field, and cope better with the rising volume, scale and volatility of customer-facing apps,” said Animesh Kumar Sahay, senior country director, Sales, Enterprise and Telecom, India, CA Technologies.
He added, “it is encouraging to learn that India has very high API adoption rates. The study clearly shows that investing in advanced capabilities throughout the full lifecycle approach to API management results in the greatest value and success.”
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