Despite APIs being a significant engine for business growth, most companies have not yet created a formal API Strategy.
Previously we discussed how APIs evolved to become a critical digital business enabler, in this blog we’ll identify common questions that businesses ask when looking to gain more business value from their APIs.
Whether your business has a clearly identified driver or not, APIs are a digital asset and pervasive in new technology stacks. They are springing into existence in your organisation whether you like it or not. With that in mind, it’s better to have a plan on getting the most value from the growing numbers of digital assets that your organisation has at its disposal.
In the early stages of planning and strategising, you’ll come across a lot of questions:
- What APIs do you have and what APIs do you need?
- How will you drive business value from APIs?
- How will you make the right investments at the right times?
- How will you lower risks as API demand and API numbers rise?
- How will you manage an ever-increasing set of APIs?
- How will you catalogue the growing numbers of APIs at your disposal? Do you need to?
- How will you secure your APIs?
- How will you track who/what are using APIs and your data?
- How do apps and systems consume APIs?
- How do you know what APIs and integration patterns are right for your business?
- What part should APIs play in the enterprise architecture?
- How will you identify, design, and develop APIs?
- How will you deliver APIs?
- What technology options do you have?
To answer those questions, you need a strategy that:
- Provides clear answers and direction.
- Assesses your business strategy and needs, as well as organisational and technology current states.
- Defines and verifies your API business and technology direction and informs you of what you need to get there.
- Gives your business confidence and drives faster progress to business outcomes.
With APIs critical to business outcomes, an API Strategy is now a crucial part of business strategy. The IntegrationWorks API Strategy service brings together over a decade of experience in providing clients with strategic API leadership across a wide range of industry sectors. In the next blog we describe the IntegrationWorks API Strategy and how we can help.
Interested in how an API Strategy could help your business? Read the next article in this series.