The rise of the application economy has driven companies everywhere to re-think their traditional use of application programming interfaces (API) and focus on opportunities to leverage external APIs in their own apps, as well as use APIs to make their apps open to external developers.
This expanded focus means that APIs are critical, not only to achieve operational efficiencies, but also to truly enable digital disruption. In fact, in a recent survey, the most elite group of “Digital Disrupters” are 2.8 times more likely to leverage APIs to enable a robust third-party ecosystem.
Companies that get this right are seeing significant results. Those with advanced API implementations (as compared to those with limited ones) are:
- 2.6 times more likely to have seen a faster delivery of revenue-enhancing apps
- 3 times more likely to be leveraging third-party innovation
- 2.6 times more likely to have improved delivery of the customer experience
- 2.3 times more likely to have lowered IT-related costs and risks
This paper provides an actionable checklist of nine critical steps you should be taking now to enhance your use of APIs, and the survey results enable you to assess how your progress compares to those of your peers who have advanced, basic or limited API programs.