CA Technologies: Some 88 per cent of enterprises globally currently use APIs to improve their competitive differentiation
CA technologies commissioned Coleman Parkes Research to survey 1,770 senior business and IT executives worldwide. According to findings, 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. Fifty-four percent of respondents believe their use of APIs improves their competitive differentiation.
As general definition, API stands for a set of commands, functions, protocols, and objects that programmers can use to create software or interact with an external system. It provides developers with standard commands for performing common operations so they do not have to write the code from scratch.
In this context, CA Technologies set out to understand how enterprises are using APIs, the challenges they are facing in doing so, the business impact their API programs are having, and the use of advanced, full lifecycle approaches to API management.
Meanwhile, businesses are using APIs to absorb data from partners, in order to add essential services to their apps such as maps and payment functions—without having to write completely new code. Startups and established firms alike are leveraging APIs to expose powerful data from legacy systems to billions of smart devices. As end-points for data, these connected devices (often called the Internet of Things) require highly scalable and manageable APIs for their connectivity.
The research made a compelling case for API use— and more importantly, for having a sophisticated approach to managing the full API lifecycle. Their findings revealed that:
• API adoption is high: some 88 per cent of enterprises currently use them.
• Around a third of firms use APIs to drive revenue (33 per cent) and improve speed-to-market and innovation (34 per cent).
• The majority of executives (54 per cent) believe that their use of APIs helps differentiate their business from competitors.
• More than seven in ten organizations measure the effectiveness of their API programs through a range of external-facing metrics that go far beyond traditional internal measures. These include: – Customer experience (72 per cent) – Digital reach (72 per cent) – Customer satisfaction (71 per cent) – Speed-to-market for new apps (72 per cent)
• Enterprises with advanced API management processes experience up to 47 per cent better business results than those with basic API management.
• Respondents in advanced organizations are almost twice as likely to express confidence about differentiating themselves from competitors. Application programming interfaces (APIs) are not a new technology. But in today's app economy, they have become vital to almost every aspect of business success. In fact, 88 per cent of enterprises surveyed for this report are currently using APIs.
Also, the research states that APIs cut the development cost of innovation and market entry. They underpin the rapid execution of ideas to seize commercial opportunities. They allow organizations to deliver exceptional customer experiences; create new revenue streams; and connect employees, partners, apps, and devices to the data they require—anytime, anywhere. Firms are reaping the business benefits of API use. The majority (54 per cent) of executives believe that their APIs are highly effective at differentiating their companies from the competition.
In addition, APIs are having a positive effect on all of the measures being used to evaluate their business impact. Respondents reported significant improvements in KPIs such as customer satisfaction (43 per cent), transaction volumes (42 per cent), and IT cost reduction (41 per cent). And they reported that APIs enable them to get apps to market some 18 per cent faster.
More, around three quarters believe that their use of APIs has significantly enhanced their customer experience (75 per cent) and digital reach (73 per cent).
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