The software has evolved from specific isolated subroutines to complex Internet-scale applications. Back in the days when API has been more generically described as a connectivity interface, software was merely a bunch of small code pieces, performing specific tasks. Fast forward to today, software is seen more as an application that interacts with people over the internet, and with that perceived as a product instead of code. We owe this huge change to the tech revolution that started last decade which created many complexities as well as the opportunities we have today.
As our understanding of API has changed drastically, how we conduct business is also changed with it. APIs are now complete business resources and, oftentimes, products in and of themselves. Which makes them essential to business success.
To be able to efficiently address continuously evolving customer preferences, digital transformation has become an inevitable necessity for companies. With the digital transformation they went for, many successfully built an API ecosystem which enabled them to effectively execute new and disruptive business models and increased their digital maturity.
They are more agile in the current digital economy and can offer new products and services faster than ever via fresh new channels. Success does not come with the digital transformation alone but with a clear direction that requires an effective API strategy.
Main aspects of an effective API Strategy:
An API strategy is a critical and uncompromising component of digital transformation.
Either you will use the API as a new technology infrastructure to enable your business to reduce time to market and cost of ownership of your products or you will use it as a strategic tool to re-define your business model, a good API Strategy has its must-have characteristics.
Some important aspects of a well-defined API Strategy are:
- It is organization-wide.
- It has a clear roadmap.
- It is consumer-driven aka it needs to be defined with an outside-in mindset.
- Your API Strategy is rather a Business Requirement therefore it requires a strong organizational alignment.
- It covers a complete governance model as well as a well-defined API Management Plan throughout the entire lifecycle.
- Evolves around your corporate and product strategy.
- A modern API design is a clear target.
- It aims to build an organizational culture around the API ecosystem as well as a clear goal for user engagement.
Why need an API Strategy?
Effectively executed an API Strategy is the main drive that will realize the important goals of your transformation project.
- It increases customer credibility as it will enable your company to flexibly respond to customer expectations.
- It creates new opportunities for the business that was not that easy before.
- API strategy enables your company to create integration tools that drive adoption, integrate effectively with partners, and scale internal operations, while also lowering the total cost of ownership (TCO) and maintenance costs.
- It enables new business models around event-driven business logic.
- It will increase the speed to market.
- It will increase productivity.
- It will boost company-wide innovation and increase business agility.
How to build a consumer-driven and effective API strategy?
There are different approaches to API Strategy but MuleSoft is the only company that offers a unified solution for composition, API management, and connectivity. Anypoint Platform, MuleSoft’s flagship product, has all the pieces of the enterprise agility puzzle. You can quickly get started on defining, creating, and maintaining your organization’s API strategy with Mulesoft’s proven model.
By choosing the MuleSoft Anypoint Platform, your enterprise can make informed strategic business decisions aligning along with your goals.
If you are interested to hear more about how Mulesoft’s proven model for an effective API strategy works, we invite you to read the blueprint available in the link below and/or reach out to us.