Application Programming Interface or better known as API is a set of digital functions and procedures that connects independent applications to each other. This connection brings about seamless integration of data and capabilities from various apps making creation of new apps easier and faster.

This digital efficiency results to unparalleled competitive advantages when done right. With APIs you will:

Impress customers

APIs can harness customer data that is useful in understanding your customers’ behavior, patterns, likes and dislikes. This customer data is as valuable as gold because it can guide your next business strategy in terms of product development, market targeting and improving customer experience. Personalisation is vital in today’s digital economy and with APIs you will have the ability to customize your offers to best satisfy your customers thereby increasing profitability and customer loyalty.

Capture new business opportunities

The agility of APIs empowers businesses to extend their value propositions to new market segments. Take Uber as an example. It started out as a simple car service app, but it then ventured on to several other industries — with UberFresh it disrupted the food-delivery industry, with UberRush it redefined package-delivery. By effectively utilizing APIs, Uber has extended their market pool and seized opportunities beyond their initial industry.

Reduce costs, increase profit

One of the biggest benefits of API technology is its ability to simplify the application development process. Having an interconnected resource pool enables developers to create new innovative applications so much faster. With APIs, developers don’t need to write code from scratch resulting to faster turnover of innovations. Decreasing the time needed to create new apps consequently decreases costs as well.

With APIs, developers skip a lot of the tedious repetitive coding. They are able to better focus on developing the unique capabilities of their new app making it more desirable to its intended users thereby increasing its profitability.

To experience the immense advantages of APIs, you need a team of API experts to support your innovation agenda. Building and maintaining APIs is usually stressful and expensive but not when you’re partnered with Groworx. Through Groworx’s Global Technology Services you can build API innovations with a world-class team of API experts for as low as $1,300 per day.

For more information, visit: Global Technology Services 

Source: Harvard Business Review: Are You Using APIs to Gain Competitive Advantage?