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The Significance of API Development in your Business Growth

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What is an API?

API or Application Programming Interface is one of the essential needs of small, medium, and large-sized businesses. It is a combination of protocols, tools, and subroutine definitions required to create an app or software.

An API helps software programs or services to connect and communicate. It offers access to work with the backend; hence the API development can also be considered as the backend development. In short, API is an interface that facilitates software to software interaction.

The Application Programming Interface can be categorized into two types- Internal and External. The former is used within an organization while the latter can be accessed externally by consumers. Google Maps, Amazon Product Advertisement, and Twitter some of the famous examples of the API.

How APIs lead to your business growth?

An API helps to simplify and guide business processes and operations. It acts as a backbone for a business’s digital strategy. Below are the other benefits of API that drive the growth of a business:

  • Time to market- Developing your product or service to make it available for sale in less time is an excellent achievement for a business. It not only helps to outdo your competitors but also saves enormous development cost. An API assists organizations with faster product delivery.
  • Improved security- An API facilitates a smaller code base, which makes it easy to find out security flaws. It also makes the application less prone to cyber-attacks.
  • Less complexity- An API minimizes the size and complexity of codebase a developer has to work on.
  • Superior functionality- With an API, developers don’t need to write the code from scratch to add weather information in an application. They can use a simple software message to communicate with a third-party weather API.
  • Access to new business models- An API helps in generating high revenue for a business by exposing its services to new business models. For instance- a popular travel booking portal, Expedia, gets 90% of its revenue through APIs.

Why your business needs an API?

Your startup or enterprise needs an API:

  1. To boost sales and revenue
  2. To improve customer reach and value
  3. To support and simplify sales and marketing activities
  4. To lift your business processes and operations
  5. For business stimulation and technical advancement
  6. To implement new technologies
  7. To reduce cost and time to market
  8. To offer an unmatched digital experience to the targeted audiences
  9. For integrating backend data and application

How to create an API strategy for your business in 2020?

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Keeping the benefits and value of an API in mind, businesses all across the world are inclining towards investing in it. To create the best API strategy for your business, the first recommendation is to focus on your customer experience and business strategy.

Consider the objectives and goals of your business and the decisions that will help you to achieve them. After finalizing, choose the type of API that serves your purpose. The main four pillars of a successful and fruitful API strategy are:

  1. Identify your business strategy
  2. Structure of the organization and environment
  3. Assess, create, develop, and deploy the required technologies
  4. Involve your users and consider your API as a real product

What to consider before beginning the API development?

While starting the API development on your own or assigning the project to a top mobile app development company, make sure the following:

  • Go through the API documentation to have an idea of it.
  • Create a record of the type of API
  • Ensure that your business has an open and API-forward structure, which can make it easy to do the changes in the future.

To make the most of an API for your specific business type, connect to a reliable and experienced custom mobile app development company. You can provide your specific requirement to the company and get a customized API solution that can improve your business growth and leads to its success.

Final Words

API development plays a significant role in your business growth; it simplifies your business processes and allows the developer to write code in no time. Moreover, it also relieves the developers from the effort of creating a solution for integrating advanced technologies to a web or mobile application. They can simply do it by using API, which helps in communicating with other software programs.

An application programming interface works in the background to provide us with the access of information as well as the technologies we need to accomplish a particular task. Besides offering business benefits, an API also offers operational benefits that give businesses a chance to unlock their growth potential.

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