Here’s a scenario that might sound familiar: you’re set to launch a digital transformation, but your budget is limited. You understand that APIs are a critical tool to digitize your company, yet you don’t know if you can afford to implement them.
Don’t let your budgetary concerns keep you from incorporating APIs. In this post, we’ll explore how you can still use APIs effectively to embrace digital transformation. Are You Ready to integrate?
The Role of APIs in Digital Transformation
To understand why APIs are a must-have regardless of your budget size, let’s explore their role in digital transformation.
APIs connect information sources to applications. They allow for information transfer in real-time – something EDI systems can’t do. They’re also “lightweight,” meaning they can run on mobile devices (something else EDI systems can’t do).
“APIs connect information sources to applications in real-time.”
As a result, they offer companies the following benefits:
- They enable B2B connectivity so that customers can purchase your products from online marketplaces and e-procurement hubs
- They speed up partner onboarding so that partners can start doing business with one another sooner
- They allow you to gain information in real-time, such as order statuses
APIs vs. EDI, or APIs and EDI?
Reports have swirled that APIs will replace EDI systems. That’s simply not true.
APIs and EDI systems each have weaknesses. APIs work best at firms that are already digitized, and they require the backbone of an enterprise service bus to operate. Instead of thinking about APIs as replacing EDI systems, consider them as a supplement.
“APIs supplement, not replace, EDI systems.”
APIs fill in the gaps created by EDI systems. EDI systems alone can’t connect to online marketplaces and e-procurement hubs – with APIs, they can. Moreover, EDI systems’ batch processing capabilities mean they can’t query information such as order statuses; APIs bridge that chasm.
How Can You Use APIs, Even If You Have a Small Budget?
Previously, it was a costly endeavor to develop APIs . Developers would create a personalized script that would adequately integrate all of a company's existing APIs. While that comprehensive approach would offer a thorough integration, it requires a great deal of time and resources, putting it beyond some companies' budget.
Now, connector applications have come on the market. They're mass-produced solutions that connect to popular software, so they'll easily accommodate integration.
"It used to be a costly endeavor to develop APIs, but there are new methodologies on the market."
Another method is to implement API integration management platforms. Typically, API integration management platforms are SaaS-compliant, although they're capable of managing API collaborations with SaaS applications.
API integration management platforms enable developers to customize a business' system integration without dealing with individual application programming. This option streamlines the initial development and implementation of APIs as well as business operations overall.
APIs: The Affordable Gateway to Digital Transformation
Cost doesn't have to be a barrier to API implementation at your company. Even on a limited budget, you can still reap the benefits of API and digital transformation. Integrate. Then Dominate.