The role of APIs and the benefits of API Management
APIs teach IT systems to talk to other IT systems, people, sensors and pretty much everything else around us. They gather valuable (customer) information and give access to your systems.
Controlling your APIs from one manageable location can be achieved by using an API Management platform or solution. The beauty of APIs in an API Management solution is the fact that they are not coded, but instead configured. Meaning, they become reusable assets and you get to combine or edit to meet your business needs.
Speaking of business needs, APIs open up a lot of cool integrated collaborations. APIs allow you to add specific services to your products without it affecting your core business. It is value creation through collaboration. Partnering up with third-party providers allows you then to explore new business models.
But who will guard your services and data, and track the user behavior? The solution lies in a centralized approach through an API first strategy. Below, we’ll share our thoughts on the key requirements.
Governance and access policies
APIs are easily shareable. You hand out keys to your IT professionals, so they can get to work wherever they are. Same goes for the users of your applications, who gain access to your services with one click of a button. Your API Management solution should help you govern and monitor all your APIs and their keys at the same platform. Here, you publish and update your APIs, and monitor access and usage.
Security and interventions
If you make your services available to internal and external users, it’s crucial to know who enters your domain, what they do with your data and why. Second, you should be able to take action within seconds. An professional API Management solution (or API Gateway) gives you power over your services and data infrastructure by locking all entrees but the front door. At this front door, API policies, auditing and logging should be deployed to identify and approve users that want to enter.
Do you want to eat, or do you want to be eaten? That’s what we thought. To survive in this digital world, you need to innovate. API monetization will definitely help you here, as they enable you to create new business models. With APIs, you can charge your consumers based on the time they spent in your applications, the amount of data they consumed, or any other parameter. So, with a little twist, you can turn services or data into money.
The world as your IT department
You probably have some highly intelligent IT professionals working for you. But there’s no way they outsmart the world’s population. With an API Management solution, you can share your APIs through an open platform and have both internal and external developers contribute to your business. This cures the familiar IT delivery gap and helps your team make better services. It also speeds up the time-to-market and by that, continuous innovation is within reach.
Your API Management solution is the collaboration space where API consumers and providers gain access to the things they need, such as the API store and the API publisher. Everything they do and all the data they gather is worth analyzing, as you can use this information to optimize your services and improve customer intimacy. This makes your API Management solution the epicenter of collaboration, data collection and analytics.
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The best API Management solutions for you
APIs open a world of possibilities for your business. Create, manage, and govern these connections with an API Management Platform. Yenlo offers you the best API Management solutions on the market. Allow us to help you find the one for you.