Why you Need an API Integration Platform for your Business
Atul Gupta
CEO and Co-founder @ APPSeCONNECT | SaaSBOOMi SGx Winter 2022 | Empowering businesses accelerate growth with automated business processes | Co-Founder @ Inspiria | Making the youth employable & life-ready
API or Application Programming Interface acts as a mediator software that helps two applications to understand and communicate with each other. It is a part of everything we do. Be it using social media, booking a flight ticket, sending a message, or connecting two different applications, API is a part of all of it.
A great way to understand the concept of API is by using an example. Imagine you’re ordering something online. You place an order by communicating with the vendor. This communication that takes place is using API. It’s that simple!
If we talk about API and what it is in a nutshell, we can say that API helps a user in getting information from one application to another. Here are a few advantages that one would derive as an API user:
- Personalized Content: API enables businesses to get a clear understanding of the tastes and preferences of the customer. This allows businesses to make personalised recommendations and generate better customer leads and interactions.
- Automation: One no longer needs to make assumptions and interpretations manually. API does it all for you by managing all the workflow making business processes more productive and efficient.
- Fraud Prevention: API has various levels of security depending upon the type of API that you use which ensures that only authorized personnel have access to the data generated using API.
- Improved Competency: The information that is transmitted from one system to another is quickly intercepted and interpreted by API. This level of efficiency ensures information automatically available to every platform which leads to quicker and improved decision making.
- Adaptability: API can anticipate changes in terms of needs that arise in the due course of business. It used the technology at its disposal to analyse the information present within the system more closely and thus makes the service provisions more flexible.
Almost all e-commerce businesses are now shifting towards adapting to the use of API for their businesses.
A few examples of API to get a better understanding of the use of API:
1. Online Payment systems or digitally transferring money is the most common example of API since API supports most of these platforms to ensure secure and quick transfer of money.
2. API is used by communication and management tools like Microsoft Teams and Basecamp to ensure data being functionally available at all times.
3. Travel booking agencies use API to collect and manage information related to hotels and flights available from such service providers and thus are able to showcase the most cost-effective information on their websites.