Successful digital transformation will define whether a company will find the difference between success and failure in this coming era. APIs play a key role in the Digital transformation journey and are getting popular among enterprises to get flexibility for faster innovation. Now the question is how the economic recovery will be? But those discussions will actually miss the crucial impact of the historical moment we are living in. The reality is that no matter the shape of the economic recovery, the composition of the post-pandemic economy will be dramatically different. The fact is if companies that do not digitally transform will fail. We are six months into the crisis and, why are some companies doing better than others – and why are some doing better than before? The answer to this lies in one of the key indicators of the ongoing transition: it tends to be those companies that had already successfully implemented digital transformation and platform-based business models, or those that were able to quickly adopt digitalization.
The technology sector is always going to be more resilient in the face of the changes wrought by the pandemic. For all the companies that lost out to COVID-19-induced low consumer demand, there were many companies that were able to leverage digitization and digital transformation to come out on top. Digital transformation has not been limited to meeting customer demands; it has also enabled the increase in remote working and has cut down costs. Transitioning towards distributed workforce solutions, reducing physical customer interactions and moving to a managed services model can help companies to utilize digital transformation as a cost-effectiveness tool as well.
Secondly, the pandemic has shown the importance of technology and the challenging economic outlook and continued uncertainty are forcing CEOs to contemplate some difficult choices by taking decisive actions to make sure that when the crisis ends, they’ll be stronger than they are today.
Digital transformation can also be said as agile transformation. It offers various benefits in the short-term while also ensuring that the long-term, platform-based architecture is achieved that can create open, scalable, intelligent and connected platforms leveraging open APIs and datasets, service catalogues, an integration framework, micro services, collaboration tools and solutions for agile implementation of companies’ digital agenda. The world is moving on the application programming interfaces’s (APIs), which connects to the telecom resources on the cloud. API is a code written to protocols that allows disparate systems and applications to talk to one another with minimal intervention. Cloud infrastructure has made building APIs and consuming them very easy. We see most companies digitizing their assets and building APIs around them. The goal is to make everything software-driven
Lastly, the most important thing is APIs are shaping the way digital businesses are built. The recent technology trends shows, companies moving their data and applications to the cloud are cutting costs and widen accessibility. AWS, Azure and others have grown exponentially to provide cloud services. With APIs, different teams can interact with the same data and logic using multiple programming languages. Even with legacy applications, which require knowledge of old software, it becomes easier to work with developers with different skills and this becomes a key component in driving the digital transformation of the business – they empower developers to build applications across any channel and enable partners to incorporate the data or services into their offerings.