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!
So, now that we have a basic understanding of what API is, let us discuss the role of API.
Role of API in Business
- The most important role that API plays is that it allows one software to interpret and in-turn communicates with the other software platform.
- API plays an essential role in making sense out of data. Without API converting the information that travels across different platforms into a coherent context, no communication can take place between various platforms.
- API also facilitates removing any restrictions that exist when it comes to receiving access to information that comes from a different system.
- API helps in fraud prevention because of its authentication and authorization settings.
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. So what are the different types of API that can be used?
4 types of APIs that can be used:
1. Open APIs: These APIs are built in such a way that there are no restrictions when it comes to accessing them since they are available to the public.
2. Partner APIs: As the name suggests, such APIs have restricted access and one needs certain rights and licenses in order to access data through them.
3. Internal APIs: The information is only available within the organization and hence is also known as private API. This is usually used to share information within various departments of the organization and hence is not very popular.
4. Composite APIs: This kind of API runs a series of tasks that run all together as a consequence of the executions that are made. So, essentially, this kind of API combines various data and service API.
Advantages of API:
Businesses all over the globe are employing API integration platforms to communicate between systems. Here are the reasons why an organization needs systems that support API integration:
- Personalized content: API enables businesses to get a clear understanding of the tastes and preferences of the customer. This helps the organizations to make personalized recommendations and in turn, leads to better customer interactions.
- Automation: You no longer need to make any assumptions and interpretations manually. API does it all for you! It manages 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 has 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 quick and improved decision making.
- Adaptability: API can anticipate changes in terms of needs that arise in the due course of business. It uses the technology available at its disposal to analyze 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 in their businesses!
API Integration Platform to connect multiple applications:
Hundreds of business applications exist today and in order to operate a business in a streamlined manner, these applications need to talk to each other. For this purpose, you need an API Integration platform. An API integration platform bridges the gap between two disparate applications and connects these systems with API-led connectivity. While there are many reasons for employing an API integration platform, businesses make the most use of it by seamlessly integrating systems and efficiently increasing their productivity. With growing digitalization, it is crucial for businesses to start involving in iPaaS.
With an API integration platform in place, organizations can make sure that they have the capabilities to effectively integrate these new technologies as they grow and mature.
APPSeCONNECT, a robust business application integration platform works with the help of API-led connectivity to integrate various applications and nurture the smooth running of a business. Because the platform uses APIs, it is a platform that can more than what we expect. APPSeCONNECT can integrate seemingly disparate applications and software with the power of APIs at hand and deliver a smart API integration experience, which seeks to remove the gap between digital systems. With this, APPSeCONNECT can now consolidate data of any platform with compatible APIs.
Now, you can easily connect your line of business apps under one single platform to automate the business process!