Tips for Setting up Company's API strategy for business expansion.
Updated: Nov 24, 2022
Nowadays, Application Programming Interface or API strategy is one of the top priorities for CIOs and CTOs. According to Janelle Hill, Chief of research for Gartner’s CIO practice, “The CIOs new purpose: equip and empower others to safely build digital capabilities, channels, and products that drive growth/ revenue, save money, and minimize risks.”
We all know APIs transfer data across a full stack of applications to support digital processes inside and outside the organization. APIs are the glue that keeps digital transformation and innovation intact and progressing forward, but with these new opportunities for revenue growth comes the risk of more hacker attacks. According to a Gartner report, web applications already have 40% of their attacks come through APIs instead of user interfaces. That is why it is vital to have the right approach to implementing the company’s APIs.
The essential six steps must be taken to medicate the risks and allow expansion and proper management of the company’s APIs.
Step 1. Align business and IT
Step 2. Partner with customers to identify near-term opportunities
Step 3. Select an API platform vendor
Step 4. Implement security and governance framework for APIs
Step 5. Identify products and channels for selling them
Step 6. Develop a roadmap for creating service components for all digital products.
I hope this helps provide some guidance on an organization's API approach. However, if you would like a more detailed overview, do not hesitate to reach out to me at firstname.lastname@example.org.
I have years of experience building Technology and providing Technology Due Diligence as a CTO, and I am available for fruitful discussions.