What Is Digital Transformation?

A key outcome of Digital transformation is in the creation of new business models and meaningful partner and customer ecosystems that allow a business to evolve with the times. Instead of trying to compete by bettering your existing products and services, digital transformation is about disrupting the norm and offering new services and products that transform your business.

Digital transformation is becoming a crucial boardroom discussion, with a recent IDC study proving that two thirds of CEOs place digital transformation at the heart of their business strategies. The process of digital transformation aims to automate, simplify and integrate systems in order to increase profits and streamline business through expanding ecosystems.

How does API management accelerate the creation of digital business ecosystems?

API Management is essential to digital transformation and is integral to providing seamless connections between digital assets. Whilst traditionally APIs have been thought of as functional assets that provide an easy interface for developers, they are now coming into their own as tools that can create new, innovative digital ecosystems.

When APIs are managed well, as products, they become tools to propel your business forward as they facilitate easy communication within and outside the business. Having mature, marketable APIs help other developers and partner businesses to access and integrate your data and resources for their specific applications thereby creating and expanding your digital business ecosystem. As APIs minimize barriers to change, they allow quicker product innovation and overall progress.

DigitMarketTM - a market leading product to accelerate Digital Transformation

In order to use your APIs effectively for transformation, your business may need products and services that help you create, manage and monetize them successfully. DigitMarketTM is a leading tool for simplifying the creation of digital ecosystems. Take a look at what you can expect from it below:

One platform that lets you optimize, monetize and accelerate your digital transformation initiative
Highly modular, out-of-the-box API Management capability with an integrated Marketplace to rapidly kick-start your marketplace business
Ability to use the Marketplace component with other industry-leading API Management products such as APIgee, WSO2, MuleSoft, CA Technologies etc.
Digit-IT services to assist you with securing the value of APIs
Fast-tracks the creation of digital ecosystems

Why Is An integrated Marketplace and API Management Solution Like This Effective?

Common business challenges can slow down your enterprise digital transformation initiatives. As a result, the focus gets diverted from realizing your digital objectives to addressing these challenges. To name a few:

Often, business leaders and people on the ground struggle to strategize and realize value from their digital transformation initiatives. Clear business objectives every step of the way, is the need of the hour
Publishing and managing APIs can require different platforms, unless these needs are evaluated upfront
Scalability can hold businesses back, with delays in developing, testing and exposing APIs

A solution such as DigitMarketTM is effective as it helps address these challenges. It has frameworks to help you strategize. It provides aids for clear thinking when setting your objectives for the digital initiative you plan. It caters to the needs of multiple stakeholders involved in the API Management Lifecycle - be it engaging with your community of users on a forum, promoting and rewarding the usage of APIs to advocating best practices. It is a highly modular, cost-effective Marketplace product which you can seamlessly use in a plug-and-play model with other products you may have invested in.

 

API Management can accelerate your digital transformation

When managed well, API can drive your business forward by seamlessly connecting your digital assets and expanding your digital business ecosystem. DigitMarketTM lets you create, manage and monetize APIs successfully.

Contact us today!

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Analyst Speak

September 22, 2020
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August 04, 2020
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Identify New Revenue Opportunities in the Open-Banking Ecosystem
IDC finds that European banks are seeking opportunities for data monetization, but only 20% are able to generate revenue from their data. Commercializing open APIs to build a banking ecosystem is still a challenge for many banks. Read this ‘IDC Technology Spotlight’ report to get the “how-to” of building a broader open-banking ecosystem.

Past Webinars

25th August 2020
Empowering your SME customers for the new DIGITAL normal: role of APIs and Microservices in the current climate
SMEs in particular, hard hit by physical constraints, acutely need to be digitally connected and empowered towards identifying sales and service opportunities.
31st March 2020
Microservices Governance: Best practices for CSPs
A well-thought-out governance approach can help offset the costs of implementing Microservices and deliver higher benefits from your investments.
21st November 2019
Practical use-cases to monetise Open Banking APIs
In this webinar, Thomas Zink – IDC research director for European financial services talked about the revenue potential of API enabled use-cases and how to overcome barriers to adoption.