Enterprises these days rely on services and applications that are composed of multiple elements that must be tightly integrated and work together. That means the application programming interfaces (APIs) that make services and functions available to others, and allow businesses to monetize their offerings, are all the more important. And as such, there is an increased need for API standardization.
That message came through loud and clear in two recent surveys. In one, MEF, a global industry association of network, cloud, and technology providers working to accelerate enterprise digital transformation, surveyed 122 global service providers and found that those using standardized business APIs realized, on average, a 25% reduction in order cycle times.
