Starting a new API management project? There's a lot you need to know in order to succeed.
The Biggest Questions Your API Management Project Needs to Answer
Some of the biggest questions you need to answer when starting an API management project are...
"What will this project do for our company?"
"What value will this project yield?"
Do you know the answers?
In the world of API-first strategies, these questions are common. You need to build robust cases to demonstrate business value. But this sometimes slows down projects. It can even change your initial strategy.
But it doesn't need to.
When you partner with Akana, we'll help you define the business value of your strategy. That's why we set out to establish critical industry KPIs and benchmarks.
The ROI of API Management
In the webinar below, we introduce you to key concepts of API ROI. This will help you answer tough questions from executives and prove the value of your API management project.
Executives Ask Tough Questions
CFOs and other C-suite leadership like asking tough questions before approving projects — and, more importantly, approving funding for new initiatives.
What will this do to increase our profitability?
Why do we need this?
What is this doing for us?
Why might your CFO be asking these questions?
There are two drivers.
1. History of APIs
First, there is the history of APIs themselves. Twenty years ago, APIs were seen as cool projects for marketing or sales. APIs and API management have since evolved. Today, APIs are critical controlling systems, reducing costs, and improving IT efficiency.
In the last several years, they have evolved further to the point of becoming mainstream in global business. CFOs and other executives, now know what API management is and why it is important. It has become a mission-critical strategy to avoid becoming overran by the competition. Netflix's disruption of Blockbuster serving as a poster child of what could happen.
2. Value of API Investment
Second, executives want documented proof of the value of this investment.
They want to know:
- What the API management project will cost.
- How long until the cost is recouped.
- What is the business outcome today.
- What is the outcome in the future.
👉 Become an Expert
Back to topHow to Get Results From Your API Management Project
There are six key areas to pay attention to in order to get the right results from your API management project:
- Revenue Optimization
- Time to Market
- IT Efficiency
- Security and Compliance
- Operational Efficiency
- Cloud Deployment
Some of the API performance indicators we measure in these areas include:
- Cost and Risk of a Data Breach
- Efficiency Targets Associated With Publishing and Documenting APIs
- Reduction of Application Maintenance Cost Through Rationalization
- Increased Revenue Due to Reduced Time to Market
Your Easy Path to Results
Take the easy path to results for your API management project. Try Akana for free for 30 days.