Why is it so important to have a positive plan in place for API ROI? First off, what is an ROI? An ROI (Return on Investment) according to Wikipedia is “the ratio between the net profit and cost of investment resulting from an investment of some resources. A high ROI means the investment’s gains compare favorably to its cost. As a performance measure, ROI is used to test the efficiency of an investment or to compare the efficiencies of several different investments. In purely economic terms, it is one way of relating profits to capital invested.”
By having an open API system, “you are able to streamline your services from accounting, e-commerce to CRM to name a few.” This allows for more real-time decisions to come to fruition within your business model.
Increase your company’s bottom line
To increase your company’s bottom line, you need to make your API an open API platform as well as modernize your API strategy. This will help manage your assets, so you will have more control over the direction of your APIs. In the world of APIs, availability is the key contributor to real growth. You will have more accessibility to deliver a fast turnaround for success in your business by incorporating this model. Thanks to many combinations that are available in the API industry, you will also save time and money. This contributes to the monetary API ROI.
Create real value for your API ROI
Let’s cut to the chase, if you want your customers to use your APIs on your open platform, then your APIs need to deliver—pure and simple! It’s important to start off at a good rate and then you can build up your API to the place it needs to be. Customers want a system that delivers for their part; they are not interested in lackluster APIs. That’s why it’s important to find the right balance for API ROI.
Check out this White Paper to discover more about positive API ROI.