Application Programming Interfaces (API) have become key to many projects in the technology sector. Most technology experts argue that APIs will revolutionise the Internet through their use.
APIs are simple to understand and use, and can help revolutionise your organisation. Read on to learn more about how they work, and how you can use them alongside your business intelligence solutions.
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What is an API?
Whilst an API may seem complex, it is in reality a simple technology tool. It is a mechanism that allows software programs to communicate with another. These software do not have to be connected in terms of location, space, or technology.
For example, websites embed Twitter data via APIs and provide an overview of Tweet history.
Web APIs enable separate tools, built by different companies, to interact and exchange data. This is why some tech experts consider APIs are the glue of the Internet, as they bind things together.
What is the purpose of a web API?
APIs allow companies to embed third-party functionalities/data, generate new business opportunities, and ensure products reach new customers. This helps organisations find new markets to break into.
In fact, Twitter’s CEO is quoted as saying that creating a Twitter API was the best business decision they made, as the site became visible through third-party applications.
What makes APIs the new digital revolution?
APIs are considered revolutionary as they allow technology to evolve exponentially. Each company can also focus on its own developments, integrating whichever services or data it lacks through an appropriate API supplier.
Furthermore, API ‘mashups’ (where multiple APIs are combined into one) allow organisations to deliver a stronger option.
APIs have also become a new channel for companies, in the same vein as webpages and mobile apps. Some companies, especially those that offer relevant data and information, are aware of the value of the information they have. This allows companies to develop business models using APIs as a product.
How do APIs apply to business intelligence solutions?
API endpoints allow connection between different software, a function that applies to business intelligence solutions. For example, APIs allow open banking functionality to simplify the process of bank reconciliations for customers, amongst other benefits.
Sysynkt, an innovative new cloud XFMS, uses APIs to connect with an organisation’s base business intelligence software solution and provide streamlined modern capabilities. This includes applying Google AI to invoice capture and parsing, as well as MTD and true cloud procurement. API connections make this technology possible, creating more convenient solutions for users.
To find out more about Sysynkt or to arrange a demo, please contact our team. We would welcome the opportunity to show you what Sysynkt can do, as well as how you can bring your existing BI solutions up-to-date without expensive upgrade costs. Alternatively, an on-demand demo of Sysynkt is available on the BDI YouTube channel.
BDI is also running a series of free webinars focusing on specific Sysynkt features to demonstrate how the software can benefit your organisation in a range of ways. For example, Sysynkt’s Purchase Management capability benefits from API connections by allowing purchases to be easily tagged against budgets from third-party applications such as HubSpot. Best of all, Sysynkt is available with unlimited user licences meaning every team member can benefit from this centralised budget solution. Sold on an SaaS basis, Sysynkt is an affordable and positive addition to any organisation, no matter their size.
Find out more at The Summer Of Sysynkt – tickets available below.