Emerging digital business create novel products and services that cater to growing customer demands. To
remain competitive, traditional businesses need to adapt and offer their services in multiple devices
and channels. Application Programming Interfaces (APIs) enable this by allowing enterprises to expose
their business functionality externally. APIs provide a means of extrapolating additional value from
existing data and systems and allows organizations to transition from entities governed by centralized
IT to open IT that promotes self-service. APIs allow monolithic systems to be efficiently integrated
with each other in an atomic, compatible and agile manner.
API management involves managing the API lifecycle from creation, testing, documentation, publishing,
discovering and monetizing. In addition to this, an API management platform enforces security and
provides in-depth analytics on API usage. This ensures that the APIs are secure and consumable. API
management solutions can be deployed on-premise, in the cloud or in a hybrid of both.