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Here’s What You Need to Know About the API Economy and How It’s Changing the World

Have you ever wondered how your phone accesses all the information it does such as traffic updates, weather, geolocations, the news, etc.? The device doesn’t store this data, so where does it come from?

The answer is simple: Application Programming Interface a.k.a, an API.

APIs establish connections between different parts of a single app or two different applications, acting as a channel of communication between software programs. APIs facilitate operations both internally, within your company’s infrastructure, and externally, enabling transactions, authenticating people and purchases, and providing information and data.

In simple terms, real-time traffic updates in your Google Maps are a result of an exchange between two software programs. Your device is connected to a map service which allows it to source traffic updates via an API.

Now, think of a multitude of APIs creating a vast communication network; this network is called the API economy.

The API economy allows companies to streamline processes and introduce products/ services with greater speed, responsiveness, and cost-effectiveness.

The benefits of the API economy are significant: extend your reach, leverage data more effectively, create personalized user experiences that matter at a minimal cost, optimize resources, and generate additional revenues.

TRIYO creates an API economy through its ability to integrate with existing systems so data is gathered in the backdrop, while users continue to work in their day-to-day applications.

TRIYO accomplishes this by integrating itself with the APIs of existing tools such as MS Office Suite, JIRA, GitHub etc. It creates an API economy within the Word/Excel/Outlook/Teams toolkit by enabling real-time document parsing, task assignments, project management, and granular level capture of compliance and efficiency data.

It can handle complex tasks such as uploading external documents, and enabling digital approvals for uploaded content.

Learn more about the systems that TRIYO can embed itself in here.

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