DataScan has embarked upon an API strategy for its market leading wholesale finance software platform, Wholesale Intelligence (Wi). Over time, this strategy will result in a comprehensive library of APIs that will enable DataScan clients and third parties with the appropriate security credentials to access data and functionality within the Wi system, using standard HTTP protocol, for integration with other systems.
APIs have emerged as one of the most accessible ways for business users to extract value out of data. According to MuleSoft’s Connectivity Benchmark Report, 91 percent of IT decision makers have implemented an API strategy or plan to do so by the end of 2016. 52 percent said a top reason for leveraging APIs is to increase business agility and enable lines of business to self-serve IT assets.
Organizations are recognizing that APIs provide real business value. For example, eBay has more than doubled its annual revenue with APIs. eBay’s API allows developers to create programs that submit items for listing on eBay, display eBay listings on other sites and receive high bidder information for items being sold, among other things. Increasing its level of exposure through APIs, eBay is able to drive more revenue. In fact, APIs generate 60 percent of eBay’s revenue, 50 percent of Salesforce’s revenue and 90 percent of Expedia’s revenue.
MuleSoft provides the platform that will allow DataScan to manage the design, development, deployment, and the documentation of its APIs. MuleSoft works with organizations across industries, including public sector, financial services, healthcare, and retail. The company serves 4 of the top 10 global auto companies and 4 of the top 9 global banks. MuleSoft’s Anypoint Platform is a complete solution for API-led connectivity that creates a seamless application network of apps, data, and devices, both on-premises and in the cloud.
Benefits to DataScan clients of API strategy
- Make it easy for DataScan clients to access data and system functionality in the Wi system for internal integration needs
- DataScan clients will be empowered to customize the use of the Wi product to better fit their needs and workflow and to integrate DataScan’s products with their internal applications
- Integration with third-party systems to provide value-added functionality
- Create synergies between DataScan’s Wi product and third-party vendor-supplied systems
- Enable partnerships with leading financial software and data providers to drive value and seamless integration for DataScan’s clients
- More granular security model
- API end-point and field-level security will enable DataScan to enhance its existing role-based security model
- The Wi product can be enhanced with minimal coordination among DataScan and client or third-party development groups
- Additional value can be created in the Wi product outside of the regular product development cycle
- APIs can be deployed using a distributed hardware or cloud-based model, thereby providing application scalability and increased security and performance
- Through reusability, core functions that would be of benefit to mobile applications can be exposed.
This partnership between DataScan and MuleSoft will introduce a whole new way for DataScan’s clients to connect the Wi application to its internal application networks and to access and manage Wi data and system functionality. An application network is built using APIs to connect applications, data and devices, making them pluggable and reusable. By making the Wi application plug-and-play into application networks, DataScan will help its clients achieve business outcomes faster, and be better able to respond to changes in the market, the business, and end customers.
By Matt Powell, Vice President of Business Development for DataScan & Ross Mason, Founder and Vice President of Product Strategy of MuleSoft1 - Reader Likes This Post