Benefit from API Integration as Part of Your B2B Strategy

By weaving APIs into your B2B strategy, you are enabling new digital business and real-time patterns for document exchange. You are also taking steps to help drive an 'API First' design principle, and API-enable existing applications and systems with the following benefits:

• Parallel Software Development
  APIs can be developed and tested simultaneously.
• Reduced Risk of Failure
  APIs enable organizations to grow rapidly and adapt to changing user requirements with greater ease.
• Improved Developer
  Experience Developers can effortlessly retrieve information and utilize it to create applications.
• Optimized Development
  Costs Building an ecosystem of APIs as products and channels makes code more extensible and reusable.

According to Gartner, by 2023, over 50% of B2B transactions will be performed through real-time APIs versus traditional approaches.¹ APIs are already being used for B2B/EDI integration. They are often the best approach to integrate partner ecosystems across company boundaries for supply chains, or financial services. Some example features and benefits include:

• Fully automated exchange of structured business documents
  Reduced transaction times / increased levels of straight-through processing
• Synchronous transaction support
  Real-time visibility into transactional status
• Direct system connections without intermediaries
  Increased reliability due to fewer touchpoints
• Faster and easier error correction
  Reduction in effort and cost
• Granular business processing
  Mitigation of latency without batch processing
• Accurate, consistent and up-to-date information
  Increased quality of service across business processes

The API Shift in the Supply Chain

The enablement of real-time processing is the main reason why APIs are becoming so attractive for use in supply chain processes, especially when it involves integrating third-party logistics partners: business departments don’t want to wait overnight to receive updated shipping (or other) information.

Case Study: A Large Auto Manufacturer

When this company’s suppliers release an Advanced Shipping Notification (ASN), it’s immediately posted into the company’s business application, where an inbound delivery is automatically generated. If there are inconsistencies, the ASN is rejected and the sender receives a detailed notification, in real-time, directly in their related business application. All parties involved have full transparency on the process status.

Errors can be corrected immediately with minimal effort and manual work. Above all, the supply chain process is dramatically improved, which is important for time-critical processes.

Today, instead of forwarding business documents in a single batch process e.g. overnight, the company’s collaborative business processes are now executed faster, with all parties having accurate and up-to-date information.

APIs as Part of a B2B Strategy

Recognizing the power of APIs, business departments today are seeing the value of synchronous, real-time communication with business partners. API-based information exchange can be used to improve existing B2B integrations, expand collaboration, increase customer loyalty, attract new customers and reduce operational costs. Some examples of this include:

• Faster transactions: utilize up-to-date product / price data and real-time order call, confirmation and supply chain processing Watch Video
• Better supply chain visibility: improve information exchange with logistic providers
• Multiple digital touch points for customer service: integrate a wide range of different procurement systems, exchange platforms or marketplaces