The application economy has forced a shift—with traditional brick-and-mortar companies expanding business models to include digital engagement. The app is now the face of the organization and fundamental to improving customer loyalty, reaching new markets and differentiating products and services.
What once could have been viewed as a “constrained” business model (with service access limited to the storefront or a website) has been unlocked, creating tremendous opportunities to increase revenue. And the API is the new distribution channel that is allowing companies to monetize and capture the full value of products and services in the form of data.
Organizations can use an API to create new revenue streams in several ways. The most direct is to charge external developers, partners and even internal departments for access to this interface and the valuable data it exposes. But charging for API usage in a way that allows enterprises to attract, collect and retain money from API consumers presents a number of technical challenges.
Accurately charging for APIs requires a standardized order fulfillment process with flexible and integrated billing systems. Without this, billing discrepancies can often occur, devaluing API projects and impacting customer satisfaction. A full-functioned pricing system for API monetization will support:
The CA API Developer Portal–part of the industry-leading CA API Management Solution–delivers API monetization functionality that addresses both of these business models.
The CA API Developer Portal makes it simple to create a branded website through which developers can learn about, register for and leverage enterprise APIs. The enterprise can easily add billing and payment functionality to this online developer interface in order to support the full range of relevant business models.
The API Developer Portal provides a single location where the enterprise can price API assets, project revenues and update billing engines. The Developer Portal’s API monetization functionality enables API providers to: