If you’ve used Facebook PayPal, or Uber, chances are you’ve experienced Application Programming Interface (APIs) without even knowing. Opening a traffic report and having real-time information available about the fastest route to take is an example of how APIs have impacted not only businesses but our personal lives for the better. APIs add value, improve the overall customer experience – and they can even uncover new revenue streams.
The benefits of adopting digital technologies are endless and has considerably changed the way we live. Consumers are increasingly interacting with businesses via apps and mobile devices than ever before. Whether it is to purchase products online, conduct personal banking or to book travel – we can do so from the palm of our hands.
As digital engagement and expectations increase among consumers and industries, companies are under pressure to improve efficiency, increase profitability and transform their value proposition to thrive in today’s hyperconnected world.
Having a viable digital strategy can make the difference between transforming your business and watching your competition capitalise on previously inconceivable opportunities. API’s play a foundational role in realising that strategy.
But what is an API?
An API is a set of routines, protocols and tools for building software applications. At their most basic level, APIs are a form of technology that allows different software programs to communicate. Depending on their purpose, APIs can be used internally, with partnering businesses or made available to the public. They save time with the automation of tasks and only needing to rely on one interface rather than several.
APIs are quickly becoming the standard by which companies exchange data, building smart, seamless, cross-channel experiences that consumers demand. It connects business processes, services, content and data to channel partners, internal teams and independent developers in an easy and secure way.
Leverage APIS and reduce overheads and human error
APIs open the door to agile innovation, improving the ability to adapt quickly to market changes and create the opportunity to gather a wealth of data.
APIs act as data pipelines that can be used by conveyancing firms to automate data entry and basic processes. Automated access to data does not mean reducing the need for skilled conveyancers like some may think.
Having automated data means streamlining conveyancing firm operations, increasing innovation, enhancing business development efforts – and helps to reduce overheads whilst increasing productivity.
To capitalise on new opportunities, your firm may need to overcome the challenges of legacy infrastructures as well as traditional organisational and development models and find ways to innovate at scale. By using APIs to automate traditionally burdensome tasks, conveyancers not only save time, money, and costly manpower but can also ensure the data being collected is more accurate and readily usable.
Delivering a competitive edge with interoperability and integration
We live in a world with an abundance of conveyancing tech software that’s readily available. Conveyancing firms and corporations are adopting many of these solutions to help improve different aspects of the business and practice. This means a conveyancer might need to access several different applications with different logins and user interfaces for a single project or matter.
If you want to distinguish yourself amongst other conveyancing firms in the industry, look to address current challenges through interoperability and automation of data. It has enormous potential to transform conveyancing processes, improve client outcomes and unlock the budget for technology investments.
Many conveyancing firms are realising they need a platform that supports a range of conveyancing workflows in a single interface. APIs offer a cost-effective solution by improving software interoperability and integration between different applications, streamlining key components of a conveyancer’s daily processes. By empowering conveyancing firms to collect information from the intersection of traditionally isolated data streams from various applications, APIs are swiftly becoming a driver for innovation and competitive success.
Implementing an API strategy at your firm
Today, many legal and conveyancing professionals understand that automation and process optimisation are essential to managing an efficient practice in an increasingly data-driven environment. With an understanding of how and why APIs enable digital transformation, the next question becomes: How can you implement an API strategy?
Is your firm seeking to connect with clients, digitise and streamline internal business processes, create new channels to work with partners or all of the above? Awareness of the various business considerations will allow you to better understand your organisation’s API needs.
API types that you can consider:
- Internal APIs for business agility and flexibility
- Partner APIs for collaboration and business development
- Public APIs for breakthrough innovation.
After you have defined the appropriate API strategy for your business, you can start adopting them to securely deliver new data-powered digital solutions to customers.
Streamlining processes with APIs providing a single point of entry is only going to continue trending because of the convenience it affords to everyday life. Combined with your legacy systems and enterprise assets, APIs can help you win, serve and retain your clientele.
GlobalX API Connect enables you to seamlessly access Australia’s widest range of regulatory information, technology tools and services the way that you want via our Application Programming Interface (API). For more information visit https://globalx.com.au/integration/