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Today’s market requires organizations to package and monetize APIs at scale for powerful growth amid global challenges, and the report addresses creating opportunities for customer success across industries, from healthcare and pharmaceuticals to supply chains, retail, banking, and manufacturing. In the report, Axway’s experts weigh in on what’s impacting the business technology landscape and shaping customer experiences:

“The shift to product thinking and culture is finally happening, reflected in team organization and change management. A product-centric application delivery model will make it easier to adopt digital marketplaces and enable raw integration assets to be packaged as valuable business capabilities,” said Brian Otten, Digital Catalyst at Axway.

“A shift from API creation to API consumption will gather steam as use of API marketplaces to package and categorize APIs as products simplifies adoption by developers,” continued Axway’s Senior Director of Platform Marketing, William McKinney, who added that, “this will require greater emphasis on API security.”

With the war in Ukraine surfacing the fragility of cloud-only systems and African nations attempting to fight off digital colonization, regional challenges are heightened. Axway Business Program Director and Catalyst, Emmanuel Methivier noted, “Whether it’s disruption in electronics production due to Covid or political decisions blocking digital activity, regions around the globe each face a unique set of obstacles that enterprises must deal with.”

On the global financial front, Head of Open Banking at Axway Eyal Sivan added, “Regulatory moves from the U.S. and Canada will inevitably cause market players to ramp up their own plans, as has already started to happen in Canada, leading to a significant first wave of open banking adoption in North America in 2023. Expect to see incumbent banks, fintechs, and aggregators alike all step up their open banking game.”

In another key sector, Ruby Raley, Axway VP Healthcare & Life Sciences observed, “As portals take center stage and healthcare organizations look to existing investments and multiple clouds for productivity gains, APIs are the way forward for automation and DSCSA 2023 compliance.” Raley also shared that, “As new dollars for investment are harder to get in a difficult economic environment, ‘Recycle, Reduce, Reuse’ will be a mantra of CIOs everywhere. Paradoxically, those that are successful at modernizing are actually those that will be the best at repurposing what they already have.”

And Axway CTIO Vince Padua sees businesses “fine-tuning the groundbreaking data integration technologies of recent years—and questioning others—to gain better traction in delivering innovation and improving partner ecosystems.”

The Looking Forward report includes a host of other insights around API automation, managed file transfer (MFT), B2B integration and, of course, opening data as fundamental to creating new customer experiences, new services and expanded markets.

“Axway’s products, accomplishments, and insights are all about leading enterprises to solutions that securely open data and package APIs as products to offer brilliant customer experiences,” said Axway CEO Patrick Donovan. "In a world of shifting technologies and wider uncertainties, Axway is devoted to supporting customers as they build new revenue streams and fire up innovation, while controlling API sprawl and system complexity.”

In a new video interview, Peter Weill, Sr. Research Scientist & Chairman Emeritus at the Center for Information Systems Research, MIT, explains that next-gen digital ecosystems are based on a platform approach. “The problem we’re seeing right now is that transformation is stalling in a number of organizations because they have multiple efforts that are not well coordinated. The best companies turn to a platform as opposed to having lots of pseudo transformations,” said Weill.