How API Will Transform Your Business With Global Trade Data Integration?
26 May 2023
In the technologically advanced world, we are
following in the footsteps of a tech-savvy way of doing business. Businesses
are transforming by indulging in the footsteps of the new technological
advancements being introduced by the pioneers of any particular industry. One
of the advancements businesses are taking advantage of the data is through
Application Programming Interfaces (APIs). APIs are shaping the industries and
the way businesses are strategically executing their business operations and
building work models to generate revenue.
What Is An API?
An Application Programming Interface (API) is a type
of software that allows the application of one organization to communicate with
the system of another organization. This helps in sharing the required data
between both organizations with ease and a level of security.
Application Programming Interface is not a new
technology that is being developed recently, instead, it is a kind of business
application that has been developed way back in the 2000s, while its history
dating back to the years of 1940s-1970s.
APIs are particularly important for B2B communication
where one is looking for a business model tailored to their specific needs and
requirements, allowing seamless integration of appropriate datasets into their
applications without needing to have any physical exchange.
How Does It
Work?
The model and mechanism of APIs work on building a
bridge between the business model of one organization and the
application/software(s) of another organization. The bridge allows the seamless
integration of requirements with specific codes, which allows processes to take
place.
Requests and Responses – a simple pattern of
communication in an application programming interface that initiates the model
of the data integration process. The specific codes designed enable the
application to set up a model for exchanging specific information with another
party.
The process of data integration through Application
Programming Interfaces (APIs) can be understood as –
● Connection With Business
Systems
The integration of data begins with
the first step of initiating communication with the other party’s systems and
applications, allowing the integration of data in the next step. Our system
connects to your business systems to allow the integration of crucial trade
data.
● Setting Up The Data
Integration
The second step is to set up an
integration process of our import-export data into your business’s application.
With the help of cloud computing, our API system will set up a connection
between your system and our database to make way for data transfer.
● Database Access In Workflow
With the data integration between
your system and our database handling system has been established, your
workflow will begin to reflect the changes to be taken place as per the
communication of both the systems, your requirements, and usage of the APIs.
● Pricing As Per The Usage
The pricing structure allows us to
calculate the amount of data transferred into your system through the use of
Application Programming Interfaces (APIs). It defines the pricing structure as
a “Usage-Based” model, which means you will only pay for what you use.
What Are API
Benefits?
Businesses from different backgrounds and sizes take
advantage of the APIs in different ways that can differ from business to
business, including their work model and daily business operational
requirements.
The basic benefits of using the application
programming interface can be in the form of:
● Faster Communication
The data integration of global
import-export data gives instant access to our comprehensive database of over
190+ countries and allows a quick transfer of required information to evaluate
the findings, strategize plans, and implement the ideas.
● Better Target Lists
Our database consists of a variety of
profiles of different companies, ranging from small-scale companies to large
multinational corporations. With the integration of data, you can access all
the information on specific companies to identify potential prospects.
● In-Depth Details
With a wide range of information
available in our database regarding the trade between countries, you can
interpret the market trends, determine the market share and find better
alternatives to find locations where you can conduct your business in.
● Thorough Analysis
Data integration of the global trade
data will give you a competitive edge with an array of insights into the top-traded
commodities and specific products. Analyze and interpret the metrics on the
basis of HS Code and come up with ideas to build your own new product.
● Level Up Workspace
By allowing you to transfer the
import-export trade data into your business’s applications and software such as
CRM, ERP, including other business systems; you can build a customized
workspace for your own and transform the way you work efficiently.
The multiple benefits that API brings to your
businesses exist in a wide range of dimensions as you allow it and analyze, and
finally how well you execute the strategical implementation. To better
understand how our API system work and bring maximum results to your business,
you can visit our website here and/or request a brief on
our API system to know more about our Trade Data API.
