Value Creation in your Business through Digitization — Part 1

By Karthik TS, Head of the Centre of Excellence at Torry Harris Business Solutions

Digitization or digital transformation is the most important element of any business evolution. When we use the term “digital” we refer to the term Digital Economy using APIs as a means. People often ask the question, “What is the revenue potential of APIs?” If we look at the numbers below, we will have a clear idea of the major role that APIs play in revenue generation:

Source: Harvard Business Review, Jan 2015

So, what will Digitization do for your business?

  • Digitization will help you change the arena of competition
  • Digitization will help you offer a bigger umbrella of services and products woven together by APIs
  • Digitization will help you be seen as a platform on which third-party businesses can add their products, services and customers

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