As the future takes shape, companies are investing accordingly
Energy and utility firms face a diverse set of challenges as the world approaches the second quarter of a century.
On the environmental front, regulatory demands and stiffer penalties for non compliance take center stage. In terms of power generation, companies are up against limited natural resources, increased calls for renewable energy, and distributed energy resources. Meanwhile, meeting customer expectations — especially in digital experiences — remains a major point of product and service differentiation. As a result, investment outlays in digital transformation and customer experience are driving accelerated activities to meet tightening regulatory and market-imposed deadlines. Adoption of an API-first approach to integration is compulsory to success.
Investment in security is crucial to success
Managing the flow and demand for renewable and distributed energy resources is a complex undertaking that requires secure API connectivity among power networks, operators, and market platforms. Cyberattacks are a constant threat and need to be met head-on. Companies investing in mastering complexity and connecting securely can ensure the availability and reliability of their own networks and gain control over pricing as a market differentiator.
The way forward goes through API management
Making energy systems around the world more connected, intelligent, efficient, reliable and sustainable means digitalization. The Internet of Things (IoT), artificial intelligence (AI), big data and analytics (BDA), and edge computing are key enablers for operational excellence and new revenue streams. However, all these technologies require APIs for connectivity, data access, and management.
With an API-led approach to digitalization, energy and utility companies can launch and scale IT projects up to four times faster due to API reuse — deriving significant value. Some will lead. Some will fall behind.
API-first technology puts security first. Increased amounts and sources of open data escalate the importance of cybersecurity, API security, and data governance. Emerging technologies and data use mean comprehensive and secure API management systems are required, and utilities need to invest in securing their digital infrastructure.
APIs give customers greater control. Customers are demanding more control and transparency of their energy consumption and pricing, as well as accessible and flexible digital customer experiences. This presents opportunities for business growth since enterprises can use APIs to open data and new services to customers and partners.
Getting smart about climate change with APIs. Energy sector legislation and various data sharing frameworks are putting added pressure on companies to diversify energy sources, and track and demonstrate energy efficiency. A smart technical infrastructure and API implementation are key to implementing a decarbonized energy system that operates optimally.
Amplify Platform. Powering the API-first approach. Axway’s Amplify Platform is a universal API management platform that provides the protection, assurance, and proven path to fast-track your digital business initiatives. Energy systems around the world need to be more connected, intelligent, efficient, reliable, and sustainable. Amplify lets you:
- Secure and operationalize new and existing APIs by implementing a defense-in-depth strategy to safeguard all your APIs regardless of development or deployment
- Maintain a reliable and functioning energy grid to drive API usage and communicate with market platforms, power networks and operators
- Accelerate delivery of new services and reduce IT technology debt to reach parity with competitors
Amplify Platform enables you to master the complex API landscape and drive consumption of APIs among developers and partners. As the only truly universal platform Amplify lets you discover, use, and govern APIs across multiple gateways, vendors, and environments.
The platform’s breakthrough Amplify Enterprise Marketplace simplifies adoption and use of APIs for optimal business value, while enabling energy and utility companies to monetize their APIs for new revenue streams.
A valued partner in energy and utility digital transformation
Who is Axway? Axway is a pioneer in the world of data integration, enabling enterprises to securely Open Everything and move data across a complex world of new and old technologies. Our API management platform, Amplify Platform, serves as the cornerstone for API strategies and successes realized by top brands worldwide, and our managed file transfer and EDI/B2B integration solutions have been proven and trusted for over two decades.
What we do. We provide expertise and technology that has helped over 11,000 businesses in more than 100 countries unlock the full value of their enterprise data to create brilliant customer experiences, expand into new markets, and take advantage of emergent opportunities.
How we do it. Axway’s API-first approach supports secure on-premises, cloud-based, and hybrid digital ecosystems. With Axway Amplify Platform, businesses can:
- Secure and operationalize APIs
- Drive API discovery, use, and reuse
- Accelerate innovation
- Deliver omnichannel customer experiences
Learn more about accelerating digital transformation with an API-first strategy. Start here.