Businesses That Build Digital Capabilities Through a Combination of
Apps, APIs and Analytics Are Seeing Revenues Rise
LONDON, May 27, 2015 (GLOBE NEWSWIRE) -- More than
one in three UK companies surveyed say digital improvement is their
top priority; however, most are focusing on simply building mobile
apps and not incorporating the API and analytics programs necessary
for enabling digital business. This is according to a new study of
252 senior executives and IT decision makers across the UK in four
major industries by Apigee®
(Nasdaq:APIC).
The Apigee Institute's 2015 UK
Digital Business Survey Snapshot reveals that apps alone may
not be enough to harness the full potential of digital business;
effective digital transformation comes from implementing a powerful
combination of apps, APIs and analytics. The report finds that
companies that are investing in these core digital technologies are
eight times more likely to report increased revenue from digital
activities than those who delivered apps alone.
This advantage is not simply a matter of number of
companies with increased revenue from digital, but also a matter of
degree. The respondents who only delivered apps yet saw increased
revenue reported a median of about £266,000 in increased revenue.
In contrast, the respondents who invested in apps, APIs and
analytics saw median returns of over £9,000,000.
Ground continues to
shift
The Apigee Institute report reveals that 79 per
cent of UK businesses in the banking, travel and tourism,
telecommunications and retail industries are seeing a fundamental
shift in customer expectations due to digital growth. The same
proportion recognise that disruption from digital activities has
already occurred in their industry. Possibly as a result, more than
eight out of ten (86 per cent) respondents report an existing
company-wide digital transformation initiative. To deliver on this,
71 per cent of respondents report that their company deployed
mobile apps in the twelve months before the survey.
Bryan Kirschner, director of the Apigee Institute,
said: "In what's rapidly becoming a mobile-first business world,
all manner of industries are being 'shaken up' by digital
innovation. The growing sophistication of digital technology and
increasing customer expectations are creating new demands for
enterprises. Regardless of industry, every business needs to change
the way it interacts with customers and partners - using data and
digital technologies to create new digital experiences, new
efficiencies and to grow and expand faster in today's digital
world."
Putting customer experience
first
With the proliferation of mobile devices and apps,
many UK businesses are seeing opportunities to connect with
customers, wherever they are, through digital information and
services. According to the survey findings, the top drivers for
embarking on digital transformation initiatives among UK businesses
include providing best customer experience (37%), new services or
experiences for customers (37%), identifying new revenue streams
for the business (32%) and remaining competitive (29%). About a
quarter (24%) of respondents are also turning to digital activities
to help cut costs.
Digital business: more than
a mobile app
Seventy-one per cent of respondents deployed a
mobile app in the 12 months before the survey, and more than half
(55%) plan to offer more services via mobile devices in 2015. But
there is still significant work to be done. Significant majorities
of those surveyed consider developing APIs (75%) and the ability to
collect and analyse big data (77%) important priorities for 2015.
Yet, only 26 per cent of surveyed UK executives report plans to
deploy new APIs in 2015, and only 35 per cent plan to incorporate
big data analytics into their products, processes and services.
According to Kirschner, "We believe businesses
need to move beyond merely rolling out mobile apps and instead look
more holistically at how they can understand and add value to their
customers using data insights and analytics. Our research shows
that only 10 per cent of 'app-only' companies have seen an increase
in revenue from their digital efforts versus 81 per cent of those
who have incorporated data analytics and implemented APIs along
with their deployed apps."
Enterprises that have taken action in the past
year on three digital capabilities-apps, APIs and analytics-may
have won themselves an edge in the new digital economy. Compared to
those who only reported deploying a mobile app in 2014, respondents
who delivered this 'digital trifecta' are more than twice as likely
(41% to 15%) to have seen an increase in their ability to innovate.
And while they have an edge on cost savings to date-63 per cent
report savings versus 49 per cent of 'app only' companies-they
dominate on using digital to drive top-line growth in that they are
eight times more likely to report increased revenue from digital
activities than those who delivered apps alone.
UK business leaders in this survey report that
their top three barriers to digital transformation come in the form
of limited budgets (35%), poor IT infrastructure (29%) and
restricted executive support (25%).
"The research tells us that the majority of UK
businesses acknowledge that digital transformation is critical for
their business, and also recognise the importance of data analytics
and APIs as part of this journey," adds Kirschner. "Data is the fuel that enterprises use to engage
with, understand and bring value to their customers, market and
business. Data is delivered by APIs, and customers engage with data
through easy to use mobile apps. Together, data, APIs and apps are
the core constructs of digital business."
For more information on the research or to
download the full Apigee Institute UK Business Survey Snapshot,
please click here or go to
https://pages.apigee.com/2015-UK-digital-business-report.html.
Methodology and
Disclaimer
The survey was conducted from 5th March through
10th March, 2015. The research was conducted online with 252 UK IT
decision makers from four major industry sectors: travel and
tourism; banking and financial services; retail, and
telecommunications. Each industry is weighted to represent one
fourth of the survey.
Please note that the results reported in this
release are based on a limited data set. In addition, there may be
factors that are not reflected in the results reported in this
release. Actual results experienced by individual businesses may
vary from those reported in this release.
About Apigee
Apigee provides an intelligent API platform for
digital business. Many of the world's largest organizations select
Apigee to enable their digital business, including 20 of the
Fortune 100, five of the top 10 Global 2000 retail brands, and five
of the top 10 global telecommunications companies. Apigee customers
include global enterprises such as Marks & Spencer, Walgreens,
Burberry, Shell, Live Nation, and First Data. Apigee is
headquartered in San Jose, California and has over 400 employees
worldwide.
Connect with
Apigee
Apigee blog: https://blog.apigee.com/front
Apigee community:
https://community.apigee.com/
Twitter: https://twitter.com/Apigee
LinkedIn:
https://www.linkedin.com/company/apigee
Apigee is a registered trademark in the U.S. Other
product or company names mentioned may be trademarks or trade names
of their respective companies.
CONTACT: Media Contacts:
UK
Matthew Gurr
apigee@3-monkeys.co.uk
020 7009 3145
U.S./Global
Jim Dvorak
press@apigee.com
+1 319-929-0204
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Apigee via Globenewswire
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