CFM Review: The ABCs of APIs

Every Friday, we select a few articles from the week that we think are worth your time as a construction financial manager (CFM). We look for compelling articles not only about financial topics, but about business, technology, and life, that challenges you to think about your role as a CFM in different ways. We’d love to hear from you about how we’re doing, and to have you join our community by subscribing to receive this weekly post by email. Follow #CFMReview.

[hr]

The ABCs of APIs

API: Application Programming Interface.

APIs allow different computer systems to easily exchange information with one another.

There are over 12,000 APIs offered by firms worldwide.

Salesforce generates 50% of its revenue through APIs. eBay: 60%. Expedia: 90%.

From Bala Iyer and Mohan Subramaniam at HBR.org: “Just as the World Wide Web opened up the internet’s potential for use by billions, APIs — specifications or protocols for how to exchange information or request online services from an organization — are allowing companies to grow businesses at unprecedented rates by sharing services with external firms.”

Dive in: The Strategic Value of APIs

[hr]

Construction Technology Adoption: On the Up

One of our own, Martin Roth, Director of Sales at zlien, published an article in Construction Business Owner this week.

Martin cites an annual report from JBKnowledge and SmartBidNet, which demonstrates that more and more construction companies are switching to cloud-based and mobile technology.

It’s an optimistic trend, especially when contracted with a recent finding by ENR that the Construction Industry is last in IT-dollars spent as a percentage of revenue, weighing in at a measly 1.6%.

The good news: access to these technologies is easier and cheaper than ever before. Time to play catch-up.

Have a read: The Smart Technology Advantage

[hr]