I’ve seen the OKR around APi sales. Who is even building APIs? What is the purpose of having this?
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API Access is the way. Get rid of rogue and first league third party SIs building expensive one-off integrations and charge for the flow of API access. Better customer and user metrics if we lean into what our customers and partners are doing in the software as we’d have 360 visibility. Better way to control, manage, innovate, and be a true software partner for our customers.
@2yxq+1m8WbCj6 Actually there are already many customers who pay a lot of money for this kind of access. They are usually TR’s largest customers. And they want more.
Depending on where in the org you sit you might not have visibility of this - and it’s also true that most of TR’s customers (who are small) don’t have a need for this, so it probably feels like a distraction to 80% of TR employees.
But the $$ add up.
This actually seems to make a lot of sense. I'm surprised, especially after what I've witnessed of the Thomson Reuters and Refinitiv management gong show.
Be warned however that doing this well is really, really hard even for a business with competent leaders, and I fully expect TR's effort to suck unless a miracle happens.
@ysi+1m8WbCj6 - "The API objectives came out of the understanding that a) a lot of large customers do want to plug directly into our systems directly to power their own in-house stuff". Says no customer.
Going the API route allows TR apps and data to interface with whatever homegrown or
off-the-shelf systems a customer has. It reduces the substantial burden of directly integrating, and staying up to date, with the target systems. It also puts the task of development on the customer. This is a huge potential market and a good move.
The API objectives came out of the understanding that a) a lot of large customers do want to plug directly into our systems directly to power their own in-house stuff, and b) APIs tend to underpin various flavors of partnerships. For both cases there are potentially substantial incremental revenue streams attached - so that’s why.
Amazonification. Everything is apis. Because legal content is the same as whatever Amazon sells. Adios West search and hello garbage search.