Apigee Launches API Monetization Platform
Apigee announced Apigee Monetization Services, a new platform to help organizations monetize API environments.Apigee, which refers to itself as the API company, has launched a new platform to help enterprises monetize their APIs, the Apigee Enterprise - Monetization Services. Apigee officials said this new offering that makes it easy for customers to maximize the business value and foster rapid growth of their API-based digital initiatives. Apigee Monetization Services delivers enterprise-grade API monetization functionality to support a wide range of business models. This new capability is designed for digital initiatives built on apps, data and APIs. "The API and developer programs at the heart of mobile strategies are increasingly business critical and provide opportunities to create new revenue streams. Existing financial management solutions are simply not designed to take advantage of new transactional opportunities enabled by apps and APIs," said Chet Kapoor, Apigee CEO, in a statement. "Apigee Monetization Services is not just about pricing digital assets, but also understanding what to price, monitoring plan performance, and easily adapting to meet optimal monetization terms. It's the only fully integrated, end-to-end solution for managing the entire monetization process, from purchase to payment." Anita Paul, director of API products at Apigee, told eWEEK Apigee Monetization Services empowers non-technical business users to manage the end-to-end process of monetizing digital assets—including creating rate plans, managing limits and notifications, configuring reports and billing documents, and modifying the system to maximize API program value. It offers flexibility to create customized plans or use the "out-of-the-box" plans that cover all revenue models, including fixed and variable fees, revenue sharing and even "freemium" plans.
Paul, who used to work on the enterprise side, said in her former position she would have welcomed an API monetization solution. "One of the biggest problems I had was we had some very inflexible systems and we needed to set plans in all these different models," she said. "But we've automated the process to allow business users to set plans and manage payments."