Many of you, well, maybe not you for sure but your administrators, have asked us to build a feature that would let your company systems interact with Fairways Guarantees. This feature is what we call API (Application Programming Interface).
You can see APIs as online services that, when connected with the correct parameter(s), let you interact with them (to get data, to update data, etc.). Of course, API calls, like any use of Fairways Guarantees, are secured and require authenticated callers. The whole idea behind APIs is to allow different systems to interact with each other so that it is possible to automate tasks, thus preventing the need for tedious manipulations, saving time for users and, last but not least, increase both speed and reliability of automatized tasks.
For example, we could imagine API that would let a system:
- Retrieve the group rates for your account
- Update the group rates for your account
- Retrieve the past (and/or upcoming) payments
- Change the status of some payments to PAID (or another status)
- Retrieve the guarantees issued to a given third party
- Update the third party / guarantor referential data
- And many more…
Using our first released API, the group rate management API, it is now possible to schedule an automatic update of your group rates. Your group rates would be retrieved from your information system (SI), formatted so that Fairways Guarantees can understand the new values and finally passed to Fairways Guarantees for them to be available upon your next closing. Of course, since it is a machine-to-machine process, it can be called as often as needed (once a month, once a week, every day, etc.), with no further work and cost.
The really nice thing with API is that we deliver a feature with specific use cases but you (well your IS teams) will be the one to decide what to do with it and, from experience, creativity can go wild and generate amazing integrations between various systems! We are eager to see what you’ll come with! For example some of you already told us that they would like to have, when they open the details of one of their third party in their SAP, the current guaranteed amount benefiting this party. Using our upcoming Guarantees API this will be possible. That and many more things that will help you solve your business needs even better.
Ok, so we have released the Group Rate Management API but what’s next? Well, next is e-cautions integrations in case your wonder… No more manual extraction and integration of e-cautions files (but for managing errors of course), then the payments managing API, then…
Should you want to know more on API and how it could be of use in your organization, drop an email to your sale or your consultant and they will be glad to discuss the subject with you and find if it can be a good idea for you to use them.