SIC (Standard Industrial Classification) codes are a system to categorize businesses in all fields. The SIC code is the ID of every company, which was devised by the USA in the 1960s, and then updated and expanded to other countries. Today all systems are integrated and users can find their own firm and all firms in the world by just typing the company`s name or URL. It consists of a combination of letter and numbers that stand for primary activity, industrial division, sector, group and class. The SIC code allows investors to compare different companies in the same sector and determine which one is more profitable, to categorize their financial information and also to understand the latest market trends, or to get certainty of vendors, suppliers, competitors and even potential partners.
The first three digits of the SIC code indicate the industry sector. The next two digits indicate the subsector, while the last digit indicates the company’s type or function. For instance, if a company’s SIC code is “5231,” it means that it belongs to the “Food and Beverage Manufacturing” sector, which is part of the “Manufacturing” subsector.
The SIC codes are issued by the United States Bureau of Economic Analysis (BEA) and are used by companies to classify their data. They are also used by investors and analysts to analyze a company’s financial performance and compare it with other companies in the same sector. SIC codes are also used by businesses to track their financial performance over time. By comparing their SIC codes over time, businesses can see how well they are doing in different sectors and subsectors.
APIs are interfaces that connect different software programs and allow them to communicate with each other to exchange information and issue a more accurate output. They can be used to automate tasks and make life easier for both businesses and consumers. In this case, a SIC codes lookup API can be used to automate the process of checking authenticity and gathering information about companies. In addition, an API can be used to automatically generate reports based on this data. This can save time and money for both businesses and investors, and boost commercial interaction to benefit the market.
If you want to find out more about these kinds of APIs we recommend you to try SIC Codes API by ZylaLabs. With this API you can get all sort of information about companies in seconds. Just with the name of the company you will get all its details including address, phone number, revenue, background and even financial performance. All the information will be presented to you in an easy-to-understand format, so there will be no need for you to dig through complicated documents. This is an easy-to-use API, powered with Artificial Intelligence and integrated with other APIs of the suite: Company Data Slug API, Company`s Line Of Business API, Retrieve Company Information API, and others.
This API is ideal for those businesses that need to get information from companies before they make any deals with them. With this information at your disposal, you will be able to make better decisions before signing any contracts.
To make use of it, you must first go to SIC Codes LookUp API and simply click on the button “Subscribe” to start using the API. After signing up in Zyla API Hub, you will be given your personal API key. Using this one-of-a-kind combination of numbers and letters, you will be able to use, connect, and manage APIs. Use the different API endpoints depending on your needs. Once you find it, make the API call by pressing the button “run” and see the results on your screen.
