Electronic Data Interchange or EDI: Increase Business Revenue
Jul 13, 2018
The term Electronic Data Interchange or EDI can seem intimidating to a business that does not use it. Don’t be fooled. Electronic Data Interchange or EDI is used in a variety of industries, from retail and wholesale, to energy, healthcare, pharmaceutical, manufacturing, logistics, government, technology, financial services, and the list goes on.
So what is Electronic Data Interchange or EDI?
Explained simply, Electronic Data Interchange or EDI is the exchange of business documents from computer to computer in a standard electronic format. The most obvious benefit to your business right off the bat, as a result of implementing EDI, is cost savings. By simply moving from paper to electronic data transfer, you immediately eliminate the need for paper, mailing supplies, manual processing costs and supply storage costs. It really is that simple.
Electronic Data Interchange or EDI immediately takes away your need for postal mail, fax and email as well. Yes, email is a current and also useful electronic approach, however, business data exchanged via email must still be processed by people. This leaves room for slow processing and higher error rates, as well as increased cost for manual labor. Alternatively, Electronic Data Interchange or EDI documents are sent directly to the appropriate application on the receiver’s computer where processing can begin immediately.
EDI Standard Format
Consistency is key. We’ve all heard that before. Here, it’s certainly the case. Electronic Data Interchange or EDI documents require standard formats allowing all data exchanged to be received and sent without issue. A standard format describes what each piece of information is. Without a standard format, receiver’s computer system would not know how to interpret your organization’s specific data formats and information. The most used EDI standards today, include: ANSI, EDIFACT, TRADACOMS and ebXML. Each standard also offers versions, such as ANSI 5010 or EDIFACT version D12, Release A. Once your business has implemented EDI, the business you are exchanging documents with must agree with you on a specific EDI standard.
Partnering With an EDI Expert
Many businesses choose to partner with an Electronic Data Interchange or EDI expert who is experienced in implementing EDI and managing the EDI process on behalf of a business. Thousands of companies use EDI to improve their processing efficiency with their supply chain partners. Many companies require their business partners to have Electronic Data Interchange or EDI capability and to be compliant with their specific EDI standards.
Integration, Inc. is a technology company that is dedicated to increasing EDI efficiency and reducing the cost of doing business electronically. Integration, Inc. has created seamless connections between trading partners (customers and suppliers), which allows them to share shipping, receiving, and billing information in a secure, effective and cost efficient manner for every individual EDI account. As an industry-leading business process outsourcing provider located in Connecticut, Integration, Inc. specializes in business process automation services such as, Electronic Data Interchange (EDI), check writing, check printing, check processing, rebate processing, barcode labels and third party billing to thousands of companies across the globe. As an EDI third party provider, Integration, Inc. supports all of your EDI requirements with accuracy and efficiency. This means your company will not need to make a capital investment in hardware, software or Value Added Network (VAN) services. As a result, your business will receive an excellent cost-savings opportunity. Integration, Inc. makes complying with EDI requirements more streamlined and easy to understand. Integration, Inc. handles everything.
Are you ready to take your business to the next level? Reach out to Integration, Inc. today.