Electronic Data Interchange (EDI) has become a
fundamental part of doing business. EDI provides businesses with quick, secure
and accurate solutions for document transfers. Today, over 20 billion EDI
process transactions occur annually. That’s over 60 percent of businesses
across the United States alone who are utilizing EDI in their daily operations.
If you’re not a business currently using EDI and all the benefits it offers,
it’s time to ask yourself why.
Businesses using EDI today have the benefits of more
secure exchange of information, cost savings, speed of information exchange and
accuracy. But what exactly is EDI, and what are the advantages of EDI that make
it so successful and attractive to businesses?
What is Electronic Data Interchange (EDI)?
Electronic Data Interchange, or EDI is defined as “a
method for exchanging business information using a standardized electronic
format from one company to another.”
EDI replaces any paper
processing of forms or documents, including invoices, receipts, delivery
tickets, etc. As a result, there is an immediate cost savings to businesses by
eliminating the need for paper supplies, extended processing time and human
error. “EDI continues to prove its worth as an electronic message data
format…the annual volume of global EDI transactions exceeds 20 billion per year
and is still growing,” according to a recent study by Forrester.
As businesses like yours
begin to understand the capabilities and benefits of choosing EDI for their
business, they are also learning of the major cost-savings associated with
outsourcing their EDI and other non-core internal processing tasks. From Electronic Data
Interchange (EDI) to check writing, check printing, rebate processing, barcode labels , third party
billing and more, outsourcing non-core business processing will
streamline your business and allow you to focus more time and energy on
cultivating your core business objectives.
Benefits of Choosing EDI
Choosing to integrate EDI
into your business system can result in millions of dollars of annual savings
due to early payment discounts, especially for buyers that handle numerous
transactions annually. The benefits related to implementing EDI include;
- Utilizing EDI improves
transaction speed and visibility, while decreasing the amount of money you
spend on manual processes, especially in areas of order processing, delivery
processing, receipt processing, and invoicing.
- Using EDI will
streamline and improve the speed and accuracy of processing your non-core
business data. EDI can increase business processing up to 61%, resulting in
enormous savings and processing organization for your business.
- EDI transactions will
quickly improve your overall data quality and can produce between 30% to 40%
reduction of errors overall. This in turn produces excellent cost-savings, as
well as more streamlined processing results. Saving processing time can
potentially reduce overall processing costs up to 20% and increase business
efficiency, assisting in improving partner processing and customer
The fact is that the
typical total amount spent by a company for one year of EDI outsourcing is less
than the annual salaries and benefits paid to the personnel in that company’s
EDI department. EDI is more secure, provides an array of cost-savings and
decreases human error rates substantially. The financial commitment and time
spent recruiting qualified individuals for in-house processing can be very high
and avoided altogether by outsourcing your EDI needs.
In choosing to work with
an EDI outsourcing business your business no
longer takes on the accountability or responsibility of processing non-core
business data accurately or being required to stay up-to-date with the latest standard
processing technology, which can be a financial burden to smaller companies. By
working with an EDI outsourcing company, that partner invests in high quality
processing capabilities that then apply to your business processing needs, without
your business providing a substantial up-front investment.
Meet Integration, Inc.,
Your Answer to Implementing EDI into your Business
Integration, Inc. is an
industry-leading business process automation provider specializing 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 a primary business
process automation outsourcing provider, Integration’s goal is to empower all
its client’s to focus on their core areas of expertise, while leaving the
business process automation services to our team of experts. This
is accomplished by supplying excellent business process automation services
that enhance your company’s ability to provide increased reliability and cost
savings to your customers.
Integration enables your
company’s success by providing a complete IT outsourcing solutions for business
process automation. As a result, this allows your organization to
respond rapidly to changing business environments, while meeting your
customer’s needs consistently and in a more cost effective manner. https://www.integrationinc.com/