All businesses require certain processing procedures be in place and functioning well for a business to succeed. So, how do you get your business to a position for it to become successful? Easy, find the part of your business that is costing you too much money, review the procedure, then find a way to change it.
Manual processes can dramatically impact a business in terms of productivity and the amount of time employees are consumed by completing such processes. The more time employees spend processing data, the more employers pay for a process to be completed.
By integrating EDI into your business, processing expenses are immediately reduced. Costs connected to paper, processing, printing, filing, postage, and more are virtually eliminated. In many cases, this reduction in business processing costs exceeds 35%, which is quite substantial. If that is not enough to grab your interest, consider the following benefits of adding EDI to your business:
- Cost: The typical cost of processing an order for a manufacturer of electronics is estimated to be $38 dollars. The typical cost of processing an order through an EDI system for the same electronics manufacturer is estimated at $1.35.
- Volume: Global EDI transactions are estimated at 20 billion annually.
- Savings: Based on early payment discounts, EDI can produce millions of dollars in savings for a business every year, in addition to the typical savings of implementing EDI into your business processing system, which is more than 35%.
- Increased Productivity: Using EDI can increase your business’s processing cycles by 61%. This would translate into a substantial cost-savings for any business.
- Improved Quality: Using EDI can drastically improve the quality of the business process by processing 30% to 40% less error transactions than employee processing. With this improvement comes less time your employees are consumed resolving customer disputes as well. This one is a two-fold bonus!
Facts are facts and the fact is that EDI offers impressive benefits related to streamlining your business processing system. In fact, choosing to partner with an expert EDI outsourcing partner has the potential to greatly increase employee productivity and produce an excellent cost-savings, across the board.
How Do I Choose the Right EDI Outsourcing Company for My Business?
Outsourcing EDI may add to cost-savings by streamlining the process even further, but with more than half of an organization’s revenue being processed through EDI operations, it makes processing EDI correctly vital to the success of a business. EDI processing for many businesses is quite intricate and requires advanced knowledge of EDI processing operations to be accomplished correctly. As a business owner, it is time to ask yourself if this is something you feel can be completed correctly in-house. Many business leaders would answer “no”.
By choosing the right EDI outsourcing company, you may be able to further increase cost-savings, productivity, and processing accuracy. So, how do you know who to trust? Be sure to consider the following when searching for the right EDI outsourcing company:
- Is the EDI provider experienced? How many EDI processing relationships does this business have? Can they offer you EDI processing references or customer testimonials?
- Is there EDI processing support available? What is the availability of that support?
- Does the EDI outsourcing company keep in contact with your trading partners to guarantee changes are processed correctly and without issue? Who works directly with the trading partners, you, or the vendor?
- How does the outsourcing company handle various EDI formats? What file formats do they accept? Do these requirements work for your business? Will you need to change the file type you currently use?
- Is the outsourcing company able to process and handle the mapping for all the formats and transaction types you need? Who completes any mapping updates to meet trading partner requirements? Who responds to incident reports?
- How long does it take to make changes to EDI maps?
- Is there any additional cost for any changes that occur?
By considering the previously mentioned questions, you should have the knowledge you need to make an informed decision for your company and its EDI processing needs.
Meet Integration, Inc.
As a primary BPA outsourcing provider, Integration, Inc.’s goal is to empower all its clients to focus on their core areas of expertise, while leaving the BPA to their team of experts. This is accomplished by supplying excellent BPA services that enhance your company’s ability to provide increased reliability and cost savings to your customers.
Integration, Inc. specializes in enabling your company’s success by providing complete IT outsourcing solutions for BPA customers like you. 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. Reach out to Integration, Inc. (860) 623-0004, today for more information about implementing BPA into your business for non-core processing tasks.