Increasing EDI Performance for your Business:
In-house or Outsource EDI
Are you a business that still processes data manually? Think about it and look at the facts, which includes viewing your business from a financial perspective. If nothing else, you must admit there are impressive benefits related to implementing EDI into your business processing system.
For those a bit less familiar, EDI stands for Electronic Data Interchange. EDI is defined as “a method for exchanging business information using a standardized electronic format from one company to another.” Essentially, this replaces any paper processing of forms or documents, including invoices, receipts, delivery tickets, etc. Right away, this offers your company a substantial cost savings!
According to a recent study by Forrester, “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.” 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 needs.
Using EDI can result in millions of dollars of annual savings due to early payment discounts, especially for buyers that handle numerous transactions. From a financial perspective alone, there are many benefits related to implementing EDI, which 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, invoicing, etc…
- 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 relationships.
Choosing to outsource EDI is really a simple choice. Why?
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 processing technology, which can be a financial burden to smaller companies. By working with an EDI outsourcing company, that business invests in high quality processing capabilities that then apply to your business processing needs. By choosing to outsource with a US-based outsourcing provider, this also increases your ability to more accurately communicate with this provider at you convenience. As well as supporting the US economy.
The fact is, 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. Furthermore, the associated financial commitment and time spent recruiting qualified individuals for in-house processing can be very high and avoided altogether by outsourcing your EDI needs.
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/