Electronic Data Interchange (EDI) is the computer-to-computer exchange of business-related documents in a standard electronic format between business partners. By shifting from a paper-based exchange of business document to one that is electronic, businesses enjoy prime advantages like decreased cost, increased processing speed, decreased errors, and enhanced relationships with business partners.
EDI Services Transform Global Businesses
- EDI is one of the most common forms of structured exchange of documents between companies via electronic means. There are many different types of EDI and a variety of approaches to enabling EDI across a trading community.
- Whether viewing EDI for the first time or growing an existing EDI infrastructure to support different range of business partners around the world, there is a method of using EDI that will suit your business requirements, technical abilities and budget.
- Various big companies adopt hybrid EDI solutions to link with their business partners, dependent on size, significance and frequency of their transactions. Exchanging business documents electronically enhanced transaction speed and visibility while reducing the amount of money you spend on manual procedures. Cost savings is far from the only perk of utilizing EDI.
Benefits of EDI
From a financial view alone, there are various impressive benefits from implementing EDI integration. The prime benefits of EDI are often noticed as speed and accuracy:
- EDI can speed up any business cycle by 61% at least. Exchange transactions are done in minutes instead of the days or weeks of wait time from the postal service.
- Enhances data quality, delivering at least a 30-40% decrease in transactions with errors; eliminating errors from illegible handwriting, lost mail/faxes, keying and re-keying errors.
- Utilizing EDI can decrease the order-to-cash cycle time by more than 20% enhancing business partner connections and transactions.