What is EDI? EDI is the abbreviation for Electronic Data Interchange that facilitates the computer to computer communication with trade partners in standardized data formats. Businesses usually create and exchange a staggering amount of data. Needless to say it takes enormous time and effort to interface this information with other businesses and systems so as to keep going smoothly.
Electronic Data Interchange solutions are intended to assist you in managing the task of exchanging data securely and accurately. Since digital is the new norm, EDI facilitates the creation, storage as well as communication of data in electronic form. You have to take into consideration the increased time limits, possible errors from mistyping and how wrongly logged information can affect an organization’s profits, to wholly understand what is EDI. EDI also helps create a positive effect on the environment as what is EDI doing now at an instant was once done manually or by systems without standards.
If your business still relies heavily on manual labor to copy data from one system into another, you may see a lot of “wasted time” to do so, associated errors, which may result in more errors and wasted time.
Why not automate your data exchange with EDI?
EDI can help you streamline your operations and minimize overhead.
What is EDI is best explained by the fact that it acts as automation tool for all the document management processes that was used earlier by a human. EDI is also more effective in detecting errors in documents. Errors in business documents can seriously hamper your business and a limit on the overall efficiency. EDI can help with this.
EDI can process hundreds of documents at one tenth the time of what would have been taken by a manual agent. As time translates into money in the corporate world, EDI ultimately enables your business to run on its own, and you can spend your staff’s time on more valuable tasks.
EDI is extremely user-friendly and enables users achieve EDI integration at different levels, the EDI can be customized to best suit the company’s operational requirements. Enterprises can enable an EDI device to be very complex or as simple in accordance with their task demands. You can setup additional reports and error tracking on your basic EDI. Speak to our experts at Hara Partners to learn more about add-on services.
It’s not a surprise that EDI can be found in all kinds of industries ranging from Banking, Finance and Insurance Sectors, governmental organizations, IT and Telecom companies, utilities, consumer goods and retail and a host of other industrial verticals.
To justify the need of EDI for your businesses, you should first calculate the total time and money spend in doing the current manual processes and the gains you could have by implementing an EDI system. In today’s world of cut throat competition, if organizations are looking at ways to be more competent and gain viable advantage, then the speculation of migrating to an EDI solution is something that businesses should strongly consider.