EDI (Electronic Data Interchange) refers to the electronic exchange of documents between business partners in a standard format, from one computer to another.
What is EDI?
Electronic Data Interchange replaces traditional methods of communication like faxes, mail, and post. EDI process through https://www.cin7.com/ultimate-guide-to-edi/ improves and optimizes the flow of information between companies in terms of quality, time, and cost.
It provides a comprehensive definition of the concept. "The electronic data exchange (EDI) replaces physical documents exchanges between companies (orders and invoices, delivery slips, etc.). With exchanges between computers connected via specialized connections or through (private) value-added networks (VAN), according to a standardized format.
All your business documents are available! You have many options to send your business documents to your partner
Three main benefits of EDI:
EDI allows you to digitally transform and optimize the exchange of business documents.
Lower costs
Automated exchanges have a significant impact on processing costs, especially labor costs. The average cost to manually process invoices is EUR26.70. This is a mere EUR26.70 per invoice.
Improve efficiency
Automation and digitalization of exchanges have significantly reduced human intervention. EDI allows for fewer errors, optimizes processing speed, and improves security and traceability.
Enhance business relationships
Releasing errors and delays, adopting a common language, quicker communication, and reducing costs are all factors that can help strengthen the relationships between business partners.