What is EDI?
EDI is a simple abbreviation of the term ‘Electronic Data Interchange’ which in itself is a technology used for the automated exchange of business documents from one computer to another in a standard electronic format.
It enables businesses to exchange purchase orders, invoices, advance shipping notices, and other business documents directly from one business system to the other, without the need for any human intervention.
Advantages include an increase in processing speed, operational cost savings, error reduction and improved relationships with business partners. There are a number of global standards for electronic file transfer, examples include EDIFACT, TRADACOMS, UN/EDIFACT. Because the documents are processed by computers (as opposed to people), a standard format must be used so that the computing sytems of business partners can read and understand the documents.
- Is an abbreviation of Electronic Data Interchange
- Is an exchange of formatted electronic business documents between computer systems, essentially between business partners
- Has a number of global standards for electronically transferring business documents, examples of some of these standards include EDIFACT, TRADACOMS, UN/EDIFACT
- Incorporates multiple types of business documents including Purchase Orders, Invoices, Shipment Notification, etc.
- Eliminates post, fax and email. There is no paper work required.
- Fast and reliable message exchange
- Reduce manual intervention, paper and data errors
- Free up accounts and IT resources for value-added activities
- Better sales reporting, stock control and information sharing
- Faster order processing and faster payment of invoices
- Easier to grow EDI connections to enter new markets
- Respond promptly to key customer EDI and supply chain demands
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