The return on investment (ROI) of an EDI (Electronic Data Interchange) solution can vary greatly depending on several factors, including the size of the business, the industry, and the specific EDI solution being used (web-based or fully integrated). However, the benefits of EDI integration are well-established, and many companies that implement EDI services report improved efficiency, reduced costs, and increased profitability.
ROI With Your EDI Solution?
The ROI measures a company’s profit from their EDI solution compared to the cost of setting it up. The ROI is calculated through numerous different cost-saving measures such as automation, reducing the likelihood of errors, faster processing times and a more efficient supply chain.
All of these measures applied can massively boost the ROI, with several factors affecting the return on investment for your EDI solution, including:
The industry
The retail and manufacturing industries see a significant ROI from their EDI solution because of the high volume of orders and more complex supply chains.
Size of the business
Larger businesses with large EDI networks will experience more return on investment from EDI implementation. While smaller businesses may not see the same return, EDI solutions can help them grow at a faster rate.
What are the Benefits of EDI Ordering?
EDI can help companies automate and streamline their supply chain processes, reducing manual data entry, errors, and time delays associated with manual data processing. This can improve accuracy and faster processing times, improve productivity, reduce operating costs, and create faster payment cycles. Additionally, the ability to track transactions in real time and exchange early warning signs with trading partners can help companies resolve issues faster and improve supply chain reliability.
What Are the Advantages of Internet-Based EDI Over Traditional EDI?
Internet-based EDI is being implemented by more and more industries worldwide, but why are businesses transitioning from traditional forms of EDI to internet-based EDI, and what are the advantages of internet-based EDI over traditional EDI?
Saving on expenses
With internet-based EDI solutions, businesses can communicate and send e-invoices to partners across the EDI network, replacing the need for the expensive solutions businesses needed to rely on, such as dedicated lease lines and value-added networks, not only making the process simpler but also lowering operational costs.
Potential for growth
Traditional methods of EDI had a limit to their potential for time and cost-saving solutions, but with internet-based EDI, the sky is the limit. Operating on the cloud allows businesses to scale their EDI needs alongside their growth. With AI becoming more prevalent in the EDI industry, sending e-invoices and holding communications is easier than ever.
Opportunities for integration
Adopting internet-based EDI integration allows businesses to connect with existing business systems that are using other EDIFACT-adjacent technologies such as XML or SOAP. The future of EDI is allowing more and more companies to integrate EDI and form working relationships with businesses using other EDI solutions.
Find Your EDI Solution at Celtrino
EDI is an investment that can deliver significant long-term benefits, including increased efficiency, reduced costs, improved accuracy, and increased profitability. To learn more about how we can bolster your cash flow and ensure ROI with an EDI integration that can help your organisation, contact us at Celtrino today or check out our case studies for all you need to know about EDI.
In general, EDI is an investment that can deliver significant long-term benefits, including increased efficiency, reduced costs, improved accuracy, and increased profitability. To find out how EDI can help your organsiation, contact Celtrino today.
