Electronic data interchange, or EDI, is a platform that allows companies to send information to other organizations digitally. In the past, these communications and processes would have been done on paper but, today, they can be more easily done using software applications.
What are the Benefits?
EDI software allows businesses to communicate essential information with one another digitally, saving time and money. Like most online platforms, EDI platforms also provide businesses with more peace of mind by ensuring that all data is secure and password protected. Since everything is monitored by the company, there’s a much lower risk of details falling into the wrong hands.
How EDI Platforms Improve Efficiency
When using an EDI platform, it will free up time for employees to spend more time on the tasks that really matter. Employees no longer have to prepare paper documents and ensure that they are sent to their respective recipients; a task that can be very time-consuming especially when there are several different organizations that your business is in communication with. This will allow your business to grow and develop at a faster rate and allow your company to take on more responsibilities without overstretching your team.
How EDI Platforms Reduce Errors
When communication between businesses is done manually, there is often a lot of room for human error, which can sometimes lead to serious problems. An EDI platform allows transactions to take place in a matter of minutes rather than days, which allows you to get paid faster and pass on information quickly. The use of an EDI can reduce errors by up to 40%, avoiding issues like lost faxes or mail and handwriting errors.
EDI Platforms Modernize Your Business
An EDI platform can help to bring your business into the modern era in several different ways. Transactions, statements, invoices and other communications were once all done on paper, but this is quickly becoming dated. Thanks to EDI platforms, all of this and more can be done digitally. In addition to modernizing your business, it also significantly reduces paper use and can help your company become more environmentally friendly.
Any business can benefit from an EDI platform for modernization, error reduction, efficiency, security and more.
