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EDI stands for “electronic data interchange,” but EDI software offers your business so much more than its dry-sounding name lets on. Read here to find out what we mean.
Today’s EDI systems can process enormous amounts of structurally complex data with minimal effort. This is but one of the reasons why so many companies have become so dependent on their EDI systems.
Other reasons include improved business efficiency, enhanced data security, and reduced costs. This makes it even more surprising that some companies still use so much paper when running their operations.
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What EDI Systems Do
EDI systems can bring buyers, suppliers, manufacturers, and logistics partners together. They do this by creating a single virtual environment. Here, any party involved can gain instant access to pertinent information.
This is why these systems are crucial, especially for enterprises that intend to do business at the international level. An EDI system can make sending orders, invoices, or other commercial and financial documents feel like a walk in the park.
Additionally, they support almost any file format, whether the file is in UN/EDIFACT, XML, VDA, ANSI, ASC X12, or GS1 EDI format. No paper is ever needed.
The same goes for file conversions. You can always send your partner documents in the correct format. Then, you can both finally stop playing the choose-the-right-file game.
Yet, as beneficial as these systems are, there are still some companies that are reluctant to incorporate EDI software into their IT infrastructure. They fear that the system will be too complicated and cost-intensive to deploy.
In reality, however, a company can implement EDI solutions almost immediately, depending on the level of customization the business requires. Generally, you can choose either web-based portals that require users to log in and more advanced software that becomes part of your company’s IT environment.
So the question is, how do you know which type of EDI solution is better for your company?
Entering the Virtual Land of Opportunities
If you decide to use an EDI solution, you can, theoretically, develop it in-house. However, this will be an expensive and highly time-consuming process. Even if your IT specialists are capable of creating an appropriate system from scratch, the budget necessary for developing such a solution can easily exceed your company’s financial capabilities.
Plus, there are always some additional costs to consider. For example, debugging can be an issue. Also, it can take some time to create a stable virtual environment. As you might imagine, such an endeavor is too much to bear for small and mid-size companies.
You have a business to run, so leave the EDI design and implementation to professionals who have installed EDI in multiple companies like yours. Besides, there are plenty of EDI technology providers.
For example, Comarch will develop an elegant system for you that meets your needs precisely. Their services will reduce your investment costs as well as guarantee that your new EDI software will work flawlessly.
You’ll have little to no down time, even during the implementation stage. Additionally, your system will be designed in such a way as to welcome continual improvements as your company grows and changes.
Comarch technology providers are continually improving their proprietary solutions by introducing new, ground-breaking features. What’s more, they will create an EDI system that fits your company like a glove, while training your IT staff to use it at the same time.
To learn more, visit https://www.comarch.com/trade-and-services/data-management/edi/.
Enhanced Day-to-Day Interactions
When Forrester, a prominent research organization, looked into EDI, they found that 82% of respondents said they were interested in implementing a new data exchange system. They believed it would allow them to reduce operational costs.
Similar studies show that “improved business relations” usually fall somewhere toward the midpoint of what respondents expect and want. As it turns out, however, the quality of one’s business relationships also improves when all parties have instant access to valid information.
Other benefits are important, too. For example, companies can be more ecologically friendly when they have a reliable EDI platform in place. Additionally, such a system makes it easier for employees to plan their workday.
EDI: An Essential Component in Today’s Businesses
The digital revolution is upon us. It is no wonder that EDI technology has become such an essential tool in everyone’s business toolbox. Those who are yet to use it will be pleasantly surprised when they finally decide to jump on board.
But if this applies to you, you need to hurry. The sooner you put an EDI platform into practice, the greater competitive advantage you will gain. What’s more, the quality of your business relationships depends on it.