EDI – electronic data interchange – means that data is transmitted in a planned and control manner between organizations, using electronic methods. This includes data transfer between different computers without the need of human interaction. It is not, however, the same as sending and receiving emails. It goes well beyond that. For instance, it includes such things as checks and bills being transmitted, with the right messages. Considering the fact that everything is done through computers nowadays, it quickly becomes clear why there is now such a need for EDI software providers. It is by far the safest method of transferring financial data.
An Increasing Need for EDI Software Providers
Over the past several decades, EDI services have been employed quite widely. It has enabled business to go paperless, reducing the cost associated with transferring paper checks and bills. Furthermore, it ensures that the financial instrument is completely safe. All you have to do to take advantage of all of these benefits is find a service provider.
Today, there are lots of cloud-based EDI applications that you can choose from. These programs also integrate with the majority of commonly used office programs, including Microsoft Dynamics, SAP, Epicor, Oracle, Sage, and QuickBooks. Before you sign up to an EDI program, however, you need to make sure that you know what your particular requirements are, which is what will show you which software you actually need.
There are lots of benefits to be enjoyed by signing up to an EDI program. This includes:
- The fact that you will save a lot of money because you no longer need the manpower to complete certain tasks.
- The fact that all information is transmitted and processed quickly and electronically.
- The fact that it significantly reduces the chance of human error.
- The fact that large numbers of receipts and invoices can be processed daily.
Besides this, you could also choose to outsource your EDI. This also provides you with a number of benefits, including the fact that you can save human effort, time, and therefore money. There are lots of highly trained professionals around who can handle a workload without every compromising on the confidentiality of your data, offering high quality services. They are reliable, so long as they have a good reputation as well, which is what you need to investigate. They offer competitive prices, including troubleshooting services, and they monitor your accounts around the clock.
As you can see, there are lots of options out there if you feel the time is right to switch over to EDI. If, for whatever reason, you don’t think the time is right yet, you need to question why. After all, around 90% of the world’s biggest businesses used EDI and it offers nothing but benefits. The only drawback is that it costs money, but the benefits, which include a reduction of operational cost and the opportunity to increase productivity and therefore profits, ensure that you should notice a very quick return on your investment.